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Introduction to Fund Accounting
"Course was very appropriate and beneficial to client name and daily job." Investment Management Firm, Dublin
Featured Course
Introduction to Fund Accounting
Duration: One day
Course Overview
At the end of this course participants will be able to
- Describe the respective roles of the investment manager, the administrator, the trustee, custodian and prime broker
- Describe the net asset valuation (NAV) cycle
- Explain the significance of accrual accounting and trade date accounting
- Account for subscriptions and redemptions
- Account for equity trades
- Account for fixed income trades
- Account for dividends and interest
- Calculate and account for fixed and variable fund expenses
- Produce a basic profit & loss account and balance sheet
- Complete a basic net asset valuation (NAV) calculation
- Discuss the importance of controls in fund accounting
Course Content
- Industry overview
- Types of investment funds
- Roles and responsibilities of the manager, the administrator, the trustee, the custodian, the prime broker
- Investments
- Equities
- Fixed income securities
- The NAV Cycle
- Subscriptions & Redemptions
- Equity trades
- Income
- Dividends
- Interest
- Expenses
- Fixed
- Variable
- Multiple class funds
- Pricing & Market value
- Fund accounting concepts
- Trade date accounting
- Accrual accounting
- Balance Sheet
- Profit & Loss Account
- NAV calculation
- Controls
- Reconciliations
- Pricing controls
- Measuring impact on the NAV
- Implications of NAV errors
Who should attend?
Fund administrators with no accounting background and little or no funds experience.
