Investment Management Industry Fundamentals

Investment companies have specialized accounting and financial reporting requirements that differ from those of typical operating companies. Our investment company accounting CPE courses provide a practical introduction to ASC 946 Financial Services - Investment Companies and the related U.S. GAAP topics that affect investment management entities.

This collection includes nine self-study courses eligible for 10.4 CPE credits. The courses cover investment company operations, accounting for investments, fair value measurements, transactions with service providers and unit holders, and the unique financial reporting considerations that apply to investment companies. The collection is designed to give both preparers and auditors a broad understanding of how ASC 946 interacts with other relevant accounting guidance.

Topics covered include:

• Investment company operations and the scope of ASC 946
• Accounting for investments held by investment companies
• Fair value measurement considerations
• Transactions with service providers
• Transactions with unit holders
• Investment company financial statements and reporting requirements

Further details

The collection starts with the question that drives the specialized accounting model: what makes an entity an investment company under ASC 946? Learners examine the characteristics and operations of investment companies, how investment funds are structured, and why ASC 946 produces financial statements that look different from those of traditional operating companies.

The training then follows the economics of an investment company. Courses address investments in equity and debt securities, alternative investments, derivative instruments, and investments in other investment companies. Because those positions are frequently measured at fair value, several courses focus on ASC 820, including valuation approaches, the fair value hierarchy, active and inactive markets, the net asset value (NAV) practical expedient, liability measurements, and restrictions on the sale of assets.

The collection also looks at the relationships that are central to the investment management business. Learners explore transactions with service providers, including management, performance, and distribution fees, as well as transactions with unit holders such as purchases, sales, distributions, and redemptions. The final course brings those pieces together through the specialized presentation and disclosure requirements of ASC 946, including considerations for different capital structures.

Who will benefit

This collection is designed for fund accountants, controllers, financial reporting professionals, and auditors who work with investment companies, private funds, registered funds, or other entities applying ASC 946. It is also a strong starting point for professionals entering the investment management industry who need to understand how fund operations, investments, fair value, service-provider arrangements, unit-holder activity, and financial reporting fit together.

Value proposition

Purchase all 9 courses for $599 instead of $1,188 if purchased separately—a savings of $589.

Interested in group discounts? Contact us today to learn more.