Accounting for Investments, Volume 2--Fixed Income and by R. Venkata Subramani PDF

By R. Venkata Subramani

ISBN-10: 0470829052

ISBN-13: 9780470829059

The monetary situation that begun in mid-2007 led to the accounting commonplace setters and industry regulators around the globe to return up with a number of proposals to switch the accounting criteria. Accounting for Investments, quantity 2: fastened source of revenue and rate of interest Derivatives covers the revised criteria which are already mentioned and covers the proposals which are presently being reviewed. The booklet starts with the fundamentals for the monetary items coated, defining the product, how it is dependent, its benefits and drawbacks, and different occasions within the exchange existence cycle. It then offers an exhaustive remedy of assorted accounting entries that are supposed to be recorded by means of any entity retaining investments within the type of mounted source of revenue securities and rate of interest derivatives.

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Additional info for Accounting for Investments, Volume 2--Fixed Income and Interest Rate Derivatives. A Practitioner's Handbook

Example text

The status of various financial instruments for hedging purposes is covered in this chapter. Chapter 7: Interest Rate Swaps—Receive Fixed Pay Floating—This chapter covers the accounting aspects of interest rate swaps—receive fixed and pay floating. Meaning of interest rate swap—receive fixed and pay floating is explained with an illustration. The definition of a derivative as per US GAAP and as per IFRS is then given. The trade life cycle for an interest rate swap contract is given with the accounting entries to be passed at the various stages.

Earlier application is permitted. If an entity applies this IFRS in its financial statements for a period beginning before 1 January 2013, it shall disclose that fact. CHAPTER 2 Fixed Income Securities—Fair Value through Profit or Loss LEARNING OBJECTIVES After studying this chapter you will be able to get a grasp of the following: Meaning and definition of fixed income securities Classification of debt securities as “fair value through profit or loss” Accounting for fixed income securities in light of relevant accounting standards Trade life cycle of fixed income security investments held for trading purposes Accounting journal entries to be recorded during the different phases of the trade life cycle Illustration of accounting for investments in fixed income securities held for trading purposes Preparation of general ledger accounts Preparation of income statement, balance sheet after the bond investments are made Disclosure requirements for investments in fixed income securities FX revaluation and FX translation process Functional currency, foreign currency and presentation currency Distinction between capital gain and currency gain in unrealized gain MEANING AND DEFINITION OF FIXED INCOME SECURITIES Fixed income security refers to any type of investment that yields a regular or fixed return.

Recording the trade; accounting for the upfront fee in the form of premium on the trade; receiving or paying the interest on the coupon date depending upon the actual interest rate; valuation entries on valuation date; and termination of the trade and accounting for termination fee are all covered. An illustration gives the accounting aspects of an interest rate floors contract in the functional currency. One problem as a holder of the floor instrument and another problem as a writer of the floor instrument are also provided.

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Accounting for Investments, Volume 2--Fixed Income and Interest Rate Derivatives. A Practitioner's Handbook by R. Venkata Subramani


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