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OD: Derivative Instruments and GASB 53

Recorded April 30, 2010

Overview

For years public institutions and governmental organizations have managed price and interest rate variations through the use of derivative instruments. GASB Statement No. 53 “Accounting and Financial Reporting for Derivative Instruments,” is effective for FY10 financial reporting for public institutions. The business office must develop an understanding and inventory of derivatives, and implement the standard this fiscal year.

What You Will Learn:

  • Learn the fundamentals of derivative instruments
  • Become familiar with risks associated with underlying assets, counterparties, and instrument features
  • Hear how the GASB standard applies to management intent, characteristics, and performance of derivatives
  • Understand how to inventory and evaluate derivatives to comply with accounting and reporting requirements.

Who Should Participate?

  • Controllers
  • AVPs of finance and administration
  • CFOs
  • Financial reporting managers

Meet the Presenters:

  • Jim Towne, Senior Vice President, DerivActiv, LLC
  • Randy Finden, Project Manager, GASB
  • Cheryl Soper, Controller and Director Financial Operations, University of Michigan
  • John Sullivan, Division Controller, Investment Accounting, University of Michigan

     

Course Information:

  • Course Level: Intermediate
  • Length: 120 minutes
  • Prerequisites: none
  • Fees

    Member: $0.00
    Non-Member: $49.00

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