Book Description
Accounting for Derivatives and Hedging, by Mark Trombley, is a short (250-page) supplement for Advanced Accounting and other upper level accounting courses. While many books used for these courses contain some coverage of Derivatives, professors must spend valuable time preparing their own materials in order to thoroughly cover this complex subject. Trombley's text provides the desired information and detail, allowing faculty to cover derivatives in class without a lot of prep work. Using simple but realistic examples, Trombley explains options, forwards, futures, swaps, and other types of derivatives, and helps students understand applications of derivative financial instruments.
Customer Reviews:
Nice attempt, fails in execution.......2004-11-20
The book provides an introduction to the accounting for derivatives. Its attempt is good, but it fails because it attempts to cover too much and worse it is riddled with mistakes. Many examples have one or more errors, making the book frustrating to follow.
Average customer rating:
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CCH Accounting for Derivatives and Hedging (2007)
James F. Green
Manufacturer: CCH, Inc.
ProductGroup: Book
Binding: Perfect Paperback
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ASIN: 0808090380
Release Date: 2006-08-22 |
Product Description
CCH Accounting for Derivatives and Hedging offers professionals comprehensive guidance for applying the intricate and expansive requirements of FASB Statement No. 133, Accounting for Derivative Instruments and Hedging Activities, and its amendments. Since its issuance, the FASB has amended and interpreted Statement 133 numerous times, making the accounting guidance for derivatives and hedging activities one of the most complex and frequently misunderstood accounting principles used in business today. CCH Accounting for Derivatives and Hedging helps users identify the nuances of accounting for these types of activities and provides practical guidance on how to apply these principles to typical situations currently encountered in practice in numerous types of transactions, including: fair value hedges; interest-rate swaps; cash flow hedges; embedded derivative instruments; net investment hedges; and disclosures. This expansive guide provides professionals with a practical resource by selectively combining information from the official text of the FASB, along with information drawn from the rules and releases of the SEC, consensuses of the EITF, and lessons learned from leading practitioners in the field. CCH Accounting for Derivatives and Hedging is composed of five major sections. SECTION I encompasses the scope and definition of derivative instruments, embedded derivative instruments, and the recognition of derivatives and measurement of derivatives and hedged items. SECTION II covers fair value hedging. SECTION III deals with cash flow hedges. SECTION IV details foreign currency hedges, accounting by nonprofit organizations and other entities that do not report earnings, disclosures, reporting changes in the components of comprehensive income, and implementation guidance. SECTION V covers recent developments.
Product Description
CCH Accounting for Derivatives and Hedging (2006) is a comprehensive guide designed to help practitioners understand complex derivatives accounting procedures. This guide is arranged in four clear, concise sections:
1. Scope and definition, instruments and measurements
2. Fair value hedging
3. Cash for hedges
4. Foreign currency hedges, accounting by nonprofit organizations, and other entities that do not report earnings or disclosures
5. Covers recent developments
This authoritative guide also includes an Appendix on derivative accounting prior to Statement 133, summarizing the key differences between Statement 133 and previous GAAP, an index of accounting literature cited, and a glossary
CONTENTS: SECTION I: - Overview to Statement 133 - Introduction - Scope and Definition - Embedded Derivative Instruments - Recognition of Derivatives and Measurement of Derivatives and Hedged Items SECTION II: Fair Value Hedges SECTION III: Cash Flow Hedges SECTION IV: - Foreign Currency Hedges - Accounting by Not-for-Profit Organizations and Other Entities That Do Not Report Earnings - Disclosures - Reporting Cash Flows of Derivative Instruments That Contain Financing Elements - Reporting Changes in the Components of Comprehensive Income - Effective Date and Transition - Example of Bifurcation of Existing Hybrid Contracts Upon Implementation - Implementation Guidance SECTION V: Recent Developments APPENDICES - Appendix I: Derivative Accounting -Appendix II: Index of Accounting Literature Cited -Appendix III: Glossary
Average customer rating:
- Learn continuous-time finance from this book!
