Accounting for Financial Instruments

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John Wiley & Sons, Feb 18, 2009 - Business & Economics - 296 pages
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This practical book shows how to deal with the complicated area of accounting of financial instruments. Containing a huge number of sophisticated worked examples, the book treats this complex subject in a way that gives clear guidance on the subject. In an introductory, controversial overview of the subject, the book highlights the mistakes that both auditing firms and the accounting standard setters are making, and demonstrates the contribution the International Financial Reporting Standards have made to the current credit crisis.
 

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Contents

1 Introduction
1
2 Accounting Foundations
21
3 Corporate Governance
43
4 Hedge Accounting
65
5 Illustrative Examples Hedge Accounting
77
6 Accounting for Structured Products Market Risk
117
7 Accounting for Credit Risk
139
8 Accounting for Structured Products Credit Risk
159
9 OffBalance Sheet Accounting
177
10 Reconciliation
199
11 Moving Towards MarktoMarket Accounting
217
12 Accounting for Insurance
243
13 Conclusion
259
Glossary
265
Index
267
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About the author (2009)

Cormac Butler (London, UK & Hong Kong) is currently an active equity and options trader and a former consultant with Lombard Risk Systems London and has also worked with Peat Marwick and Coopers & Lybrand. He has presented the Accounting for Financial Instruments course for Euromoney for 8 years and worked as a consultant on financial instruments for a major accountancy firm. He has also led seminars with major banks including Salomon Brothers, Robert Fleming and Banque Paribas. He has recently conducted in-house courses for Morgan Stanley, PricewaterhouseCoopers (Holland), Investec (South Africa) and ABB (Switzerland). In addition, he has worked for IIR and Euromoney in Singapore, Hong Kong, Thailand, America Dubai and Saudi Arabia. Cormac graduated from the University of Limerick, Ireland with a degree in Finance. He is the author of Mastering Value at Risk (Financial Times Pitman).

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