Derivative Accounting and Reporting

Printer-friendly version

What you will learn:

Derivatives are complex financial instruments used by many insurance companies to reduce their exposure to various types of risks. As a participant in this seminar you will learn how derivatives work and how they are commonly used in insurance companies. We will explore, through class examples, the nuances that arise from variations in statutory and GAAP accounting treatment. Additionally, participants will obtain an understanding of the documentation, hedge classification, reporting and disclosure issues surrounding this specialized aspect of insurance accounting.

Seminar content:

• Definitions of derivatives
• Common uses of derivatives
  • Swaps, options, forwards, futures, floors, caps and collars
  • Hedging transactions
  • Replication transactions
• GAAP accounting
• Statutory accounting
• Documentation requirements - including Schedule DB
• Embedded derivatives
• Disclosures required by statutory and GAAP

Who Should Attend:

Accountants, investment specialists, financial managers, auditors and others working with or needing a better understanding of statutory and/or GAAP accounting and financial reporting for derivatives in an insurance company.

Prerequisites:

No experience with derivatives is necessary as we will build from a definitional introduction through to ultimate reporting. Familiarity with the operations of the insurance industry will help a participant’s understanding of the risks these instruments are often used to manage. We recommend that those who wish to become familiar with accounting and reporting for the full range of investments held by insurance companies consider combining this seminar with the Investment Accounting and Reporting seminar. No advance preparation is required for this intermediate level seminar.

Class Times:

Class begins at 8:30 a.m. and ends at 5:00 p.m.

Estimated CPE Credit: 8.0 hours

Tuition: $1195

Note(s):

The combined tuition if both the Derivative Accounting and Reporting and Investment Accounting and Reporting seminars are taken together is $2,190, a $500 savings.

Upcoming seminar dates and locations:

To register and pay by credit card, use the Register Now button(s) below.

To register by mail and pay by check, click here.