- Nielsen is simply amazing
- Excellent textbook
- The mathematical finance book to own.
- A book that can help you break the entry barrier..
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Pricing and Hedging of Derivative Securities
Lars Tyge Nielsen
Manufacturer: Oxford University Press, USA
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Similar Items:
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Stochastic Calculus for Finance II: Continuous-Time Models (Springer Finance)
-
Martingale Methods in Financial Modelling (Stochastic Modelling and Applied Probability)
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Financial Calculus : An Introduction to Derivative Pricing
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Arbitrage Theory in Continuous Time (Oxford Finance)
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Introduction to the Mathematics of Financial Derivatives
ASIN: 0198776195 |
Book Description
The theory of pricing and hedging of derivative securities is mathematically sophisticated. This book is an introduction to the use of advanced probability theory in financial economics, presenting the necessary mathematics in a precise and rigorous manner. Professor Nielsen concentrates on three main areas: the theory of continuous-time stochastic processes, a notorious barrier to the understanding of probability theory in finance; the general theory of trading, pricing, and hedging in continuous time, using the martingale approach; and a detailed look at the BlackScholes and the Gaussian one-factor models of the term structure of interest rates. His book enables the reader to read the journal literature with confidence, apply the methods to new problems, or to do original research in the field.
Customer Reviews:
Learn continuous-time finance from this book!.......2003-02-22
Learn continuous time finance from this book: you won't be disappointed. I have read almost all the most famous finance books and I must say that this is by far the best one of them. Although somewhat limited in scope, it is masterfully written: everything is explained clearly and carefully. All statements are rigorously proved. I would say it is suitable both for beginners, having a minimum exposure to measure-theoretic probability and willing to spend some time on it, and for advanced students. Personally, I first read the book as a beginner and found it extremely useful, but even now, that I understand and know most of the material, I find it to be an invaluable reference. The level of mathematical sophistication is quite high, so don't expect anything like Neftci, Baxter and Rennie, Mikosch or Bjork. The level is the same of Duffie, but, while Duffie presents a lot of material and most of the time he doesn't provide proofs and explanations (which, personally, I find irritating), this book is limited to few selected topics, but they are explained at length.
Unfortunately, the perfect finance book has not yet been written (finance professionals seem to be too busy and well paid to write good books), but this one is almost perfect. If you really want to understand quantitative finance, I strongly recommend that you invest a good amount of hours in studying this book. Two good books to acompany this one might be Resnick's book on probability and Steele's book on stochastic calculus.
Nielsen is simply amazing.......2001-09-28
Nielsen has written a virtually self-contained treatise on the subject. Reading this book was a beautiful learning experience: The author's clarity of thought was striking; the examples made particular points transparent; and the exercises made invaluable contributions to understanding.
The three appendices (on measure and probability, the Lebesque integral, and the heat equation), and the first three chapters make the book as self-contained as is possible.
Synopsis: I do not know of a better book on this subject.
Excellent textbook.......2000-11-25
This is an excellent textbook on financial mathematics. It is quite mathematical, but self contained, clearly and carefully written. The appendices are very well written condensed reviews of basic technical facts. The book also contains discussions of a topics that I've never seen anywhere else, such as "Arbitrage and Admissibility" and "The doubling strategy". As mentioned in the preface, the book is based on a doctoral-level course, and the author clearly had the benefit of a large amount of feedback from students. Reading it, one can't help notice the presence of a very large number of extra remarks and hints, inserted on every page in order to clarify what must have been a denser original text. Finally, I have to mention the excellent editorial work done by Oxford University Press in producing this book, as compared to similar books published by Wiley.
The mathematical finance book to own........2000-06-29
This book is excellent. As anyone interested in this field knows, there is a lot of high-level math. The author has included several appendices which cover the required background, and he only includes proofs that are helpful to overall understanding. All theorems without proofs have references to the standard math texts.
