FAS 133 Hedge Accounting
Tim Williams (Treasurer, NA)
| Apr 29, 2011I am trying to make sure that I am "up to speed" on FAS 133 accounting given Frank Dodd. Does anyone have good resources to share on staying on top of FAS 133 related accounting pronouncements and properly accounting for derviates in compliance with FAS 133 and related pronouncements?
Topics:
Answers
Company: Wester Union Business Solutions
Hi,
I am not specialist on this field but it you can provide with your personal email at victor [dot] hinojosa
business [dot] westernunion [dot] com I can direct your question to an international accounting firm.
Regards,
Victor Hinojosa, CTP
Company: Consultant
Hi Tim,
Derivatives and hedge accounting is one of the most complex topics. Even the guide books that have been written by the Big 4 are at least 500-800 pages each.
I see from your profile that you are in San Francisco. I work in the financial district in SF. So if you are interested please feel free to contact me and we can connect for lunch. I can then assess your needs and then provide you with the appropriate resources to get you "up-to-speed".
Best regards,
Sunil Thukral, CPA, CFA
theIFRS [dot] com
Email: sunil
Company: Packaging Dynamics
I would recommend you leverage your external auditors to get information beyond the pronouncements. We use PwC Comperio, which is a technical online tool that goes beyond the pronouncements. Even with this information, this is a very complicated topic. You typically have to perform regression testing and other prospective tests. The methodology and suggested requirements may be slightly different based on the public accounting firm you use.