Accounting for Investments, Fixed Income Securities and Interest Rate Derivatives

Accounting for Investments, Fixed Income Securities and Interest Rate Derivatives, Accounting for Investments, Fixed Income Securities and Interest Rate Derivatives

A Practitioner's Handbook
Accounting for Investments Volume 2

von: R. Venkata Subramani

129,99 €

Verlag: Wiley
Format: EPUB
Veröffentl.: 07.07.2011
ISBN/EAN: 9780470829059
Sprache: englisch
Anzahl Seiten: 650

DRM-geschütztes eBook, Sie benötigen z.B. Adobe Digital Editions und eine Adobe ID zum Lesen.


A comprehensive guide to new and existing accounting practices for fixed income securities and interest rate derivatives The financial crisis forced accounting standard setters and market regulators around the globe to come up with new proposals for modifying existing practices for investment accounting. Accounting for Investments, Volume 2: Fixed Income and Interest Rate Derivatives covers these revised standards, as well as those not yet implemented, in detail. Beginning with an overview of the financial products affected by these changes—defining each product, the way it is structured, its advantages and disadvantages, and the different events in the trade life cycle—the book then examines the information that anyone, person or institution, holding fixed income security and interest rate investments must record. Offers a comprehensive overview of financial products including fixed income and interest rate derivatives like interest rate swaps, caps, floors, collars, cross currency swaps, and more Follows the trade life cycle of each product Explains how new and anticipated changes in investment accounting affect the investment world Accurately recording and reporting investments across financial products requires extensive knowledge both of new and existing practices, and Accounting for Investments, Volume 2, Fixed Income Securities and Interest Rate Derivatives covers this important topic in-depth, making it an invaluable resource for professional and novice accountants alike.
Foreword xxiii Introduction xxv Preface xxvii Acknowledgments xxxi Chapter 1 Fixed Income Securities—Theory 1 Chapter 2 Fixed Income Securities—Fair Value through Profi t or Loss 11 Chapter 3 Fixed Income Securities—Available-for-Sale 113 Chapter 4 Fixed Income Securities—Held-to-Maturity 195 Chapter 5 Presentation, Disclosures & Reclassifi cation 251 Chapter 6 Interest Rate Derivatives—Theory 267 Chapter 7 Interest Rate Swaps—Receive Fixed Pay Floating 283 Chapter 8 Interest Rate Swaps—Pay Fixed Receive Floating 335 Chapter 9 Interest Rate Caps 389 Chapter 10 Interest Rate Floors 483 Chapter 11 Interest Rate Collar 563 Chapter 12 Cross-Currency Swaps (XCCY Swaps) 631 Bibliography 705 Index 707
A graduate of the University of Madras, Venkata Subramani is a Chartered Accountant who began his career with a professional accounting firm in Chennai. Venkat is currently Product Manager at Calypso Technology, a global financial software and services company delivering integrated cross-asset solutions for trading, risk, processing and control, serving a broad spectrum of customers including financial institutions, prime brokers, asset managers, hedge funds, insurers, corporates and exchanges. Venkat’s expertise includes accounting and reporting for different types of financial instruments as per US GAAP and IFRS. Previously he was managing a team of core finance and accounts professionals in a US-based hedge fund administration firm serving several global clients. Venkata Subramani lives in Chennai with his wife and daughter.
Accounting for Investments Volume 2: Fixed Income Securities and Interest Rate Derivatives - A Practitioner's Guide is one of the most comprehensive reference works on accounting for financial products. This companion volume to Accounting for Investments Volume 1: Equities, Futures and Options starts from fixed income securities and interest rates. Accounting for Investments Volume 2 starts from the basics for the financial products covered, defining the product, the way it is structured, its advantages and disadvantages, the different events in the trade life cycle and then elaborates on the accounting entries that are necessary for the same. The book also explains how the entries get reflected in the general ledger accounts, giving a macro-level picture for the reader to understand the basics of the effect of such accounting. This volume is the presentation of the results in the final accounts—the income statement and balance sheet and disclosure requirements are also covered. Accounting for Investments Volume 2 will prove useful to an expert as well as a novice, not to mention the ever-increasing number of technology consultants who require for such a book. While generally accepted US accounting principles and the International Financial Reporting Standards (IFRS) are given adequate treatment, the readers are advised to refer to the appropriate GAAP requirements for their own country. The accounting standards that are dealt with here in the book can, however, be used as a benchmark to understand the specific requirements of other countries.
While there are a number of outstanding texts on valuation of interest rate derivatives, there are hardly any that provide a comprehensive treatment of the relevant accounting principles. Venkata Subramani's well-structured book does a great job in filling this void. For each instrument, the author first provides a clear description of the product and its associated cashflows. He then proceeds to discuss the finer aspects of accounting using detailed examples which will definitely enrich the reader's knowledge of the subject. This book, written by a leading subject expert, is definitely unique in its treatment and content. Prof. R. L. Shankar Head, Center for Advanced Financial Studies, Institute of Financial Management and Resource (IFMR) Program Director, MBA-Financial Engineering Chennai, India This second volume by R. Venkata Subramani is a valuable contribution to the accounting and finance literature providing comprehensive coverage of accounting for fixed income securities and interest rate derivatives. Subramani provides a systematic and step-by-step description of, and accounting for, all the possible events and transactions in the life of the security or derivative concerned. This excellent feature makes it effective for the reader to attain an in-depth understanding of the topics covered. I am sure that this book will be greatly appreciated by users of financial statements, academics and business students. Srinivasan Rangan Associate Professor of Finance and Control Indian Institute of Management Bangalore, India The recent global financial crisis has resulted in a thorough review and overhaul of accounting standards in order to improve financial reporting and enhance investor confidence. Although accounting for fixed income and derivative financial instruments is complex this book provides the reader with a clear and concise explanation of this intricate subject. The informative product descriptions and detailed explanations of the accounting events at each stage of the trade life cycle will be of great benefit to those who want to gain a better understanding of this intricate topic. Loretta Wickenden Chief Executive Officer Latilla LLC USA With this second volume Venkata Subramani has structured a very comprehensive book focused on accounting for fixed income securities and interest rate derivatives. This author puts in perspective a very detailed and exhaustive presentation of the nuances of the different flavors of financial instruments and a detailed description of the related accounting events and associated entries. It becomes very effective because every example details how the life cycle of financial instruments interacts with the accounting output making this book a helpful bridge between the financial products and their accounting translation. Jean-Daniel Morfin Product Manager Calypso Technology France

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