Comprehensive Guide to US GAAP: Principles and Applications
Category : Consolidation, US GAAP, Accounting
Duration: 5 days
This comprehensive program provides a deep dive into the principles and applications of US GAAP. Participants will explore the foundational concepts of US GAAP, including recognition, measurement, and disclosure requirements. The course covers various key standards and their real-world applications, helping participants understand how US GAAP impacts financial reporting and decision-making.
Learning Objectives
Understand the core principles and framework of US GAAP
Apply key accounting standards in real-world scenarios
Prepare financial statements in compliance with US GAAP
Ensure accurate disclosures and financial reporting
Training Program
Introduction to US GAAP Principles
Overview of the US GAAP framework and conceptual foundation
Key differences between US GAAP and other accounting frameworks
Practical case: Identify the key components of financial statements under US GAAP
Recognition and Measurement under US GAAP
Revenue recognition, expense recognition, and matching principle
Asset and liability recognition and measurement
Practical case: Apply recognition and measurement principles in financial reporting
Financial Statement Preparation and Presentation
Structure and presentation of the balance sheet, income statement, and cash flow statement
Classification and grouping of financial statement items
Practical case: Prepare financial statements for a mid-sized corporation
Disclosure Requirements under US GAAP
Key disclosure requirements for various standards (ASC 606, ASC 842)
Practical case: Draft a financial statement disclosure for a public company
Recent Updates and Changes in US GAAP
Overview of recent updates and amendments to US GAAP standards
Practical case: Implement recent changes to US GAAP in financial reporting
Key Points
Numerous practical examples illustrating the different studied concepts
Practical cases to draw parallels with the concepts learned
Who Should Attend This Training
Accountants and financial analysts
Controllers and financial reporting professionals
Auditors and compliance officers
Corporate finance professionals
Prerequisities
Basic understanding of financial statements and accounting principles
Teaching Methods
Training structured around skill transfer
Acquisition of operational skills through practice and experimentation
Collaborative learning during synchronous sessions
Multi-stage learning path to allow engagement, learning, and transfer
Training promoting participant engagement for better anchoring of lessons
Satisfaction and Evaluation
Skill evaluation will be conducted throughout the training by the participant (self-evaluation) and/or the trainer according to the training methods.
Online training evaluation on your participant space:
Immediate evaluation at the end of the training to measure your satisfaction and perception of skill improvement against training objectives. With your agreement, your overall rating and comments will be published on our site via Verified Reviews.
Post-training evaluation 40 days later to validate the transfer of your acquired skills in the workplace
Attendance tracking and issuance of an individual training certificate or a certificate of completion
LONDON
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PARIS
38 Rue Boulard, 75014, Paris