Course Overview
Course introduction and a guide to the content.
Working level and above
Mastering Hedge Fund Accounting
The parts of hedge fund accounting that trip people up: shorts and financing, derivatives, performance fees, equalisation and series accounting.
Enrol on the academyTake the free assessment
Secure checkout and paid lessons open in The Fund Accountant Academy.
Please review the Terms of Use and Refund Policy before enrolling.
Already enrolled? Open My Courses
Your lessons are in The Fund Accountant Academy. Sign in with the same method you used when enrolling.
Who this is for
People already comfortable with the basic NAV cycle who now work on hedge funds, or who want to move into them.
Format
Video lessons with worked calculations and case walkthroughs.
Pace
Self-paced lessons built around worked hedge fund cases. Exact lesson count is listed on the academy.
Self-paced lessons
365-day access
Completion certificate
Discussion-forum support
Outcomes
What you should be able to do
The point is not to remember a glossary. It is to make and explain the right accounting decision.
- 01Account for short positions
- 02Handle common derivatives: futures, forwards, swaps and their valuation inputs
- 03Work through incentive and performance fee mechanics, including crystallisation
- 04Understand equalisation and series accounting and when each is used
- 05Apply hurdles and high-water marks to an investor's holding
Course curriculum
Explore the learning sequence
Every module earns its place in the workflow; topics build toward a complete decision, not a collection of definitions.
Hedge Fund Introduction
Strategies, structures, fee arrangements and key terminology.
Fund Accounting Overview
Accounting workflow and the roles of the teams involved.
Capital Activities
Opening capital, subscriptions and redemptions.
Non-Trade Items
Accrual versus cash accounting and expense payments.
Trading Activity
Trade components and their cash and accounting effects.
Cash Reconciliation
Cash breaks, settled balances, FX and month-end reconciliation.
Position Reconciliation
Holdings checks and investigating position differences.
Corporate Action
Dividends, reorganisations, splits, rights and derivative events.
Income Reconciliation
Dividends, tax, accrued interest and income-break resolution.
Pricing
Pricing sources, stale and missing prices, and month-end checks.
Month-End P&L
P&L classifications, validation and a worked example.
Gross Asset Value (GAV)
Balance-sheet items, GAV tie-out and statement review.
GAV-to-NAV Process
Asset-based, administration, management and incentive fees.
Investor Allocation
Investor-allocation terminology and a worked example.
Taught by Bonhi Mukhopadhyaya
Lead Instructor – Fund Accounting
Bonhi brings 14+ years of fund-accounting experience to practical, scenario-led instruction. Her teaching emphasises the reasoning behind NAVs, reconciliations and review decisions—not simply memorising definitions.
View instructor profileQuestions
Before you decide
This specialist route is for learners who already understand basic fund accounting and the core NAV cycle and now want hedge-fund-specific mechanics, such as shorts, financing, derivatives, performance fees and equalisation.
This course assumes prior understanding of the basic NAV cycle and the core fund-accounting workflow. It is designed as a specialist route rather than a first foundation course for a complete beginner.
Currently available courses are pre-recorded and self-paced. You work through them on your own schedule.
Currently available courses include 365 days of access from the date of enrolment.
Yes. The courses use guided calculations, worked examples and realistic hypothetical fund scenarios to show how accounting decisions are made. They do not reproduce confidential client records or live-fund data.
Yes. Learners can use the course discussion forum to ask questions and review examples. The forum is reviewed periodically, but it is not live or instant support.
Yes. Learners receive a completion certificate after finishing the course.
No. There is no placement service, recruitment support, CV-writing service or employment guarantee. The courses are educational and practical, not a hiring service.
Check your fit first
Try the related assessment without registering.
You will get an initial score, answer explanations and a topic-by-topic result.