2008 Accounting for
Derivatives Conference
Current Industry Trends &
Strategies on FAS 133 et al.
Deluxe Continental Breakfast & Registration
7:45 – 8:30 AM
Welcome & Opening Remarks
8:30 – 8:45 AM
FAS 161 Disclosure Requirements
8:45 – 9:45 AM
- Amendment of FAS 133 disclosure requirements
- Focus on measuring and disclosing ineffectiveness
- Disclosing balance sheet and income statement geography of derivatives
Embedded Derivatives & Convertible Debt
9:45 – 10:45 AM
- Convertible debt/preferred stock instruments
- EITF 00-19, EITF 07-05 and other applicable accounting guidance
- Steps in accounting analysis
- Recent developments
Break
10:45 – 11:00 AM
FAS 159 vs. FAS 133
11:00 AM - 12:00 PM
- Distinction between fair value accounting under FAS 159 and fair value hedge accounting under FAS 133
- Fundamental principles
- Implementation issues
Networking Luncheon
Learning Track: Valuation of Fundamental & Hypothetical Derivatives
1:00 – 3:00 PM
These sessions will provide a review of instruments and detail how to fair value a swap, option and futures contract. You will also discuss the measurement of ineffective relationships. (Choose One of Three)
1. Commodity/Energy
2. Financial Institutions
3. Corporate FX-Interest Rate
Break
3:00 – 3:15 PM
SOX Controls in a Derivatives Environment
3:15 – 4:00 PM
- Application of the latest SOX 404 guidance from the SEC/PCAOB
- Key controls vs. too many controls
- Controls for a one derivative shop
Appropriate Tax Selection in FAS 133 Hedging
4:00 – 5:00 PM
- Documentation requirements
- Issues in derivatives and taxation
IFRS vs. US GAAP (IAS 39 vs. FAS 133)
5:00 – 5:45 PM
- How IASB's proposed amendment to IAS 39 tracks against the FASB's proposed
amendment to FAS 133
- Key differences: embedded derivatives, transfers of financial assets, components of
hedge accounting
Cocktail Reception
5:45 – 7:00 PM
Deluxe Continental Breakfast
8:00 – 8:30 AM
Credit Adjusting the Value of Derivatives
8:30 – 9:30 AM
- How to use credit default swaps to credit adjust the value of the derivative assets
- How to deal with the liabilities side when there isn't public data available
FASB and SEC Update for FAS 133
9:30 – 10:45 AM
This session will cover projects related to derivatives that are either newly issued or currently on the FASB's agenda, as well as issues that the SEC is identifying related to 133.
Break
10:45 – 11:00 AM
FAS 133 Implementation Issues
11:00 AM – 12:15 PM
This session takes the previous session a step further. In a give-and-take discussion by speakers from the Big 4 (and industry), you'll take away the practical implications of the guidance. You'll gain an understanding of what it means for your 133 program and know what you have to do to meet the latest requirements.
- Statement 133 hedging: fair value hedging approaches in the context of foreign currency hedges
- De-designation for cash flow and fair value hedges
- Statement 133 implementation issues: clarification of the application of the short-cut method
Networking Luncheon
12:15 - 1:15 PM
Learning Track: Cash Flow Hedging, Fair Value Hedging & Effectiveness Testing
1:15 - 4:00 PM
These sessions will cover hot topics for cash flow and fair value hedging , as well as effectiveness testing and measurement. (Choose One of Three)
[Break-2:30-2:45 PM]
[Break-2:30-2:45 PM]
1. Commodity/Energy
2. Financial Institutions
3. Corporate FX-Interest Rate
Documentation Approaches
4:00 – 5:00 PM
- Meeting the unwritten requirements
- Specific identification
- Referencing strategy documents
- Timing requirements
Conference Conclusion
5:00 PM
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