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IFRS for Investment Funds

"I found the course very informative and well presented. Alan knows his subject well and is a very informed speaker."

Antoinette Looney, Irish Stock Exchange

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Featured Course

IFRS for Investment Funds

Duration: One Day

Course Overview

This course prepares hedge fund and mutual fund financial reporting staff and auditors to prepare/audit fund financial statements in accordance with international financial reporting standards (IFRS).

At the end of this course participants will be able to

• Identify the role and objective of the International Accounting Standards Board
• Outline the IFRS requirements for classifying a financial instrument as a liability or equity and assess the implications for an Investment Fund
• Identify the IFRS rules for the initial recognition and classification of financial instruments and apply them to instruments typically traded by an Investment Fund
• Outline the IFRS rules for the de-recognition of financial instruments and evaluate the application of these rules to an Investment Fund
• Describe the IFRS rules for subsequent measurements at fair value and apply them to each of the main types of financial instruments held by an Investment Fund
• Classify fair value instruments as level 1,2 or 3 in the fair value hierarchy
• List the main disclosure requirements for financial instruments contained in IFRS
• Identify the circumstances where consolidation may be required by an Investment Fund
• Outline the main steps that are taken to complete the consolidation of a parent and its subsidiaries for master-feeder structures and for fund of funds structures
• Discuss current development for IFRS and investment funds

Course Content

• Role and objective of the IASB

• Financial Instruments
  • Classification as liability or equity
  • Initial recognition
  • Initial measurement
  • Classification of financial assets
    • Financial assets at fair value through profit & loss
    • Available-for-sale
    • Loans & receivables
    • Held-to-maturity
  • Classification of financial liabilities
  • De-recognition
  • Subsequent measurement-fair value
  • Disclosure – Significance of financial instruments
  • Disclosure – The fair value hierarchy
  • Disclosure – Nature & risks arising from financial instruments
    • Qualitative & quantitative
    • Credit, liquidity & market risk

• Consolidated Financial Statements
  • Background
  • Master feeder structures
  • Fund of funds

• Current Developments

Who should attend?

Staff responsible for the preparation or audit of fund financial statements in accordance with international financial reporting standards. 
Participants on this course should be familiar with basic fund financial statements.

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