Certificate in US GAAP

This 5-day program provides an in-depth understanding of US GAAP (Generally Accepted Accounting Principles). Participants will learn how to apply US GAAP in financial reporting, covering key standards such as revenue recognition, leases, and financial instruments. The course also addresses the differences between US GAAP and IFRS.

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Course details

Understand the core principles of US GAAP
Apply key US GAAP standards in financial reporting
Prepare financial statements in compliance with US GAAP
Navigate the differences between US GAAP and IFRS

Introduction to US GAAP Framework
- Overview of the US GAAP framework and conceptual basis
- Key differences between US GAAP and IFRS
- Practical case: Identify key US GAAP principles in financial statements
Revenue Recognition (ASC 606)
- Applying the five-step model for revenue recognition under US GAAP
- Practical case: Apply revenue recognition to a service-based company
Lease Accounting (ASC 842)
- Accounting for leases under US GAAP, including operating and finance leases
- Practical case: Record lease transactions under US GAAP for a commercial property
Financial Instruments (ASC 320/825)
- Classification, measurement, and disclosure of financial instruments
- Practical case: Apply US GAAP to a bank’s financial instrument portfolio
Consolidation (ASC 810)
- Consolidation requirements for subsidiaries and variable interest entities (VIEs)
- Practical case: Prepare a consolidated financial statement for a group of companies
Business Combinations (ASC 805)
- Accounting for mergers and acquisitions under US GAAP
- Practical case: Account for a business combination and goodwill impairment
Stock-Based Compensation (ASC 718)
- Accounting for employee stock options and share-based payments
- Practical case: Apply US GAAP to stock compensation for a tech firm
Impairment of Assets (ASC 350/360)
- Goodwill and long-lived asset impairment under US GAAP
- Practical case: Calculate impairment of goodwill for a manufacturing company
Disclosures and Financial Reporting
- Key disclosure requirements under US GAAP
- Practical case: Draft financial disclosures for a public company under US GAAP
Recent Updates to US GAAP

Overview of recent updates to US GAAP standards and future trends
Practical case: Implement recent US GAAP changes in a company’s financial statements

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