InstructorTerri Hays
TypeOnline Course
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Tuition Options


PracticeEdge Elite™ Not included

Standard Tuition $400 US

Senior Fellow Christopher Mears, CPA, Principal, KPMG

Hedge funds are pooled investment vehicles for high net worth individuals (accredited investors), pension plans, foundations, other investment funds, etc. Hedge funds invest in a diverse range of markets, investment instruments, and strategies. They are privately owned and operated but subject to the regulatory restrictions of their respective countries. The term “hedge fund” refers more to the structure of the investment vehicle, rather than the investing technique. Fund accounting is carried out by the controller and the accounting team of the fund. Fund accounting is also performed by third party service providers such as fund administrators.

This Course is designed to discuss the key aspects of fund accounting from the controller’s perspective while also taking into account the role of the administrator and the reporting requirements under United States Generally Accepted Accounting Principles. References to the “fund accountant” throughout this course can relate to either the controller or the administrator.

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Students shall learn the following within this Course:

  • Basic Fund Structures
  • Balance Sheet
  • Cash and Broker Reconciliations
  • Pricing of Portfolio
  • Statement of Operations
  • Statement of Net Assets/ Partners’ Capital
  • Allocations
  • Subscriptions
  • Redemptions
  • Share Accounting for Offshore Funds
  • Financial Statement Process at Year End and Information needed
  • Derivatives Disclosures
  • Additional Fund Structures
  • Month End valuation
  • Documentation of Fund Due Diligence
  • Additional Financial Statement Considerations
  • Private Equity and Venture Capital
  • Registered Funds
  • Cayman Island Monetary Authority (CIMA)
  • British Virgin Islands Financial Services Commission (FSC)

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Senior Fellow:

  • Christopher Mears, CPA, Principal, KPMG

Guest Lecturers:

  • Frank Atalla, CPA, KPMG
  • Andrea Lillard, CPA, KPMG

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Accreditation Information

CLE Information

Credit Hours: 4
Subject Area: Professional Practice
States: Contact Curriculum Advisor For More Information

CPE Information

Credit Hours: 8
Subject Area: Accounting
States: Contact Curriculum Advisor For More Information


Course ID Number:  7370


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Alabama: Approval of all web based programs is limited to a maximum of 6.0 credits.

Arizona: Does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. RCA programs may qualify for credit based on the requirements outlined in the MCLE Regulations and Ariz. R. Sup. Ct. Rule 45.

Iowa: The approval is for one year from recorded date. Does not approve of Audio-only On-Demand Webcasts.

Missouri: On-demand web programs are restricted to six hours of self-study credit per year. Self-study may not be used to satisfy the ethics requirements. Self-study can not be used for carryover credit.

New Hamphsire: The approval is for three years from recorded date.

New Mexico: On-Demand web programs are restricted to 4.0 self-study credits per year.

New York: Newly admitted attorneys may not take non-traditional course formats such as on-demand Web Programs or live Webcasts for CLE credit. Newly admitted attorneys not practicing law in the United States, however, may earn 12 transitional credits in non-traditional formats.

North Carolina: A maximum of 4 credits per reporting period may be earned by participating in on-demand web programs.

Ohio: To confirm that the web program has been approved, please refer to the list of Ohio’s Approved Self Study Activities at Online programs are considered self-study. Ohio attorneys have a 6 credit self-study limit per compliance period. The Ohio CLE Board states that attorneys must have a 100% success rate in clicking on timestamps to receive ANY CLE credit for an online program.

Oklahoma: Up to 6 credits may be earned each year through computer-based or technology-based legal education programs.

Pennsylvania: PA attorneys may only receive a maximum of four (4) hours of distance learning credit per compliance period. All distance learning programs must be a minimum of 1 full hour.

Rhode Island: Audio Only On-Demand Web Programs are not approved for credit. On-Demand Web Programs must have an audio and video component.

Tennessee: The approval is for the calendar year in which the live program was presented.

Virginia: All distance learning courses are to be done in an educational setting, free from distractions.

Wisconsin: Ethics credit is not allowed. The ethics portion of the program will be approved for general credit. There is a 10 credit limit for on-demand web programs during every 2-year reporting period. Does not approve of Audio-only On-Demand Webcasts.

Iowa, Mississippi, Oklahoma, and Wisconsin DO NOT approve Audio Only On-Demand Web Programs.

If you have already received credit for attending some or the entire program, please be aware that state administrators do not permit you to accrue additional credit for repeat viewing even if an additional credit certificate is subsequently issued.

If applicable, the RCA will apply for credit in your state upon request.