In comparison to other texts, it does not leave many important ideas to intuition like Neftci's book. Baxter & Rennie is better than Neftci, but not as good as Elliot & Kopp or Lamberton & Laperyre. All of the above I have studied to some extent, and Nielsen's book seemed to include all that these did AND to fill in the gaps. This is the first book I have seen to actually define 'numeraire'.
Make no mistake, to truly understand this material one has to make an investment in learning a good amount of math. The texts I recommend for real analysis are Royden (tops among all for ease and clarity) and Folland (more comprehensive, but very well written); for probability I recommend Resnick's new book which includes a good chapter on discrete-time martingales (much more readable than Chung) and the legendary text by Billingsley.
If you are willing to learn about 4 chapters of Royden and keep Resnick at your side, then this is the only book you need. If not, then start with Baxter and Rennie.
A book that can help you break the entry barrier.........2000-05-10
I read it with Rudin's"Principle of Mathematical Analysis" & Royden's "Real Analysis" by self-study.In my view,you can replace Lamberton & Lapeyre with it.It is rigorous yet accessible for non-math major who is interested in derivatives pricing but frustrated with the high-level mathematics.Buy it and read it with your patience.It won't make you disappointed.
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Accounting for Derivatives: Advanced Hedging under IFRS (The Wiley Finance Series)
Juan Ramirez
Manufacturer: Wiley
ProductGroup: Book
Binding: Hardcover
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ASIN: 0470515791 |
Book Description
Accounting for Derivatives: Advanced Hedging under IFRS is a comprehensive practical guide to hedge accounting. This book is neither written by auditors afraid of providing opinions on strategies for which accounting rules are not clear, nor by accounting professors lacking practical experience. Instead, it is based on day-to-day experience, advising corporate CFOs and treasurers on sophisticated hedging strategies. It covers the most frequent hedging strategies and addresses the most pressing challenges that corporate executives find today.
The book is case-driven with each case analysing in detail a real-life hedging strategy. A broad range of hedging strategies have been included, some of them using sophisticated derivatives.
The objective of this book is to provide a conceptual framework based on the extensive use of cases so that readers can create their own accounting interpretation of the hedging strategy being considered. Accounting for Derivatives will be essential reading for CFOs, internal auditors and treasurers of corporations, professional accountants as well as derivatives professionals working at commercial and investment banks.
Key feature include:
- The only book to cover IAS39 from the derivatives practitioner’s perspective
- Extensive real-life case studies to providing essential information for the practitioner
- Covers hedging instruments such as forwards, swaps, cross-currency swaps, and combinations of standard options as well as more complex derivatives such as knock-in forwards, KIKO forwards, range accruals and swaps in arrears.
- Includes the latest information on FX hedging and hedging of commodities
Book Description
This text provides a comprehensive introduction to financial derivatives - futures, forwards, options and swaps - and how they are used to manage treasury risk. The author encourages an intuitive understanding of the hedging process using simple numerical examples, with illustrations from the London International Financial Futures and Options Exchange (LIFFE), and self-test questions. The text assumes little prior knowledge of finance theory, and the practical non-mathematical approach makes it ideal for all students from intermediate undergraduate to postgraduate/MBA and professional, as well as practising treasurers.
Customer Reviews:
Never recommended!.......1998-02-20
Our course has bought this book for us, but I can't understant why they chose this book. It's too simple and the explanations of each topic is undetailed. It's not recommended to beginners because its illustration is not clear enough and its explanation is inadequate, it's also unsuitable for advanced because it's too simple. All my classmates agree with me.
Book Description
This digital document is an article from CMA Management, published by Thomson Gale on October 1, 2006. The length of the article is 2556 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: Hedging strategies and GAAP: a marriage made in heaven? Canada's new hedge accounting rules create new ways in which to make sense of hedging activities in financial statements. Make sure you know where it works best.
