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Achieving hedge accounting has proven to be difficult in almost all industries because of the complexities in the accounting rules and infrastructure necessary to document, test, and track all the hedging relationships. In the energy and power industries, hedge accounting is especially hard in the best of times, but with the recent extreme volatility in the energy markets - coupled with the uncertainty surrounding the capital markets - it has become even more difficult to apply.

This one and a half day seminar addressing these critical issues is tailored to controllers, accounting and audit managers, credit/risk/portfolio analysts and front/mid/back office accounting personnel in the energy and power industries. This seminar provides attendees with an opportunity to learn about the application of FASB Accounting Standards Codification (ASC) Topic 815, Derivatives and Hedging (formerly FAS 133), and related amendments and disclosures. Also, this course will cover the implications of the movement towards IFRS on derivative accounting processes.

In addition, this course covers FASB Accounting Standards Codification (ASC) Topic 820, Fair Value Measurements and Disclosures (formerly FAS 157). In this portion of the course, strategies for determining fair values for hard-to-value energy and power instruments as well as other types of securities will be examined.

Who Should Attend

• Accountants
  
• Auditors
  
• Controllers
  
• Treasurers
  
• Financial analysts
  
• Asset and liability managers
  
• Credit derivatives
  
• Risk
  
• Structured credit
  
• Credit risk
  
• Portfolio managers
  
• Traders
  
• Front office
  
• Middle office
  
• Back office

REPRESENTATIVE INDUSTRIES

• Integrated electric utilities
  
• Market operators and transmission companies
  
• Public power
  
• Generation companies
  
• Retail power marketers
  
• Wholesale power trading and marketing companies
  
• Gas utilities and distribution companies
  
• Retail gas marketers
  
• Wholesale gas trading and marketing companies

This course is open to utilities, power and energy industry operating companies (see above), software vendors, consumer groups, and regulators only; any questions as to this determination shall reside with EUCI.

Learning Outcomes

Attendees will receive instruction and cover materials that will allow them to:

• Summarize recent FASB rule changes connected with mark-to-market valuation and ASC 820 (FAS 157), as connected with derivative accounting and reporting
  
• Apply their understanding of ASC 815 (FAS 133) requirements and its application to the energy industry
  
• Review the latest disclosure requirements for derivatives and hedging activities
  
• Discuss and evaluate application of fair value measurements
  
• Assess the implications of IFRS on derivative accounting processes

Requirements for Successful Completion of Program

Participants must sign in/out each day and be in attendance for the entirety of the course to be eligible for continuing education credit.

Instructional Methods

A variety of presentation styles will be used, including case studies, power point presentations, and class exercises.

Continuing Education Credits:

EUCI is authorized by IACET to offer up to 0.9 CEUs for this program.

Upon successful completion of this event, program participants interested in receiving CPE credits will receive a certificate of completion.

Conference CPE Credits: 11.5
There is no prerequisite for this conference.
Program Level: Intermediate/Advanced
Delivery Methood: Group-Live
Advanced Preperation: None

EUCI is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.

Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasba.org