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Course Details

Accounting for Derivatives - v08 (Course Id 1170)

QAS / Registry
Author : Jae K. Shim, Ph.D., CPA
Status : Production
CPE Credits : 2.5
IRS Credits : 0
Price : $22.45
Passing Score : 70%
Course Type: NASBA QAS - Text - Technical - NASBA Registry
Primary Subject-Field Of Study:

Accounting - Accounting for Course Id 1170

Description :

A derivative is a financial instrument or other contract that derives its value from the movement of prices, interest rates, or exchange rates associated with an underlying item. Uncertainty about the future fair value of assets and liabilities or about future cash flows exposes firms to risk. One way to manage the risk associated with fair value and cash flow fluctuations is through the use of derivatives. This continuing education course addresses the accounting and disclosure requirements related to derivative financial instruments (derivatives). Also addressed are selected disclosure requirements for other financial instruments, primarily those related to fair value and concentrations of credit risk.

Usage Rank : 0
Release : 2018
Version : 999
Prerequisites : Basic Accounting.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : Self-Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 30-Jul-2019
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - Text - Technical - NASBA Registry - 1170

Keywords : Accounting, Accounting, Derivatives, v08, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

After studying this course, you will be able to:
    1. Identify the attributes of conventional and derivative financial instruments.
    2. Recognize the risks associated with derivatives.
    3. Identify the accounting requirements for different derivatives and the related disclosure requirements.
Course Contents :

Chapter 1 - Accounting for Derivatives

Course Learning Objectives


Derivative Financial Instruments and Hedging

Definition of a Derivative

Embedded Derivatives

Hedge Accounting

ASC 815, Derivatives and Hedging

Qualifying Hedge Criteria - Effectiveness

Fair Value Hedges

Accounting Treatment

Discontinuing a Fair Value Hedge

Cash Flow Hedges

Accounting Treatment

Discontinuing a Cash Flow Hedge

Foreign Currency Hedges

Accounting Treatments

Other Considerations

Hybrid Instrument


Simplified Hedge Accounting Approach: Private Company Accounting Alternative for Certain Interest Rate Swaps

Review Questions

Concentrations of Credit Risk for All Financial Instruments

Disclosure Requirements

Offsetting of Assets and Obligations

Transfers and Servicing of Financial Assets and Extinguishments of Liabilities

Mortgage Servicing Rights

Collateral Pledged in Repurchase Agreements and Securities Lending Arrangements

Options on Issuer's Securities

ASU 2017-12: Targeted Improvements to Accounting for Hedging Activities


Key Provisions

Risk Component Hedging

The Hedged Item in Fair Value Hedges of Interest Rate Risk

Excluded Component

Recognition and Presentation of the Effects of Hedging Instruments


Authoritative Literature

Accounting for Certain Hybrid Financial Instruments

Accounting for Servicing of Financial Assets

ASC, FASB, and Difference between GAAP and IFRS

Summary of Derivatives Accounting

Review Questions

Appendix - Annual Report References


CPE Accounting Course: https://www.cpethink.com/accounting-cpa-courses
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