Accounting for Investment Companies (CPE Course)

CPE Credit: 2 hours

Course Type: Downloaded PDF materials with online test

Price (with PDF Textbook): $25

Course Description
The accounting for investment companies contains a number of unique transactions and reports. In the Accounting for Investment Companies course, we cover the treatment of different capital structures, including multiple classes of shares, master-feeder funds, and funds of funds. The course also covers the net asset value calculation, how to account for the investment portfolio, and how to structure a complete set of financial statements for an investment company.

Author: Steven Bragg

Course Number: AC1157

Learning Objectives

  • Identify an investment company’s service providers.

  • Specify the characteristics of complex capital structures in an investment company.

  • Describe the timing for when investment transactions are recognized.

  • Identify the accounting records that the 1940 Act requires an investment company to keep.

  • Specify how net asset value is determined.

  • Identify the different types of valuation options that may be applied to investments.

  • Recall how a clawback arrangement functions within an investment company.

  • Recall the steps required to complete a short selling transaction.

  • Identify the contents of an investment company’s financial statements.

Level: Overview

Instructional Method: QAS Self-Study

NASBA Category: Accounting

Prerequisites: None

Advance Preparation: None

Latest Review Date: October 2023

Program Registration Requirements: Click on "Purchase Course" near the top of this page to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.

Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

CPE-Sponsor-Logo.jpg

AccountingTools, Inc. 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 the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.