Accounting for financial instruments:
"Accounting for Financial Instruments is designed to address the practical difficulties that accountants and auditors face when dealing with complex financial instruments. Accounting rules have been slow to catch up with the advent of complex derivative instruments, while the need for an improv...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Chichester
Wiley
2009
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Zusammenfassung: | "Accounting for Financial Instruments is designed to address the practical difficulties that accountants and auditors face when dealing with complex financial instruments. Accounting rules have been slow to catch up with the advent of complex derivative instruments, while the need for an improved accounting framework in financial institutions is greater than ever in view of the current financial crisis. The author makes use of practical examples (including extracts from accounts) and case studies to give depth to his analysis of various issues in accounting for derivatives." "This work's combination of discussion and practical examples makes it a useful reference for accountants dealing with these products. It provides guidance on expected future regulatory changes in accounting for these instruments, and is a valuable expose of the weaknesses in accounting procedures. It will be of interest to accountants, auditors, compliance officers, and anyone working with derivative products."--BOOK JACKET. |
| Beschreibung: | XIII, 282 S. graph. Darst. |
| ISBN: | 9780470699805 0470699809 |
Internformat
MARC
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| 520 | 1 | |a "Accounting for Financial Instruments is designed to address the practical difficulties that accountants and auditors face when dealing with complex financial instruments. Accounting rules have been slow to catch up with the advent of complex derivative instruments, while the need for an improved accounting framework in financial institutions is greater than ever in view of the current financial crisis. The author makes use of practical examples (including extracts from accounts) and case studies to give depth to his analysis of various issues in accounting for derivatives." "This work's combination of discussion and practical examples makes it a useful reference for accountants dealing with these products. It provides guidance on expected future regulatory changes in accounting for these instruments, and is a valuable expose of the weaknesses in accounting procedures. It will be of interest to accountants, auditors, compliance officers, and anyone working with derivative products."--BOOK JACKET. | |
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| 650 | 0 | |a Financial instruments / Accounting / Standards | |
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| 650 | 7 | |a Bilanzierung |2 stw | |
| 650 | 7 | |a Corporate Governance |2 stw | |
| 650 | 7 | |a Fair-Value-Bewertung |2 stw | |
| 650 | 7 | |a Finanzderivat |2 stw | |
| 650 | 7 | |a Finanzmarktkrise |2 stw | |
| 650 | 7 | |a Hedging |2 stw | |
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| 650 | 7 | |a International Financial Reporting Standards |2 stw | |
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Datensatz im Suchindex
| _version_ | 1804138647155376128 |
|---|---|
| adam_text | Contents
Preface
xi
1
Introduction
1
1.1
Introduction
1
1.2
Scope of the book
4
1.3
Background
6
1.4
Concerns over the misuse of financial instruments
8
1.5
Complexity
10
1.6
Revenue recognition
11
1.7
Inappropriate reward incentives
11
1.8
Protection for shareholders
15
1.9
Measuring the traders dilemma
16
2
Accounting Foundations
21
2.1
Introduction
21
2.2
IASB improvements
22
2.3
The framework
23
2.4
Fair value or cost
24
2.5
Artificial volatility
-6
2.6
Cost model
28
2.7
Cherry-picking
28
2.8
Subjective valuations
29
2.9
Proactive vs. reactive
29
2.10
Goodwill
29
2.11
Market value accounting
30
2.12
IFRS and its contribution to banking crises
31
2.13
IFRS post-Enron
32
2.14
Conclusion 41
viii
_______Contents___________________________________________________________________________
3
Corporate Governance
43
3.1
Introduction
43
3.2
Corporate governance
44
3.3
Small vs. large shareholdings
45
3.4
Traders dilemma
46
3.5
Moral hazard
47
3.6
Credit rating agencies I
48
3.7
Shareholder democracy
49
3.8
Structured products
50
3.9
Revenue recognition
53
3.10
Non-consolidation
54
3.11
Credit rating agencies II
57
3.12
Accounting standards and lobbying
59
3.13
Investment entities
60
3.14
Conclusion
61
Appendix: Constant proportion debt obligations
62
4
Hedge Accounting
65
4.1
Introduction
65
4.2
Accounting for forward contracts
66
4.3
Accounting pre-IAS
39 67
4.4
Artificial volatility
68
4.5
Hedge accounting rules
69
4.6
Example: Forward rate agreement
74
4.7
Conclusion
76
5
Illustrative Examples: Hedge Accounting
77
5.1
Introduction
77
5.2
Illustration: Fair value hedge
78
5.3
Credit spreads
83
5.4
Cash flow interest rate swaps
91
5.5
Time value vs. change in interest rates
94
5.6
Long method fair value hedge
97
5.7
Foreign exchange hedge
100
Appendix: Documentation
1
]4
6
Accounting for Structured Products (Market Risk)
117
6.1
Introduction
1 ]
γ
6.2
Risk adjusted return on capital
118
6.3
Bifurcation rules
120
6.4
The reward for risk
121
6.5
Protection for shareholders
121
6.6
Illustration: The structured products problem
122
6.7
The accounting treatment under embedded derivative rules
126
6.8
Past mistakes
127
6.9
Conclusion
128
Contents
Appendix 6.1 :
Overview of embedded derivative rules in international
accounting reporting standards
129
Appendix
6.2:
Introduction to derivatives
129
7
Accounting for Credit Risk
139
7.1
