This session offers an in-depth walkthrough of the essential components that make up the financial statements of a typical investment fund or pooled investment vehicle. The session breaks down each section of a comprehensive financial report, including the Directors’ Statement, Auditor’s Report, Balance Sheet, Profit & Loss (P&L), and Cash Flow Statement. We’ll explore the Schedule of Investments in detail, including its hierarchical reporting requirements—from investment type to issuer—and the significance of issuer-level disclosures exceeding 5% concentration. You’ll also learn how capital activity and changes in net assets are reported and how to decode the notes that support the financials.
Through practical insights and structured examples, attendees will gain clarity on what each statement reveals, how the elements interconnect, and common red flags to watch for during preparation or review.

Learning Objectives
•    Identify the key components of an investment fund’s financial statements
•    Analyze investment schedules for disclosure hierarchy
•    Reconcile NAV movement with capital activity
•    Interpret key changes in net assets and their implications
•    Assess capital transactions and allocations
•    Evaluate disclosures and notes for completeness and clarity
•    Evaluate audited hedge fund financials for accuracy and completeness

Topics
•    Components of hedge fund audited financials
•    Disclosure requirements in Schedule of Investments
•    Analyzing P&L and NAV movement
•    Capital activity and partner transactions
•    Red flags in footnotes and supplemental disclosures

To complete this course participants need to: Watch the Video provided and successfully complete the qualified assessment with a minimum of 70% accuracy to receive your certificate.

Upon course completion a course evaluation form is provided for your feedback.

Participants have 1 year from the date of purchase/enrollment to complete this course

CPE Prime is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors.  State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.  Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org

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