Accounting for Private Equity / Hedge Funds
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Accounting for Private Equity / Hedge Funds

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courseType Technical Skills, Financial Sector

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Phone +352 49 48 48 4040
Mail pwcacademy@lu.pwc.com

PwC's Academy
2 rue Gerhard Mercator
L-2182 Luxembourg
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General course details

Introduction

A significant number of non-regulated Private Equity / Hedge Funds structures have been incorporated in Luxembourg during the last couple of years, and the trend remains positive.
At the same time, the complexity of their operations has increased, generating new situations with significant technical difficulties for the accountants and financial professionals.
  
This dedicated accounting module is designed to provide Luxembourg accounting professionals with a comprehensive overview of the most critical accounting issues under Luxembourg GAAP identified in the Private Equity and Hedge Funds industry.
 
Theory, real life examples and practical exercises are combined during the training.

Objectives

At the end of the course, participants will be able to:
  • Understand the accounting law applicable to unregulated Private Equity / Hedge Funds structures.
  • Identify and address the key risk areas when accounting for those operations
  • Have a better understanding of main specific instruments used in the Private Equity / Hedge Funds industry and of related accounting treatments under Luxembourg GAAP
  • Make the link with existing tax structures from an accounting point of view
  • Properly disclose the transactions in the annual accounts
  • Apply in practice the examples analyzed during the training

Content

  • Introduction
  • Luxembourg GAAP framework and compliance requirements
  • Luxembourg accounting law (including the last changes in the accounting law) 
  • Preparation of annual accounts
  • Consolidation requirements
  • Luxembourg Standard Chart of Accounts
  • Electronic filing
  • Balance sheet – assets
  • Acquisition cost
  • Equity and debt investments (cost, valuation, impairment, currency)
  • Balance sheet – equity
  • Multiple classes of shares, Redeemable Preferred Shares
  • Capital contribution without issuance of shares
  • Interim dividend
  • Balance sheet – liabilities
  • Hybrid financial instruments (e.g. PEC, CPEC, PPL, …).
  • Guarantees, commitments, bank covenants (risks and disclosure)
  • Contribution in kind, merger liquidation, etc.
  • Conclusion

Target audience

  • Accountants of Private Equity / Hedge Funds structures established in Luxembourg
  • Accountants involved in Private Equity / Hedge Funds
  • Chartered accountants and employees of trust companies
  • Financial controllers and analysts
  • Internal and external auditors
  • Compliance officers
  • Tax experts

Prerequisite

Participants should have basic Luxembourg GAAP knowledge.

Our lead expert

This training is coordinated by Anne-Sophie Preud’homme, Accounting technical group Leader in PwC Luxembourg as well as by Luc Trivaudey, Accounting & tax expert in Private Equity in PwC Luxembourg. The training will be presented by directors and managers who are specialised in this topic.
 

 

 



Anne-Sophie leads the ITS-Opco Group assisting multinational and operation companies in tax and accounting compliance matters. She is also head of the Luxembourg Accounting Technical Group She is the Chief Operation Officer of PwC Luxembourg and is a member of the Country Leadership Team.
Anne-Sophie has been with Coopers & Lybrand from 1992 to 1998 and since then with PwC Luxembourg. She has 15 years of experience as auditor of real estate and international groups, operating in the regulated and non-regulated sectors.
She is now working in our Tax Department as an accounting expert assisting multinationals in accounting and reporting areas. She is also supervising the preparation of financial statements and various reporting and the conversion from foreign GAAP to Luxembourg.

Practical information

Language: English.
This training is also available in French.

Number of participants: Limited to 20 participants to ensure good interactivity

Duration: 1 day



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