Accounting for Investment Companies

2 Credits: Accounting


Webcasts are available for viewing Monday – Saturday, 8am – 8pm ET.
Without FlexCast, you must start with enough time to finish. (1 Hr/Credit)

 Secure Transaction

Accounting for Investment Companies

Course Level
CPE Credits

2 Credits: Accounting

Course Description

This course offers a detailed exploration of the unique accounting requirements for investment companies. It features thorough guidance on handling complex capital structures, including different classes of shares and the intricacies of master-feeder funds and funds of funds. Participants benefit from learning the critical aspects of calculating net asset value, accounting for investment portfolios, and the essential steps to prepare comprehensive financial statements for an investment company. Additionally, the course covers the nuances of investment transaction recognition and the requirements for keeping records under the 1940 Act. By mastering these elements, attendees will be able to confidently manage and report on investment company accounts, enhancing their professional skill set and value to their organizations.

Show More
Show Less

Learning Objectives

Upon successful completion of this course, participants will be able to:

  • 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.
Show More
Show Less

Course Specifics

Course ID
Revision Date
November 20, 2023

There are no prerequisites.

Advanced Preparation


Number of Pages

Compliance Information

NASBA Provider Number: 103220

CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

Meet The Experts

Steven M. Bragg, CPA, is a full-time book and course author who has written more than 300 business books and courses. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast. Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and …