LEADER 05169nam 2200601Ia 450 001 9910146126603321 005 20230721021104.0 010 $a1-119-20698-7 010 $a1-282-02824-3 010 $a9786612028243 010 $a0-470-74375-1 035 $a(CKB)1000000000725085 035 $a(EBL)437495 035 $a(OCoLC)367591190 035 $a(SSID)ssj0000096540 035 $a(PQKBManifestationID)12025268 035 $a(PQKBTitleCode)TC0000096540 035 $a(PQKBWorkID)10097276 035 $a(PQKB)11718771 035 $a(MiAaPQ)EBC437495 035 $a(EXLCZ)991000000000725085 100 $a20090223d2009 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aAccounting for financial instruments$b[electronic resource] /$fCormac Butler 210 $aChichester, England ;$aHoboken, NJ $cWiley$dc2009 215 $a1 online resource (298 p.) 300 $aDescription based upon print version of record. 311 $a0-470-69980-9 320 $aIncludes bibliographical references and index. 327 $aAccounting for Financial Instruments; Contents; Preface; 1 Introduction; 1.1 Introduction; 1.2 Scope of the book; 1.3 Background; 1.4 Concerns over the misuse of financial instruments; 1.5 Complexity; 1.6 Revenue recognition; 1.7 Inappropriate reward incentives; 1.8 Protection for shareholders; 1.9 Measuring the 'traders' dilemma'; 2 Accounting Foundations; 2.1 Introduction; 2.2 IASB improvements; 2.3 The framework; 2.4 Fair value or cost; 2.5 Artificial volatility; 2.6 Cost model; 2.7 Cherry-picking; 2.8 Subjective valuations; 2.9 Proactive vs. reactive; 2.10 Goodwill 327 $a2.11 Market value accounting2.12 IFRS and its contribution to banking crises; 2.13 IFRS post-Enron; 2.14 Conclusion; 3 Corporate Governance; 3.1 Introduction; 3.2 Corporate governance; 3.3 Small vs. large shareholdings; 3.4 Traders' dilemma; 3.5 Moral hazard; 3.6 Credit rating agencies I; 3.7 Shareholder democracy; 3.8 Structured products; 3.9 Revenue recognition; 3.10 Non-consolidation; 3.11 Credit rating agencies II; 3.12 Accounting standards and lobbying; 3.13 Investment entities; 3.14 Conclusion; Appendix: Constant proportion debt obligations; 4 Hedge Accounting; 4.1 Introduction 327 $a4.2 Accounting for forward contracts4.3 Accounting pre-IAS 39; 4.4 Artificial volatility; 4.5 Hedge accounting rules; 4.6 Example: Forward rate agreement; 4.7 Conclusion; 5 Illustrative Examples: Hedge Accounting; 5.1 Introduction; 5.2 Illustration: Fair value hedge; 5.3 Credit spreads; 5.4 Cash flow interest rate swaps; 5.5 Time value vs. change in interest rates; 5.6 Long method fair value hedge; 5.7 Foreign exchange hedge; Appendix: Documentation; 6 Accounting for Structured Products (Market Risk); 6.1 Introduction; 6.2 Risk adjusted return on capital; 6.3 Bifurcation rules 327 $a6.4 The reward for risk6.5 Protection for shareholders; 6.6 Illustration: The structured products problem; 6.7 The accounting treatment under embedded derivative rules; 6.8 Past mistakes; 6.9 Conclusion; Appendix 6.1: Overview of embedded derivative rules in international accounting reporting standards; Appendix 6.2: Introduction to derivatives; 7 Accounting for Credit Risk; 7.1 Introduction; 7.2 Loan approvals; 7.3 Credit spreads; 7.4 Accounting standards; 7.5 Credit rating agencies; 7.6 Credit derivatives; 7.7 Accounting for loans; 7.8 Changes in the accounting standards 327 $a7.9 Accounting rules on credit derivatives and financial guarantees7.10 Structured credit products: an extra layer of complexity; 8 Accounting for Structured Products (Credit Risk); 8.1 Introduction; 8.2 Securitisation overview; 8.3 Regulatory arbitrage; 8.4 Prepayment risk synthetic securitisations; 8.5 Accounting for credit risk; 8.6 Accountants, regulators and credit agencies; 8.7 Complexity; 8.8 Disclosure; 8.9 Credit Suisse fiasco; 8.10 Monoline insurance companies; 8.11 Accounting implications; 8.12 First to default; 8.13 SFAS 157 valuations; 8.14 Conclusion 327 $a9 Off-Balance Sheet Accounting 330 $aThis practical book shows how to deal with the complicated area of accounting of financial instruments. Containing a huge number of sophisticated worked examples, the book treats this complex subject in a way that gives clear guidance on the subject. In an introductory, controversial overview of the subject, the book highlights the mistakes that both auditing firms and the accounting standard setters are making, and demonstrates the contribution the International Financial Reporting Standards have made to the current credit crisis. 606 $aFinancial instruments$xAccounting 606 $aFinancial instruments$xAccounting$xStandards 615 0$aFinancial instruments$xAccounting. 615 0$aFinancial instruments$xAccounting$xStandards. 676 $a657.76 700 $aButler$b Cormac$0920403 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910146126603321 996 $aAccounting for financial instruments$92064423 997 $aUNINA