Author: Michel Blanchette
Publication:
CMA Management (Magazine/Journal)
Date: October 1, 2006
Publisher: Thomson Gale
Volume: 80
Issue: 6
Page: 27(5)
Distributed by Thomson Gale
Book Description
This digital document is a journal article from Journal of Accounting and Public Policy, published by Elsevier in 2006. The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.
Description:
This paper explains corporate hedging and speculation in a two period rational expectations model. A risk averse manager represents a firm that is priced in a risk neutral market. The manager enters into a cash flow hedge of a forecast transaction by taking a short position in the futures market. When the futures position is chosen, the manager possesses private information regarding the firm's production capacity. Mandatory disclosure of the futures position in the financial statements allows the market to draw inferences over the manager's information. These inferences affect the market's pricing decision and in turn the manager's hedging decision. The futures position taken is chosen not only to reduce price risk exposure but to signal some capacity level. In equilibrium, however, the market anticipates the manager's strategy and is not fooled. Considering varying managerial preferences, we analyze three settings. In the basic setting speculation occurs whenever the manager prefers high market values in both periods. In the second setting we add transaction costs and find that speculation is less likely. Finally, we introduce uncertainty regarding the manager's preferences. If the market needs to determine prices based on expected preferences, incentives to speculate are mitigated in equilibrium but still present.
Average customer rating:
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Firm Value and Optimal Levels of Liquidity
J. Edwar Graham
Manufacturer: Routledge
ProductGroup: Book
Binding: Hardcover
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ASIN: 0815338023 |
Book Description
Providing an exhaustive review of the impact of cash holdings on the value of a publicly traded company, this text considers the implications of stock offerings for firms with varying prospects for success and differing needs for new cash infusions. Existing financial theory describes the demand for cash (liquidity) by a typical company and the wealth-effects of the accumulation of cash or liquid resources on firm value. Prior studies establish that firm value (stock price) is first enhanced and later reduced as the firm acquires liquid resources. These findings are intuitive. A smaller or growing firm that is "strapped-for-cash" sees its prospects and value increase by an amount greater than a new inflow of cash. Ample and profitable avenues exist to invest these new funds; stock value increases. The established firm with more limited prospects observes the reverse. Investors fear the waste of new funds by an "entrenched" management and firm value increases by an amount less than the new inflow of cash;stock value declines. However, no prior study simultaneously considers, using the tools employed in this text, these countervailing forces of stockholder wealth-enhancement and wealth-reduction.
Private equity placement announcements - private issues sold primarily to venture capitalists and institutional investors - provide an opportunity to study changes in firm value, at the time of an announced change in liquidity, independent of issues that may obscure the precise source of changes in firm value in other liquidity-enhancing events. In many corporate announcements of new cash infusions, such as in "public" stock sales, a clear statistical argument cannot be made for the reactions of the stock market to the announcements. A "cleaner" statistical laboratory is developed with this new study. Detail is provided on the firms studied in this text and on the stock market's reactions to each announcement of a significant new cash inflow. Tabular and graphic depictions of the presented findings underscore therelevance of this text for the financial economist, corporate manager, investment banker and stock market investor."
Average customer rating:
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American casebook series
Yale Kamisar
Manufacturer: West Pub. Co
ProductGroup: Book
Binding: Unknown Binding
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ASIN: B0006PHX0O |
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Essays on the Early History of Plant Pathology and Mycology in Canada
Ralph H. Estey
Manufacturer: McGill-Queen's University Press
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Binding: Hardcover
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ASIN: 0773511350 |
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CCH Accounting for Derivatives and Hedging, 2006
![Hedging, hedge accounting, and speculation in a rational expectations equilibrium [An article from: Journal of Accounting and Public Policy]](http://g-ec2.images-amazon.com/images/I/217AMF0W7FL.jpg)
