Mind the GAAP! – Derivative accounting in a dual reporting world (IFRS & US GAAP)

April 20, 2017 | 3PM BST / 10AM EDT | 1 hour | Online | by Chatham Financial | Recording Available

More companies are subject to dual reporting under US GAAP and IFRS due to acquisitions, adoption of IFRS for statutory reporting, and other factors. This increase in dual reporting is coming at a time when the accounting guidance for derivatives is diverging and creating more substantial differences, including P&L impacts. Please join us for a discussion of key considerations and challenges related to dual reporting for derivatives with today’s guidance and the changes coming through IFRS 9 and the FASB’s new hedge accounting guidance.



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In this webinar, Chatham will cover the following learning objectives:
– Understand key differences in hedge accounting between IFRS and US GAAP
– Understand how IFRS 9 and the FASB’s updates to hedge accounting impact dual reporters
– Learn risk areas and complexities in derivative reporting that you need to be aware of as a dual reporter

 

Speakers:
Aaron CowanAaron Cowan, CFA leads the Corporates Accounting Advisory team providing solutions for FX, interest rate, and commodity risk, including hedge accounting. Prior to joining Chatham, Aaron worked at JPMorgan Chase in Chicago as a Vice President in the Corporate Accounting Policies group. Aaron also worked as a Manager in PricewaterhouseCoopers’ Transactions Services practice in New York and Chicago providing technical accounting and valuation assistance to audit and non-audit clients on complex areas of US GAAP, including derivatives and hedging, consolidations, and business combinations. He also spent one year at the Financial Accounting Standards Board in Connecticut as a technical assistant. Aaron graduated cum laude from the University of Utah with a BS in Accounting. He also earned an MBA in Finance from Indiana University. Aaron is a CPA in the state of New York and a CFA charter holder.

 

Kern RobertsKern Roberts is a member of the European Accounting Advisory team. Prior to joining Chatham, he worked for Barclays in their Technical Accounting Group acting as the key Technical Accounting contact for Barclays Risk Solutions Group, talking to clients about the hedge accounting issues that they faced and presenting to clients on new hedge accounting developments, as well as working with the front office structuring teams to consider the client accounting considerations arising from potential new hedging structures. In addition, he provided internal technical accounting support across finance, getting involved in everything from complex structured transactions to Barclays external financial reporting and the implementation of new accounting standards. Prior to Barclays, he held technical accounting and audit positions with Smith and Williamson and PwC. Kern is a fellow of the ICAEW and graduated from the University of Warwick with a First Class degree in Politics and Sociology.