Derivative and hedge accounting can be complex and confusing. This course provides an introduction to relevant accounting and financial reporting requirements, including recent FASB changes.

Major Topics:

  • Discuss an overview of the types and elements of derivatives
  • Define hedge accounting and requirements for application to be eligible
  • Explain common hedges of financial assets and liabilities
  • Describe the impact of discontinuing hedge accounting
  • Discuss simplified hedge accounting available to nonpublic business entities

Who Should Attend:
Anyone responsible for preparing or attesting upon financial statements.

Learning Objectives
  • Recognize and recall an overview of nature and types of common derivatives.
  • Recognize what is hedge accounting and why it is desirable.
  • Identify and list recent changes to accounting and financial reporting requirements.
Last updated/reviewed: March 04, 2025
Prerequisites
Course Complexity: Foundational
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
  Course Overview
Course Syllabus
INTRODUCTION AND OVERVIEW
  Learning Objectives0:52
  Overview28:26
  Identifying Derivative Instruments27:06
  General Accounting7:24
  Cash Flow Hedge10:46
  Fair Value Hedge7:38
  Hedge Effectiveness7:38
  Private Company Alternatives10:26
CONTINUOUS PLAY
  The Basics of Derivative and Hedge Accounting1:40:16
SUPPORTING MATERIAL
  Slides: The Basics of Derivative and Hedge AccountingPDF
  The Basics of Derivative and Hedge Accounting Glossary/IndexPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam