Topic 815 Derivatives and Hedging

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Topic 815 Derivatives and Hedging

Learning Objectives

To examine the background and scope of Topic 815.
To discuss the latest information regarding derivatives and hedges.
To know the specific items targeted by each amendment in Topic 815.
To explore the applicable new accounting treatment for each amendment.
To discuss the effect of the amendments.
To analyze the unique disclosure and presentation requirements of Topic 815.

Course Description

Sometimes it is a challenge to keep up with the amendments in accounting standards issued by FASB. Speaker Mike Morley in this CPE webinar will quickly bring you up to date on the applicable amendments introduced by FASB in Topic 815: Derivatives and Hedging.

Topic 815 expands the current last-of-layer method that permits only one hedged layer to allow multiple hedged layers of a single closed portfolio. To reflect that expansion, the last-of-layer method is renamed the portfolio layer method. It expands the scope of the portfolio layer method to include non-prepayable financial assets.

Topic 815 specifies that eligible hedging instruments in a single-layer hedge may include spot-starting or forward-starting constant-notional swaps, or spot or forward-starting amortizing-notional swaps and that the number of hedged layers (that is, single or multiple) corresponds with the number of hedges designated. It provides additional guidance on the accounting for and disclosure of hedge basis adjustments that apply to the portfolio layer method whether a single hedged layer or multiple hedged layers are designated.

Finally, it specifies how hedge basis adjustments should be considered when determining credit losses for the assets included in the closed portfolio.

Following are the major topics covered in this CPE Accounting Course:

Basic concepts, scope, and applicability of accounting for derivatives and hedging.
Planning the approach: accounting policies and decision criteria.
Sizing up the impacts of implementation: questions you need to ask.
Specific rules and provisions for derivatives and hedging.
Recognition criteria.
Disclosure and presentation requirements.
Notes to financial statements.

Webinar Qualifies For

2 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
2 General Credit for Accountant/Bookkeeper/Tax Professionals
2 CPE Credit for Certified Internal Auditors (CIA)
2 CPE Credit for Certified Fraud Examiner (CFE)
2 CPE Credit for Certified Management Accountants (CMA)
2 CPE Credit for Certified Valuation Analyst (CVA)
2 CPD Credit for Accredited in Business Valuation (ABV)
2 CPD Credit for Certified Financial Forensics (CFF)
2 PL Credit for Chartered Financial Analyst (CFA)
2 CPE Credit for Certified Government Financial Manager (CGFM)
2 CPE Credit for Internal Audit Practitioner (IAP)
2 CE Credit for Certified Wealth Strategist (CWS)
2 CE Credit for Certified Fiduciary and Investment Risk Specialist (CFIRS)
2 CPE Credit for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA)
2 CE Credit for Certified FP&A Professional (FP&A)
2 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
2 PL Credit for CIPM

About Instructor

Michel Morley

Founder, Mike Morley

Mike Morley is a Certified Public Accountant and a recognized authority in the field of finance with more than 25 years experience in finance, including SOX and IFRS implementation.

An entertaining and informative speaker and trainer, Mike is the author of:

“IFRS Simplified” which provides a jump start for accountants and finance executives who want to quickly and easily get up to date on IFRS.

“Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.

“Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.

Additional Information

Duration

2 Hours

Course Level

Basic

Instructional Method

Group Internet Based

Pre-requisites

None

Advance Preparation

None

FAQ’s

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MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

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Cheng Chen, CPA (US)

Great course.

Daniel Greenwood, CPA (US)

very good!

Kevin Gorton, CPA (US)

Nice!

Yukio Matsushita, CPA (US)

technical knowledge

Steven Shell, CPA (US)

Interesting topic

2 Credits

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Subject Area

Accounting

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Topic 815 Derivatives and Hedging

Course Details

Learning Objectives

Course Description

Qualifies for

Webinar Qualifies For

Presenter Details

About Instructor

Michel Morley

Other Details

Additional Information

2 Hours

Basic

Group Internet Based

None

None

FAQ’s

NASBA APPROVED

Ratings and Review

4

Cheng Chen, CPA (US)

Daniel Greenwood, CPA (US)

Kevin Gorton, CPA (US)

Yukio Matsushita, CPA (US)

Steven Shell, CPA (US)

Subject Area

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