Fund Accounting
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Course Outline
- Analysis of typical job posting for fund accountant
· Fund and fund accounting-definition
· Main responsibilities of fund accountant
· Qualifications of successful candidates
· How this course fit to the job requirement
· How this course relevant to other Victoria courses
- Overview of the hedge fund industry
- Introduction of Hedge Funds
- The History of Hedge Funds
- The Structure of the Hedge Funds
- Difference between mutual funds and hedge funds
- Hedge fund operations
- The investment management front office
- The investment management back office
- Transfer agent functions-shareholder recording
- Fund valuation
- NAV and its core role in fund accounting
- Calculation of NAV
- Valuing the assets of the funds
- Financial statements of funds
- GAAP for funds
- Incentive fees
- Measuring fund performance
- Measuring return
- Measuring risk
- Comparing fund performance with a benchmark
- Various standardized performance systems
- Fund management and management fees
- Calculation of management fees
- Calculation of non-trading expenses
- Internal governance within hedge fund complexes
- Working capital calculation
- Equity fund management
- Equity portfolio
- Types of risks and returns that different asset classes offer
- The value of equity shares
- Valuation
- Financial reports for funds
- Annual reports, and investment profile
- Statement of assets and liabilities
- Statement of operations
- Statement of changes in net assets
- Financial highlights
- Notes to financial statements
- Regulation of hedge fund industry
- Legal environment
- Standards
- Rights of investors
- Transparency and disclosure
- Accountability of fund accountant
- FAQ during the typical interviews of fund accountant jobs
- Basic concepts you need to know
- How to answer the questions
- Ready for job market-Fund Accountant
Why Fund Accounting?
Under worldwide economy depression, many people get confused where the jobs are. Even traditionally there have being a very big job market for accounting professionals, new accounting graduates and some entry level professionals are still facing big challenging right now. It is simply because that too many candidates are looking for too general jobs –Accounting Clerk, Bookkeeper, Billing Clerk, Accountants Payable, Accounts Receivable, Payroll Clerk, and more. One of the effective ways to increase the chance of interview is to specify candidate’s career goal. As a brand new career, Fund Accounting is an excellent example to specify candidate’s career goal.
What’s fund accounting? The fundservices.net Glossary defines it as “the maintenance of proper accounting records of a fund, in accordance with local laws, regulations and accounting standards.
Candidates or accounting students will have an edge over other job hunters if they have finished this course. In other words, whoever enrolled this course will have huge chance to land a dream job-Fund Accountant. Starting at analysis to real job post of Fund Accountant, this course is tailored to introduce all basic requirements and fundamental skills of the specific job. Currently no any Canadian university or college provides this course. Victoria College is the number one among the peers to offer this exciting course.
Comparing with other accounting jobs, Fund Accountant makes a big difference.
First of all, it has big market and huge demands. Almost all financial institutions, insurance companies, mutual funds, hedge funds, and fund service providers need Fund Accountants to keep business running.
Secondly, it pays relatively higher than others. Usually a fund accountant’s pay level is
$ 40, 000 per annum, which is much high than other entry level accounting job. It also provides big potential to advance, and promote for accounting professional. Besides, once candidates landed the job, they are directly granted professional title, i.e., Accountant, instead of accounting clerk, or accountant assistant.
Thirdly, because the software used in the fund accounting is much more complicated than some mainstream software, such as Simply Accounting, QuickBooks, AccPac. Once people are familiar with the software for fund accounting, chances are that they can easily switch to other accounting jobs, such as corporate accounting.
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