Hedge Accounting Insight, Fincad’s web-based hedge accounting solution, now offers increased coverage and enhanced cash flow and liquidity management, additions made in recognition of client and market needs, according to the company. With this new functionality, Hedge Accounting Insight users can better manage their overall cash position as well as hedge a broader range of instruments.
Coverage is now available across multiple asset classes including commodities, interest rates, and foreign exchange (FX) instruments. The ability to now value and apply hedge accounting across a wide range of instruments gives treasuries greater visibility, which is increasingly important as 75% of corporate treasuries comply with hedge accounting regulations. More specifically, Hedge Accounting Insight now supports commodity swaps as hedging instruments, and gives the option to either have a system generated hypothetical derivative or one that is user specified. This is especially useful for organisations that are using or selling commodities and looking for flexibility in setting up their hedge relationships.
“Fincad has been very responsive in anticipating and responding to our needs,” said John Beattie, vice president and treasurer, Spectrum Brands. “The ability to use commodity swaps as hedging instruments is an important benefit to Spectrum Brands, and we now anticipate being able to more easily analyze and report on our zinc cash flow hedges. Zinc is used in the making of batteries and as such is a key component of our manufacturing process. Commodity prices such as zinc can be very volatile, which is why the inclusion of commodity hedging instruments in Hedge Accounting Insight will greatly facilitate our cash flow hedging.”
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