US GAAP training

Prerequisites

No prior knowledge is required.

US GAAP training objectives

◗ Identify the main requirements of US GAAP

◗ Analyze the differences between French statutory accounts and US GAAP accounts

◗ Incorporating the latest developments in the American standard

◗ Use official sources and monitoring tools to update your knowledge

Training program

◗ US GAAP fundamentals and standards framework

- Rule-based approach and reference authorities: SEC, FASB
- Scope: listed companies, mandatory filings (10-K, 20-F)
- Accounting rules for other US companies
- Link between accounting and taxation
- US-specific accounting schemes

✔ UNDERSTANDING | Registration on the FASB website and codification searches

◗ Sales recognition (ASC606)

- Application of the 5 steps of ASC606 (similar to IFRS15)
- Over-time or point-in-time recognition: the conditions
- Key criteria: transfer of control and existence of a contract

✔ UNDERSTANDING | Application diagram for CA recognition conditions
✔ APPLY | Case study: transaction review - point in time or over time?

◗ Fixed assets, leases and impairment losses

- Property, plant and equipment (ASC360) and intangible assets (ASC350)
- Treatment of R&D
- Treatment of leases under ASC842
- 2-step impairment testing: differences with French and IFRS standards

✔ UNDERSTANDING | Decision tree for distinguishing between operating and finance leases
✔ APPLY | Case study: accounting treatment of an operating lease with the lessee
✔ ASSESS | Knowledge acquisition assessment quiz

◗ Employee benefits (ASC 715)

- Treatment of defined benefit plans
- Recognition of actuarial gains and losses: OCI and amortization

✔ UNDERSTAND | Illustration of the calculation of a simple pension commitment
✔ UNDERSTAND | Diagram of changes in the obligation (passive) and the fund (active)
✔ APPLY | Case study: impact of a change in actuarial assumptions
✔ ASSESS | Knowledge acquisition assessment quiz

◗ Provisions and contingent liabilities

- What is provisioned and when? Discrepancies between French and IFRS standards

✔ UNDERSTANDING | Decision tree for recognizing a provision
✔ APPLY | Case study: accounting treatment of a restructuring provision

◗ Financial instruments and fair value

- Fair value hierarchy (inputs level 1 to 3 - ASC820)
- Main financial instruments

✔ UNDERSTAND | Illustration using actual financial statements
✔ APPLY | Case study: calculating amortized cost

◗ Consolidation and business combinations

- Consolidation methods
- Treatment of business combinations: PPA, full goodwill, earn-out, etc.
- Goodwill impairment testing

✔ UNDERSTANDING | Explanatory diagram of the steps involved in a PPA
✔ APPLY | Case study: acquisition of a non-profit entity

Why choose this US GAAP course?

US GAAP (American accounting standards) differ in many respects from French social accounting standards (IFRS). These standards are constantly evolving. It is essential to keep abreast of new developments in order to anticipate new reporting requirements.
In just two days, this training course will enable you to update your knowledge and understand the main adjustments involved in switching from one accounting framework to another.

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 knowledge is acquired.

Afterwards: the trainer is available to answer any questions relating to the training.

General training | FinHarmony Conseil & Formation

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Price

2,250 EXCL. TAX

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US GAAP training

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US GAAP training