SOURCE: Cain Brothers

Cain Brothers

April 19, 2010 11:37 ET

Cain Brothers Announces GASB 53 Online Calculation Services

NEW YORK, NY--(Marketwire - April 19, 2010) -  Cain Brothers announces its GASB 53 Accounting and Financial Reporting for Derivative Instruments online calculation services. Cain Brothers' industry leading online derivative valuation system was developed over 12 years ago with GASB 53 calculation capabilities since inception.

GASB's new statement No. 53 is effective for financial statements for periods beginning after June 15, 2009. Beginning this year, all governmental entities are now required to determine if their derivatives are hedging derivative instruments or investment derivative instruments through a series of qualitative or quantitative analyses. GASB 53 also requires additional disclosure information in the notes to the financial statements, which Cain Brothers offers assistance in drafting. Other entities that follow FASB guidelines implemented similar "hedge accounting" practices in 2000. Cain Brothers worked directly with the FASB to construct calculation methodologies, now similarly implemented under GASB 53, which allow existing derivatives to qualify for favorable accounting treatment.

Cain Brothers' GASB 53 calculation services can easily be provided on a stand alone basis or integrated with an online daily valuation and derivative payment verification system that has an advanced sensitivity component and access to historical data and reports.

About Cain Brothers
Cain Brothers is an employee-owned investment banking and strategic advisory firm formed in 1982 with an extensive interest rate derivative structuring practice. Operating out of nine offices throughout the country, Cain Brothers' experience in trading and pricing derivative transactions gives the firm the in-depth knowledge needed to properly monitor, value and determine hedge effectiveness through an online integrated financial risk management system.

Contact Information

  • For more information contact Cain Brothers at 317-870-7506