Računovodstvo alternativnog investicijskog fonda "Equinox" s primjenom računovodstva zaštite

master's thesis

• Title (english): Accounting of alternative investment fund "Equinox" with the application of hedge accounting
• Author: Nikolina Abaz
• Mentor: Vesna Vašiček (mentor)
• Committee member: Hrvoje Perčević (predsjednik povjerenstva)
• Committee member: Martina Dragija (član povjerenstva)
• Granter: University of Zagreb; Faculty of Economics and Business; Zagreb
• Defense date and country: 2016-06-08, Croatia
• Scientific / art field, discipline and subdiscipline: SOCIAL SCIENCES; Economics; Accounting

Abstract

Ulaskom Republike Hrvatske u Europsku uniju 1. srpnja 2013. godine donešen je novi Zakon o investicijskim fondovima koji je u potpunosti usklađen sa direktivama Europske unije. Domaća fondovska industrija u tom trenutku regulatorno je podijeljena na dvije sfere – UCITS fondovi, odnosno otvoreni investicijski fondovi s javnom ponudom, i alternativni fondovi. Sukladno zakonskim promjenama, dogodile su se i izmjene u računovodstvenom praćenju fondova, posebice onih alternativnih.
Ovaj diplomski rad daje uvid u računovodstveno praćenje alternativnog investicijskog fonda "Equinox I", koji je ujedno i jedini koji aktivno trguje financijskim izvedenicama u Republici Hrvatskoj. Fond je osnovalo te njime upravlja ICAM, društvo s ograničenom odgovornošću za upravljanje investicijskim fondovima sa sjedištem u Zagrebu. Fond je osnovan temeljem odluke Uprave Društva od 06. srpnja 2006. godine.
U radu se detaljno razrađuje, prema instrumentima od kojih se sastoji portfelj fonda sljedeće – način i vrijeme trgovanja, tržišta na kojima se trguje, primjenjene strategije trgovanja te vrednovanje i knjiženje. Budući da su ulaganja fondova u današnje vrijeme visokorizična, pogotovo kada se radi o ulaganjima u strane vrijednosne papire i izvedenice koje sa sobom nose rizike promjene tečaja i rizike promjene cijena – kako bi fond što manje bio izložen riziku, fond menadžeri su danas sve više skloniji korištenju financijske poluge što je u računovodstvu poznatije kao računovodstvo zaštite, pa se u radu, između ostalog prezentira i svrha računovodstva zaštite prilikom zaštite imovine alternativnih fondova, kao i to na koji način financijske izvedenice od kojih se sastoji portfelj fonda, služe kao temeljni instrument računovodstva zaštite.
Također se prezentira Izvještaj o financijskom položaju i Izvještaj o sveobuhvatnoj dobiti navedenog fonda, odnosno utjecaj izvedenica na njihove pozicije.

Abstract (english)

By Croatian accession to the European Union on 1 July 2013, Croatian Parlament has adopted the new Law on Investment Funds, which is fully in line with EU directives. Domestic fund industry has split into two spheres – UCITS funds or investment funds with a public offering, and alternative funds. According to the legislative changes, there have been some changes in the accounting of funds, especially those alternative.
This thesis gives insight into the accounting of alternative investment fund „Equinox I“, which is the only actively traded financial derivatives in the Republic Croatia. The Fund was founded and is managed by ICAM, a limited liability company for investment fund management with headquarters in Zagreb. The Fund was established by a decision of the Company dated 6 July 2006.
Thus, the paper elaborates, by instruments that make up the portfolio of the fund following – the manner and time of trading, the market traded, apply trading strategies and how valued and recognized. Since the investment funds nowdays are high – risk, especially when it comes to investments in foreign securities and derivatives that carry the risk of exchange rate fluctuations and the risks of price changes – to fund what was less at risk, fund managers are increasingly inclined the use of financial leverage in accounting known as hedge accounting. So, among other things, this diploma thesis presents the purpose of hedge accounting when protecting the assets of alternative funds, as well as to how the financial derivatives that make up the portfolio of the fund, serve as a fundamental instrument for accounting protection.
It also represents the statement of financial position and statement of comprehensive income above fund, or the impact of derivatives on their positions.

• Keywords: investicijski fond; alternativni investicijski fond; zakon o investicijskim fondovima; računovodstvo zaštite; portfelj fonda
• Keywords (english): investment fund; an alternative investment fund; the law on investment funds; hedge accounting; portfolio fund
• Language: croatian
• URN:NBN: urn:nbn:hr:148:713800
• Study programme: Title: Business Economics; Study programme type: university; Study level: graduate; Academic / professional title: magistar/magistra ekonomije (magistar/magistra ekonomije)
• Type of resource: Text
• File origin: Born digital
• Access conditions: Access restricted to students and staff of home institution
• Created on: 2016-09-29 11:44:35