Introduction
139
7.2
Loan approvals
142
7.3
Credit spreads
144
7.4
Accounting standards
146
7.5
Credit rating agencies
147
7.6
Credit derivatives
148
7.7
Accounting for loans
151
7.8
Changes in the accounting standards
153
7.9
Accounting rules on credit derivatives and financial
guarantees
156
7.10
Structured credit products: an extra layer of complexity 1
56
8
Accounting for Structured Products (Credit Risk)
159
8.1
Introduction
159
8.2
Securitisation overview
160
8.3
Regulatory arbitrage
162
8.4
Prepayment risk synthetic securitisations
162
8.5
Accounting for credit risk
164
8.6
Accountants, regulators and credit agencies
165
8.7
Complexity
168
8.8
Disclosure
169
8.9
Credit
Suisse
fiasco
169
8.10
Monoline
insurance companies
171
8.11
Accounting implications
172
8.12
First to default
173
8.13
SFAS
157
valuations
174
8.14
Conclusion
174
9
Off-Balance Sheet Accounting
177
9.1
Introduction
177
9.2
Off-balance sheet manipulation
178
9.3
Case studies: off-balance sheet
180
9.4
Accounting implications
185
10
Reconciliation
199
10.1
Introduction
199
10.2
Middle office
201
10.3
Initial and variation margin
204
10.4
Example: Illustration of reconciliation
208
10.5
Conclusion
216
Contents
11
Moving Towards
Mark-to-Market
Accounting
217
11.1
Introduction
217
11.2
Liquidity and fair value
217
11.3
Banking vs. trading book
219
11.4
VaR
223
11.5
Basel
2 230
11.6
Accounting for VaR and IFRS
7 235
11.7
Conclusion
241
12
Accounting for Insurance
243
12.1
Introduction
243
12.2
Significance of insurance risk
244
12.3
IFRS vs. embedded value reporting
248
12.4
Finite insurance and unbundling
250
12.5
Other aspects of IFRS
4 252
12.6
Phase two embedded value
253
Appendix: The collapse of AIG
255
13
Conclusion
259
Glossary
265
Index
267
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| indexdate | 2024-07-09T21:31:30Z |
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| spelling | Butler, Cormac Verfasser aut Accounting for financial instruments Cormac Butler Chichester Wiley 2009 XIII, 282 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier "Accounting for Financial Instruments is designed to address the practical difficulties that accountants and auditors face when dealing with complex financial instruments. Accounting rules have been slow to catch up with the advent of complex derivative instruments, while the need for an improved accounting framework in financial institutions is greater than ever in view of the current financial crisis. The author makes use of practical examples (including extracts from accounts) and case studies to give depth to his analysis of various issues in accounting for derivatives." "This work's combination of discussion and practical examples makes it a useful reference for accountants dealing with these products. It provides guidance on expected future regulatory changes in accounting for these instruments, and is a valuable expose of the weaknesses in accounting procedures. It will be of interest to accountants, auditors, compliance officers, and anyone working with derivative products."--BOOK JACKET. Financial instruments / Accounting Financial instruments / Accounting / Standards Außerbilanzgeschäft stw Bilanzierung stw Corporate Governance stw Fair-Value-Bewertung stw Finanzderivat stw Finanzmarktkrise stw Hedging stw Hybrides Finanzprodukt stw International Financial Reporting Standards stw Welt stw Financial instruments Accounting Financial instruments Accounting Standards Bilanz (DE-588)4006566-2 gnd rswk-swf Finanzinstrument (DE-588)4461672-7 gnd rswk-swf Finanzinstrument (DE-588)4461672-7 s Bilanz (DE-588)4006566-2 s b DE-604 Digitalisierung UB Bamberg application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=017138192&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Butler, Cormac Accounting for financial instruments Financial instruments / Accounting Financial instruments / Accounting / Standards Außerbilanzgeschäft stw Bilanzierung stw Corporate Governance stw Fair-Value-Bewertung stw Finanzderivat stw Finanzmarktkrise stw Hedging stw Hybrides Finanzprodukt stw International Financial Reporting Standards stw Welt stw Financial instruments Accounting Financial instruments Accounting Standards Bilanz (DE-588)4006566-2 gnd Finanzinstrument (DE-588)4461672-7 gnd |
| subject_GND | (DE-588)4006566-2 (DE-588)4461672-7 |
| title | Accounting for financial instruments |
| title_auth | Accounting for financial instruments |
| title_exact_search | Accounting for financial instruments |
| title_full | Accounting for financial instruments Cormac Butler |
| title_fullStr | Accounting for financial instruments Cormac Butler |
| title_full_unstemmed | Accounting for financial instruments Cormac Butler |
| title_short | Accounting for financial instruments |
| title_sort | accounting for financial instruments |
| topic | Financial instruments / Accounting Financial instruments / Accounting / Standards Außerbilanzgeschäft stw Bilanzierung stw Corporate Governance stw Fair-Value-Bewertung stw Finanzderivat stw Finanzmarktkrise stw Hedging stw Hybrides Finanzprodukt stw International Financial Reporting Standards stw Welt stw Financial instruments Accounting Financial instruments Accounting Standards Bilanz (DE-588)4006566-2 gnd Finanzinstrument (DE-588)4461672-7 gnd |
| topic_facet | Financial instruments / Accounting Financial instruments / Accounting / Standards Außerbilanzgeschäft Bilanzierung Corporate Governance Fair-Value-Bewertung Finanzderivat Finanzmarktkrise Hedging Hybrides Finanzprodukt International Financial Reporting Standards Welt Financial instruments Accounting Financial instruments Accounting Standards Bilanz Finanzinstrument |
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