This course offers a detailed exploration of the unique accounting requirements for investment companies. It features thorough guidance on handling complex capital structures, including different classes of shares and the intricacies of master-feeder funds and funds of funds. Participants benefit from learning the critical aspects of calculating net asset value, accounting for investment portfolios, and the essential steps to prepare comprehensive financial statements for an investment company. Additionally, the course covers the nuances of investment transaction recognition and the requirements for keeping records under the 1940 Act. By mastering these elements, attendees will be able to confidently manage and report on investment company accounts, enhancing their professional skill set and value to their organizations.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Identify an investment company's service providers.
Specify the characteristics of complex capital structures in an investment company.
Describe the timing for when investment transactions are recognized.
Identify the accounting records that the 1940 Act requires an investment company to keep.
Specify how net asset value is determined.
Identify the different types of valuation options that may be applied to investments.
Recall how a clawback arrangement functions within an investment company.
Recall the steps required to complete a short selling transaction.
Identify the contents of an investment company's financial statements.
Major Topics
Complex Capital Structures
Transaction Dating
Investment Accounts
Financial Instruments
Financial Statements
