By R. Venkata Subramani
The monetary concern that began in mid-2007 led to the accounting regular setters and marketplace 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 said and covers the proposals which are presently being reviewed. The e-book starts off with the fundamentals for the monetary items coated, defining the product, how it is based, its benefits and downsides, and the various occasions within the alternate lifestyles cycle. It then supplies an exhaustive remedy of varied accounting entries that are meant to be recorded through any entity retaining investments within the kind of mounted source of revenue securities and rate of interest derivatives.
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Extra info for Accounting for Investments, Volume 2--Fixed Income and Interest Rate Derivatives. A Practitioner's Handbook
Financial liability A financial liability is defined as one of the following types of liabilities as per the accounting standards: A contractual obligation; To deliver cash or another financial asset to another entity; To exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavorable to the entity; A contract that will/may be settled in the entity’s own equity instruments and is: A non-derivative resulting in delivering a variable number of the entity’s own equity instruments; A derivative that will/may be settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments.
The trade life cycle for an interest rate cap contract viz. recording the trade; accounting for the upfront fee in the form of premium on the trade; receive or pay 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 cap contract in the functional currency. One problem as a holder of the cap instrument and another problem as a writer of the cap instrument are also given here.
However, for the sake of convenience the requirements are all bunched and presented in this chapter only. Readers should understand that these requirements should be taken to be an inclusive component of the illustrations and solutions to the problems throughout the book. Chapter 6: Interest Rate Derivatives—Theory—This chapter covers the theoretical aspects of interest rate derivatives. First an explanation of what is meant by derivatives in a financial instrument is explained, followed by a definition of derivatives as per US GAAP as well as IFRS accounting standards.
Accounting for Investments, Volume 2--Fixed Income and Interest Rate Derivatives. A Practitioner's Handbook by R. Venkata Subramani