Fund Accounting

Fund accounting is an essential activity in the fund industry, since it is the process through which the net asset value (NAV) of a fund is calculated. But fund accounting can be very complex, depending on the type of fund and how it approaches fund accounting. This course describes the fundamental concepts and methods of fund accounting and provides participants with the knowledge and skills that are needed to become a fund accountant. The course is very practical and includes numerous exercises.

Course content

  • Fund accounting vs. corporate accounting
  • Basic principles of fund accounting
  • How to calculate a NAV
  • Assets and liabilities in a fund; expenses and revenues
  • Accounting for capital transactions: Subscriptions, redemptions
  • Accounting for portfolio transactions: Debt instruments, equities, derivatives
  • Accounting for cash deposits
  • Accounting for expenses and revenues: Interest, realised/unrealised gains and losses, fees, other expenses and revenues
  • Depreciation and amortisation
  • Valuation of a fund portfolio
  • Impact of corporate actions on the NAV
  • Impact of accounting standards on fund accounting (e.g., GAAP, IAS and IFRS)
  • Risk issues relating to fund accounting

Target Audience

People working or planning to work in the fund industry who want to understand fund accounting.

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