While there are a number of outstanding texts on valuation of interest rate derivatives, there are hardly any that provide a comprehensive treatment of the relevant accounting principles. Venkata Subramani’s well-structured book does a great job in filling this void. For each instrument, the author first provides a clear description of the product and its associated cash flows. He then proceeds to discuss the finer aspects of accounting using detailed examples which will
definitely enrich the reader’s knowledge of the subject. This book, written by a leading subject expert, is definitely unique in its treatment and content.
Prof. R. L. Shankar
Head, Center for Advanced Financial Studies, Institute of Financial Management and Resource (IFMR)
Program Director, MBA-Financial Engineering
This second volume by R. Venkata Subramani is a valuable contribution to the accounting and finance literature providing comprehensive coverage of accounting for fixed income securities and interest rate derivatives. Subramani provides a systematic and step-by-step description of, and accounting for, all the possible events and transactions in the life of the security or derivative concerned. This excellent feature makes it effective for the reader to attain an in-depth understanding of the topics covered. I am sure that this book will be greatly appreciated by users of financial statements, academics and business students.
Associate Professor of Finance and Control
Indian Institute of Management
The recent global financial crisis has resulted in a thorough review and overhaul of accounting standards in order to improve financial reporting and enhance investor confidence. Although accounting for fixed income and derivative financial instruments is complex this book provides the reader with a clear and concise explanation of this intricate subject. The informative product descriptions and detailed explanations of the accounting events at each stage of the trade life cycle will be of great benefit to those who want to gain a better understanding of this intricate topic.
Chief Executive Officer
With this second volume Venkata Subramani has structured a very comprehensive book focused on accounting for fixed income securities and interest rate derivatives. This author puts in perspective a very detailed and exhaustive presentation of the nuances of the different flavors of financial instruments and a detailed description of the related accounting events and associated entries. It becomes very effective because every example details how the life cycle of financial instruments interacts with the accounting output making this book a helpful bridge between the financial products and their accounting translation.
From the Inside Flap
Accounting for Investments Volume 2: Fixed Income Securities and Interest Rate Derivatives – A Practitioner’s Guide is one of the most comprehensive reference works on accounting for financial products. This companion volume to Accounting for Investments Volume 1: Equities, Futures and Options starts from fixed income securities and interest rates. Accounting for Investments Volume 2 starts from the basics for the financial products covered, defining the product, the way it is structured, its advantages and disadvantages, the different events in the trade life cycle and then elaborates on the accounting entries that are necessary for the same. The book also explains how the entries get reflected in the general ledger accounts, giving a macro-level picture for the reader to understand the basics of the effect of such accounting. This volume is the presentation of the results in the final accounts—the income statement and balance sheet and disclosure requirements are also covered.
Accounting for Investments Volume 2 will prove useful to an expert as well as a novice, not to mention the ever-increasing number of technology consultants who require for such a book.
While generally accepted US accounting principles and the International Financial Reporting Standards (IFRS) are given adequate treatment, the readers are advised to refer to the appropriate GAAP requirements for their own country. The accounting standards that are dealt with here in the book can, however, be used as a benchmark to understand the specific requirements of other countries.
Hardcover: 576 pages
Publisher: Wiley; 1 edition (July 20, 2011)
Product Dimensions: 10.1 x 7.2 x 2 inches
Shipping Weight: 3.4 pounds (View shipping rates and policies)