CPE SESSION 6: SUNDAY, AUGUST 8, 8:00 AM – 4:00 PM
Accounting for Derivatives in Financial Reports
Description/Objectives:
This course is designed to enable workshop participants with minimal knowledge of derivatives and related instruments to gain a comprehensive understanding of the fundamentals of how they impact a company’s financial reports. In previous years, this workshop was offered as a half-day session. However, the complexity and volume of the material covered did not allow participants sufficient time to process the information to obtain a working knowledge that enabled them to easily transfer it to the classroom. The objective of this full-day workshop is to provide workshop participants with the time to obtain this knowledge and to supply a sample set of curricular materials that can be used to teach the accounting for derivatives over a two-to-three-week period.
Where possible, this course uses illustrative cases to understand:
- How derivatives can be used to both manage and take on market risk (i.e., the risk of loss due to changes in interest rates, foreign currency exchange rates, commodity prices, and/or equity prices);
- Financial reporting rules defining how the effects of market risk are portrayed in financial statements, footnotes, and supplemental 10-K disclosures (including guidance provided in FAS Nos. 133, 138, and 149 and FRR No. 48).
Format/Structure:
The workshop will be conducted as an interactive seminar.
Intended Audience:
Individuals who have teaching and research interests in financial accounting and reporting.
Presenter:
Thomas Linsmeier, Michigan State University
Sponsor:
Financial Accounting and Reporting Section
* Denotes special requirements or prerequisite
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