Acquire the fundamentals
Target audience
0.5 day
Virtual Classroom
US GAAP distance learning
Prerequisites
Prerequisites: no prior knowledge required.
Materials: training materials and the link to the virtual classroom are provided the day before the course.
Objectives
◗ Identify the main principles of US accounting standards
◗ Compare the main divergences with other accounting standards (IFRS and French GAAP)
◗ The American accounting and regulatory environment
Training program
◗ Introduction to US GAAP
- Definition and scope of US GAAP
- Stakeholders concerned: US-based entities and their foreign subsidiaries,
countries whose legislation permits the application of US GAAP (Switzerland, Canada, Japan
in certain cases...)
- Official resources: access to FASB, regulatory watch
✔ COMPRENDRE | Illustration: consultation of the FASB site and search in the codification
✔ UNDERSTANDING | Brainstorming: exchange on communication issues with
US subsidiaries
◗ Treatment of leases (ASC 842)
- Lease accounting from the lessee's perspective
- Recording the right of use and the lease liability
- Impact on balance sheet and income statement
✔ APPLY | Case study: accounting for a lease with T-accounts
✔ UNDERSTAND | Analysis of balance sheet and P&L impacts
◗ Revenue recognition (ASC 606)
- Step-by-step approach: identification of the contract, obligations, valuation of flows, etc.
- Comparison with the French standard on sales recognition
- Focus on practical differences
✔ UNDERSTAND | Illustration: the 5 steps of ASC 606
✔ EVALUATE | Quiz: test of understanding differences in treatment
◗ Treatment of retirement provisions (ASC 715)
- Accounting for defined benefit plans
- Treatment of actuarial gains and losses: OCI vs income statement
- Presentation of employee liabilities in US financial statements
✔ APPLIQUER | Case study: construction of a table of changes in the
pension provision
✔ ASSESS | Quiz: understanding the treatment of OCI items
◗ Development costs and impairment
- Capitalization of development costs: stricter US approach
- Impairment: comparison of US GAAP and French GAAP methods
- Accounting implications and consolidated reporting
✔ UNDERSTANDING | Illustration: analysis of US financial statements
✔ UNDERSTANDING | Discussion: points of vigilance in double reporting situations
Teaching and assessment methods
◗ Distance learning:
- Three visuals: video presenter, presentation, virtual flip chart
- Interactive quizzes
- 6 participants maximum
Before: self-assessment quiz
During the session: presentation of the main principles, practical implications, examples drawn from recent financial statements. Practical case studies and interactive quizzes to ensure knowledge acquisition.
After the course: The trainer is available at the end of the course to answer any questions relating to this distance learning course.
See our full training catalog.
Price
740 EXCLUDING VAT
Testimonials
US GAAP distance learning
US GAAP distance learning
US GAAP distance learning
Jonathan C.
Company
Training