Brokers and Dealers in Securities - Accounting Guide
It is critical to understand the complexities of the specialized accounting and regulatory requirements needed for the broker-dealer industry. This comprehensive guide has been designed to be beneficial for a wide range of professionals within the broker-dealer industry.
Everything you need to understand the broker-dealer industry
Loaded with accounting guidance and regulatory developments, this guide delivers the support you need to meet myriad broker-dealer requirements.
More specifically, it provides:
- Background information on the securities industry
- An introduction to the functions, books, and records of broker-dealers
- An overview of COSO’s internal control framework and examples of typical broker-dealer internal controls
- Accounting, reporting, and disclosure guidance, including illustrative financial statements and disclosures
- Coverage of applicable regulations and updates from regulatory bodies such as the SEC, FINRA, and CFTC
- Illustrative sample compliance report and sample exemption reports required by SEC Rule 17a-5
Hot accounting topics
In addition, this guide offers
- A high-level discussion of FASB ASC 326, Financial Instruments — Credit Losses, and an example disclosure note for credit losses in the guide's illustrative financial statements and footnote disclosures
- Revenue recognition implementation issues for brokers and dealers in securities applying FASB ASC 606 and related interpretations from the FASB/IASB Joint Transition Resource Group for Revenue Recognition (TRG)
New for 2022
The 2022 edition includes updates to incorporate discussion of several topics, including the following:
- Fractional shares
- Digital assets
- FICC’s Sponsored Service
- Service arrangements with a parent or an affiliate
- Recent SEC releases
Other updates to this edition are to conform the content to current accounting standards and regulatory requirements.
- Accounting and finance professionals
- Business professionals within the broker-dealer industry
- Background on the securities industry and the functions performed by broker-dealers
- Interpretive guidance associated with industry-specific financial reporting and regulatory compliance
- Regulatory updates from key industry regulators (SEC, CFTC, and FINRA)
- Broker-dealer risks and controls
- Sample compliance report and exemption reports required by SEC Rule 17a-5
- Comprehensive examples of financial statements, disclosures, and supplementary schedules
Group ordering for your team
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