num_pages: 0
description: This 2014 edition is updated with latest auditing and regulatory guidance and authoritative advice for investment companies.Key Benefits: Fully updated for the new definition of an investment company within the scope of FASB ASC 946. Expanded application guidance and illustrative disclosures related to balance sheet offsetting under FASB ASU No. 2011-11 and ASU No. 2013-01. New appendix that identifies the PCAOB standards that correspond with the Clarified Auditing Standards. Newly added overview of centrally cleared swaps. Background on the investment company industry and interpretive guidance for new and existing rules. Best practice discussion on complex issues including: investment valuation financial instruments capital accounts BDCs master-feeder funds multi-class funds UITs and many more. Illustrative reports for examinations of securities and controls at a custodian pursuant to Rule 206(4)-2 of the Investment Advisers Act of 1940.Updates: FASB ASU No. 2011-11: Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities FASB ASU No. 2013-01: Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities FASB ASU No. 2013-07: Presentation of Financial Services (Topic 205): Liquidation Basis of Accounting FASB ASU No. 2013-07: Financial ServicesInvestment Companies (Topic 946): Amendments to the Scope Measurement and Disclosure Requirements FASB ASU No. 2013-11: Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward a Similar Tax Loss or a Tax Credit Carryforward Exists (a consensus of the FASB Emerging Issues Task Force)
language: English
title: Investment Companies - Audit and Accounting Guide
publisher: AICPA