Recent pronouncements define fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Seems simple enough, but certain people are blaming fair value accounting, otherwise known at “mark-to-market” accounting, for exacerbating the recent credit crisis. This course reviews the theory and practice of fair value accounting, as well as the recent developments, pronouncements and hot topics relating to fair value coming out of the credit crisis and resulting global economic downturn. Depending on the topics selected, this course can range anywhere from 2 hours to a full day.

Financial institutions have unique and sometimes complex transactions that follow special accounting rules. This course, which can be structured as either a two-day or three-day course, is intended for participants interested in attaining a fundamental understanding of the transactions and related accounting and reporting requirements for financial institutions under IFRS and/or U.S. GAAP. Although both IFRS and U.S. GAAP have moved more in-line in recent years, significant differences still remain.

This one-day or two-day course is intended for participants with a well-founded understanding of the accounting and reporting requirements for these entities under IFRS and/or U.S. GAAP. This course addresses recent changes to the accounting and reporting requirements for financial institutions and also digs into some of the more complicated transactions, emphasizing current practice issues as noted by the regulators, standard setters, and industry leaders.  In all areas covered, comparisons between IFRS and U.S. GAAP can be discussed, if desired.

This course examines the unique accounting and reporting issues for insurance and reinsurance companies. It may be run as a U.S. GAAP-only, IFRS-only, or comparative GAAP course. In addition to our typical example and discussion driven approach, we utilize “real-life” financial statements to illustrate the financial reporting requirements for these types of companies.

This course is geared toward those who have already attended the “Accounting and Reporting for Insurance and Reinsurance Companies” course or those with a fundamental understanding of the accounting and reporting issues in this industry. This one-day course focuses on recent changes in U.S. GAAP and/or IFRS during the past year that most impact these types of entities. In addition to recent changes, additional time is allotted to “hot topics”, i.e. areas in which regulators, standard setters, and industry leaders have focused their attention.

Investment companies, such as funds and private equity companies, must follow industry-specific guidance to ensure compliance with U.S. GAAP. With relatively little industry-specific guidance for these companies under IFRS there is often substantial judgment in its application which could lead to significant GAAP differences. This two-day course covers the unique accounting and reporting issues surrounding this industry.

This one-day course is geared towards those who have already attended the “Accounting and Reporting for Investment Companies” course or those with a fundamental understanding of the accounting and reporting issues in this industry. This course focuses on recent changes in U.S. GAAP and/or IFRS during the past year that most impact these types of entities. In addition to recent changes, additional time is allotted to “hot topics”, i.e. areas in which regulators, standard setters, and industry leaders have focused their attention.

Convergence and simplification, that is the goal. And over the past several years, the IASB and FASB have been working feverishly to revamp the accounting and reporting for financial instruments. Their hard work is nearing completion and there is still concern over whether either convergence or simplification will be achieved! This course delves deep into the current proposals of various financial instruments-related standards, highlighting the key changes being proposed and covering the differences between IFRS and U.S. GAAP that could potentially remain.

Using case studies and numerous class examples, this one-day course will provide an in-depth look at the new, radically different proposed accounting requirements related to the accounting for insurance and reinsurance companies under both IFRS and U.S. GAAP. In addition to covering the current exposure documents, participants will be updated on the latest developments and decisions made by both Boards during the redeliberation process.