Introduction to fund accounting (C2013)

Successful completion of the module "General Accounting: current operations" (C2001E), "General accounting: year-end operations" (C2003E) and "Les valeurs mobilières: comprendre et investir" (C6014) or proof of equivalent certified knowledge.

• Review the most common legal forms of company set up for the various investment funds.
• Find out the basic differences between the general accounting for commercial companies and the Fund Accounting.
• Consider the actors/agents of the investment funds, the components of the funds, their accounting, their valuation, etc.
• Understand the specificities of the umbrella funds and the multiple classes of shares/units.
• Gain understanding on the operations on portfolio and their accounting.
• Gain understanding on the operations on Fund capital and their accounting.
• Consider the estimation and provision of the investment fund fees and charges (type, agreements, calculation method, etc.).
• Perform calculation of the Net Asset Value of investment funds.

• Review the most common legal forms of company set up for the various investment funds
  • Review legal documents of the investment funds (prospectus, fact sheets, KIID).
• Find out the basic differences between the general accounting for commercial companies and the Fund Accounting
  • Example of Net Asset Value calculation - methods of calculation.
• Consider the actors/agents of the investment funds, the components of the funds, their accounting, their valuation, etc
  • Example and exercises.
• What is an umbrella fund? Multiple classes of shares principles and objectives
  • Case studies.
• Operations on portfolio: purchase & sale.
  • Valuation of the assets in portfolio, impact on the P&L accounts.
  • Case studies.
• Operations on capital: subscription, redemption and switch.
  • Case studies.
• Fees & charges: estimation, provision, accounting.
  • Case studies - NAV calculation.
• Review of an annual report of investment funds (umbrella UCITS, UCI, SIF).
• Case studies.
• Wrap up of the previous sessions and case studies.