{"id":2754,"date":"2011-03-07T16:02:53","date_gmt":"2011-03-07T16:02:53","guid":{"rendered":"https:\/\/www.financial-fluency.co.uk\/"},"modified":"2018-11-20T12:33:22","modified_gmt":"2018-11-20T12:33:22","slug":"us-gaap-online-training","status":"publish","type":"page","link":"https:\/\/www.financial-fluency.co.uk\/online-learning\/financial-reporting\/us-gaap-online-training\/","title":{"rendered":"US GAAP Online Training"},"content":{"rendered":"

Introduction to US GAAP\"US<\/h2>\n

 
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\nUS Generally Accepted Accounting Principles (US GAAP) are used by all major North American companies and their international subsidiaries as well as foreign companies that are listed on a US stock exchange unless that company files in full compliance with International Financial Reporting Standards (IFRS).<\/p>\n

US GAAP is generally regarded as being more complex than UK GAAP and IFRS in many respects and following US GAAP can lead to notably different financial results.
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Online training in US GAAP<\/h2>\n

Based on our clients feedback we have spent several months developing an online course which will effectively introduce US GAAP to finance professionals. Many of our clients required a way to learn about US GAAP at a time to suit their busy schedules and with minimal abstraction costs away from the office.<\/p>\n

We are currently registering interest for a limited number of our clients. All clients who register their interest We will offer a no obligation introductory discount as soon as the course is released for a limited number of people who simply register their interest.<\/p>\n

To register your interest either email usgaap@financial-fluency.co.uk or use our contact form by clicking on the button below.
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Module 1 – US GAAP – Keeping up to date<\/h2>\n

Much of the change in US GAAP in recent times focussed on two very challenging standards, which could have far reaching consequences for organisations.<\/p>\n

This module introduces these two main areas and gives a high level overview of what the impact of these standards may be and what companies will need to consider as they adopt them.<\/p>\n

The aim of this module is to provide a high level overview of the new standards, explore the commercial impact and discuss what organisations need to do to prepare.<\/p>\n

Learning objectives<\/strong>
\n\u2022\tUnderstand the current position from FASB on convergence with IFRS
\n\u2022\tFind out about the two big developments in US GAAP; namely
\n –\tRevenue Recognition
\n –\tLease accounting
\n\u2022\tAny other significant developments<\/p>\n

Module 2 \u2013 US GAAP \u2013 new Revenue (\u201c606\u201d) recognition guidance<\/h2>\n

The new revenue standard is a step change from the current guidance. As a joint project with IASB this does help bring closer together US GAAP and IFRS on one of the most important measures in a set of accounts.<\/p>\n

The project is a step change for US GAAP and replaces numerous industry specific guidance with one consolidated guidance which is more principles based than the previous guidance.<\/p>\n

At the heart of the standard is a new 5 step model which needs to be understood and applied to revenue within the organisation.<\/p>\n

Learning objectives<\/strong>
\n\u2022\tUnderstand why US GAAP felt they needed to change
\n\u2022\tUnderstand the new 5 step model
\n\u2022\tUnderstand how to account for multiple elements within a contract
\n\u2022\tPractical issues in applying the standard
\n\u2022\tWhen and how the standard is applied in the first year<\/p>\n

Module 3 \u2013 US GAAP \u2013 new Leases (\u201c842\u201d)<\/h2>\n

The new leasing standard is one of the most far reaching accounting standard changes in recent times. Nearly every organisation rents or leases in one form or another and is therefore affected by the new changes.<\/p>\n

The new guidance mandates that nearly all leases will now appear on balance sheet which will have a significant impact on the numbers reported.<\/p>\n

However, the standard does not stop there \u2013 there are ramifications that go much further than just financial reporting, including stakeholder management, obtaining the data required impact on wider commercial metrics such as credit reports and bank covenants.<\/p>\n

The standard also brings with it increased focus on whether contracts that are perceived as service contracts actually contain a lease element (often referred to as an embedded lease) which may need to accounted for separately.<\/p>\n

Learning objectives<\/strong>
\n\u2022\tUnderstand why US GAAP felt they needed to change
\n\u2022\tCompare and contrast current accounting to the new model
\n\u2022\tPractical issues in applying the standard
\n\u2022\tIntroduction to the risks of embedded leases
\n\u2022\tWhen and how the standard is applied in the first year<\/p>\n

Target audience<\/h2>\n

These modules are designed to appeal to those who want a knowledge of recent\/upcoming changes to US GAAP. As this is a general update it is also suitable for those working in non technical roles.<\/p>\n

Please note \u2013 the aim of this course is not to provide comprehensive coverage of the new standards.<\/p>\n

 
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Completion certificate<\/h2>\n

At the end of the course you will be issued with a certificate of completion, which can be used for CPD (continuing professional development) purposes or as part of an employment record.
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Register your interest for a limited introductory discount<\/h2>\n

We are currently registering interest for a limited number of our clients. \u00a0We will offer a no obligation introductory discount as soon as the course is released for a limited number of people who simply register their interest.<\/p>\n

The price is expected to be between \u00a3200 and \u00a3300 (GBP) for all three modules.<\/p>\n

To register your interest (no obligation implied) please complete the form below and press submit.
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