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Fund Accounting

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(Querist)
03 March 2008 Hi
i would like to know about fund accounting with regard to investment banking firms.....
how it is and where can i get additional information on that
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
06 March 2008 The concept of fund accounting relates more to valuation of asset value of a mutual fund corpus. It includes regular accounting of transactions for arriving at its balance sheet, which are valued to arrive at net asset value (NAV).

As an investor can invest or exit on any day at that day's prevailing NAV, it is critical to work out the net realisable asset value of each day on a much fairer basis. Any under/over provisioning may result in irregularity in the NAV at which investors enter or exit.

This is what makes the concept of fund accounting critical.
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