Derivatives Accounting Conference 2012: Current Industry Trends & Strategies for Hedge Accounting & Financial Instruments

C282EDCA30012

C282

May 22

May 23

Conference

2012-Derivatives-Accounting-Conference.pdf

NASBA Field of Study: Accounting

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 to learn the best ways to stay compliant with new FASB and SEC rules from the Big 4 and industry experts.

AGENDA HIGHLIGHTS

• ASC 815 (FAS 133): what’s on the horizon for hedge accounting?

• IFRS vs. US GAAP on derivatives: convergence or divergence?

• Disclosures

• Dodd-Frank update: where we go from here

• Embedded derivatives

• An update on the Euro crisis

• Impact of the Euro crisis on derivatives and hedge accounting

• Derivative and hedge item valuation concepts

• Hedge accounting: advanced issues

• Effectiveness measurement

• Impairments for financial and nonfinancial institutions

• Classification and measurement for financial and nonfinancial institutions

This program is also available via live webcast
Webcast - Derivatives Accounting Conference 2012: Current Industry Trends & Strategies for Hedge Accounting & Financial Instruments

Agenda

MAY 22, 2012

Deluxe Continental Breakfast & Registration
8:00 – 8:45 AM

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

Deluxe Continental Breakfast
8:00 – 8:30 AM

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

The Ritz-Carlton, Pentagon City

1250 South Hayes Street

Arlington

VA 22202

(703) 415-5000

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

Title
Accounting for Derivatives: An Overview

Forum

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