Derivative Accounting and Reporting
Printer-friendly versionWhat 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 class 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, auditors, investment specialist, financial managers and others working with or needing a better understanding of Statutory, GAAP and/or IFRS accounting and financial reporting for derivatives utilized by 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. No advance preparation is required for this seminar.
Class Times:
Class begins at 8:30 a.m. and ends at 5:00 p.m. on the first day and at 12:15 p.m. on the second day.
Estimated CPE Credit: 12.0 hours
Tuition: $1395
Upcoming seminar dates and locations:
There are no upcoming dates for this seminar.
Look for our 2012 schedule in February/March.
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