Overview
Navigating the complexities of ASC 815 (FAS 133) and hedge accounting is challenging even in the best of times. But with the tidal wave of new FASB and SEC rules, it is now trickier than ever before.
Attend this conference webcast to learn the best ways to stay compliant with new FASB and SEC rules from the Big 4 and industry experts.
This two-day webcast is comprised of two 8-hour sessions. Take both days for just $899!
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DAY ONE AGENDA HIGHLIGHTS • ASC 815 (FAS 133): what’s on the horizon • IFRS vs. US GAAP on derivatives: • Disclosures • Dodd-Frank update: where we go from here • Embedded derivatives |
DAY TWO AGENDA HIGHLIGHTS • An update on the Euro crisis • Impact of the Euro crisis on derivatives • Derivative and hedge item valuation concepts • Hedge accounting: advanced issues • Effectiveness measurement • Impairments for financial and nonfinancial • Classification and measurement for financial |
This is a live broadcast of our
Derivatives Accounting Conference 2012: Current Industry Trends & Strategies for Hedge Accounting & Financial Instruments
Agenda
MAY 22, 2012
Welcome & Opening Remarks
8:45 – 9:00 AM
ASC 815 (FAS 133): What’s on the Horizon for Hedge Accounting
9:00 – 10:15 AM
• Direction of hedge accounting guidance, including a review of comments received
– 2009 FASB Exposure Draft on hedge accounting
– 2010 invitation to comment on IFRS Exposure Draft
• Derivatives and the offsetting financial assets and financial liabilities
• Parents’ accounting for the cumulative translation adjustment upon the sale or transfer of a group
of assets
– A business within a consolidated foreign entity (EITF 11A)
Break
10:15 – 10:30 AM
IFRS vs. US GAAP on Derivatives: Convergence or Divergence?
10:30 AM – 12:00 PM
• Background on convergence
• Differing exposure draft objectives of FASB and IASB
• Update on recent events
• Comparison of exposure draft details
Networking Luncheon
12:00 – 1:00 PM
Disclosures
1:00 – 2:15 PM
• Qualitative disclosures
• Quantitative disclosures
• Data capture
Break
2:15 – 2:30 PM
Dodd-Frank Update: Where We Go from Here
2:30 – 4:00 PM
• Impact on financial and nonfinancial companies
• Use of exchanges and clearing houses
• Impact on capital and margin requirements
• Documentation and trading requirements
Break
4:00 – 4:15 PM
Embedded Derivatives
4:15 – 5:15 PM
• Roadmap for identification of embedded derivatives
• Understanding the “clearly and closely related” criteria
• Designating embedded derivatives as hedges
Cocktail Reception
5:15 – 6:15 PM
MAY 23, 2012
An Update on the Euro Crisis
8:30 – 9:45 AM
Impact of the Euro Crisis on Derivatives & Hedge Accounting
9:45 – 10:45 AM
• Impact of new currency
• Preparing for euro defections
• Changes in hedge accounting documentation
• ERP considerations
Break
10:45 – 11:00 AM
Derivative & Hedge Item Valuation Concepts
11:00 AM – 12:00 PM
• Changes in market valuation practices
• Changes in accounting valuation practices
• Considerations related to credit affecting derivatives
Networking Luncheon
Hedge Accounting: Advanced Issues Roundtable Discussions
12:00 – 1:30 PM
Commodity, interest rate and foreign exchange hedgers will be organized into luncheon groups to discuss hedge accounting issues specific to these sectors, including valuation, effectiveness testing and document management.
Effectiveness Measurement
1:30 – 2:45 PM
• Testing vs. measurement
• The future of hedge assessments
• Practical considerations
• Measurement of ineffectiveness
Break
2:45 – 3:00 PM
Breakout Sessions (Select One)
3:00 – 4:00 PM
Impairments for Financial Institutions
• Impairment framework
• Practical implications
• Derivatives and hedged items considerations
Impairments for Nonfinancial Institutions
• Impairment framework
• Practical implications
• Derivatives and hedged items considerations
Break
4:00 – 4:15 PM
Breakout Sessions (Select One)
4:15 – 5:15 PM
Classification & Measurement for Financial Institutions
• Characteristics of debt instruments
• Financial assets
• Financial liabilities
Classification & Measurement for Nonfinancial Institutions
• Characteristics of debt instruments
• Financial assets
• Financial liabilities
Conference Ends
5:15 PM
Location
Speakers
CONFERENCE CHAIRPERSON
Helen Kane, President, founded Hedge Trackers, LLC in April 2000. Her duties involve monitoring FASB/IASB pronouncements, reaching out to accounting firm derivative accounting specialists, overseeing auditor and SEC responses, and consulting with clients contemplating complex derivative accounting applications.
In addition, Ms. Kane chairs CPE INC.’s annual Accounting for Derivatives Conference featuring derivative specialists from the FASB and SEC. She also provides training to audit firms, state regulators, the AICPA Credit Union Conference, as well as guest lectures at local universities.
Before founding Hedge Trackers, Ms. Kane was a Senior Manager at Deloitte & Touche LLP in the Capital Markets Group, leading their Silicon Valley risk management practice. Prior to Deloitte, she served in treasury, finance and accounting roles for multinational corporations.
Speakers Include
Derek Bradfield, Partner, National Office, Accounting Consultation, Deloitte & Touche LLP
Ruth Hardie, Director, Interest Rate Outsourcing, Hedge Trackers, LLC
Clark Maxwell, Managing Director, Accounting Services, Chatham Financial Corporation
Sherif Sakr, Partner, Deloitte & Touche LLP
Alexey Surkov, Partner, Financial Instrument Valuation and Securitization, Deloitte & Touche LLP
Workshop
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Forum
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