Understanding and implementing
Target audience
- Accountants
- Consolideurs
- Contrôleurs de gestion
- Experts comptables, Commissaires aux comptes
- Responsables financiers, consolidation et comptables
1 day
New training
American accounting training
Prerequisites
No previous knowledge required.
Objectives of the American accounting course
◗ Integrate the main accounting and tax obligations of U.S. companies
◗ Compare the main US accounting rules, and the divergences from IFRS.
◗ Analyze accounting schemes specific to American accounting
◗ Adapting practices and discourse to facilitate dialogue with American accounting teams
Training program
◗ Accounting and tax framework for U.S. companies
- US GAAP (ASC) mandatory for listed companies
- Federal taxation separate from state and local taxes
- Link between accounting and taxation in the USA
✔ UNDERSTANDING | Reading IRS instructions
✔ UNDERSTANDING | Schema for determining federal taxable income
◗ Specific accounting schemes
- Local logic: no capitalization of expenses
- Accounting logic: balance sheet to balance sheet
- Inventory variations: the US approach - How to reconcile?
✔ UNDERSTANDING | Comparison of French and US accounting requirements
✔ APPLY | Case study: reconciling entries relating to changes in inventory
◗ Treatment of leases (ASC 842)
- Recording of right-of-use and lease liability for contracts exceeding
than 12 months
- Classification between operating and capital leases
- Separate balance sheet presentation according to the nature of the lease
✔ UNDERSTANDING | Operating lease versus finance lease decision tree
✔ APPLY | Case study: processing an industrial equipment lease contract
◗ Employee benefits and pension plans (ASC 715)
- Recognition of obligations net of plan assets
- Treatment of actuarial gains and losses: OCI and amortization to income
- Presentation differs from IAS 19, particularly with regard to the assumptions used
✔ UNDERSTANDING | Decomposition of DBO, impact in OCI, amortization
✔ APPLY | Case study: accounting impact of a change in actuarial
actuarial assumption
◗ Tangible and intangible fixed assets
- Property, plant and equipment (ASC 360): straight-line depreciation, historical cost, provision
for dismantling
- Intangible assets (ASC 350): exceptional capitalization of development costs
development costs (mainly software)
- 2-step impairment test
✔ UNDERSTANDING | IFRS/US GAAP correspondences and divergences
✔ APPLY | Impairment testing quiz
◗ Provisions
- Criteria for recognizing a provision
- Valuation based on the most probable scenario
- Specific situations: restructuring, loss-making contracts, customer guarantees
✔ UNDERSTANDING | Decision tree for recognizing a provision
✔ APPLY | Case study: recognizing a restructuring provision
Why choose this American accounting course?
US GAAP (American GAAP) differs from IFRS in a number of respects, which you need to be aware of. But the main source of misunderstanding between accounting
and finance teams on either side of the Atlantic often stems from a different approach to accounting rules.
This training course explains not only US accounting rules, but also the accounting patterns and processes specific to US companies.
Teaching and assessment methods
Before: self-assessment quiz
During the session: presentation of treatments specific to US GAAP, examples drawn from real-life situations. Case studies, interactive quizzes and discussions during the session ensure that you have acquired the knowledge you need.
Afterwards: the trainer is available to answer any questions relating to the training.
General training | FinHarmony Conseil & Formation
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Price
1295 € EXCL. TAX
Testimonials
American accounting training
American accounting training
American accounting training
Jonathan C.
Company
Training