Description
Many small- and mid-size entities hold less complex investments, including mutual funds, ‘plain vanilla’ derivatives (such as interest rate swaps), and permanent life insurance policies. This module will provide an overview for evaluating the proper recognition, measurement, and disclosure of the most common investment types.
Major Topics:
- Overview of the most common investment types
- Typical audit risks and related audit procedures for common investments
- The basics of accounting for equity investments in other entities
- Understanding common ‘plain vanilla’ derivatives, like interest rate swaps
- Fair value disclosure, including applying the fair value hierarchy
