US GAAP: A Comprehensive 5-Day Immersion Course
Welcome to our 5-day (Online/In-Person) US GAAP Immersion workshop, designed to provide you with a comprehensive understanding of US GAAP and its applications. This intensive training course is intended for professionals who need to navigate complex US GAAP accounting issues on a daily basis. Over the course of five days, we will cover the core principles of USGAAP, its financial statements, and major accounting topics including revenue recognition, inventories, business combinations, leases, intangible assets, financial instruments, and non-financial liabilities and contingencies. We will also delve into recent amendments and new standards effective from 2022 and 2023, exposure drafts, and projects in the pipeline.
Throughout the workshop, you will have the opportunity to engage with our experienced trainers who will share real-life examples and best practices to help you understand the nuances of US GAAP accounting. We will provide you with the latest resources and tools, including the US GAAP Codification, and give you the skills you need to research and apply US GAAP accounting standards with confidence. By the end of this workshop, you will have a solid grasp of US GAAP and be able to apply it to your own organization’s financial reporting requirements. You will also receive a certificate of completion, which can be used for your professional development requirements.
We look forward to your active participation and hope that this workshop will be a valuable learning experience for you.
Key Learning Features
- Understand the classification and measurement of financial assets and liabilities under US GAAP
- Learn about the principles of fair value accounting and impairment testing for financial instruments
- Understand the accounting treatment for derivatives, including hedging activities
- Gain an in-depth understanding of the accounting treatment for business combinations under US GAAP
- Learn about the principles of purchase accounting, goodwill recognition and measurement, and the calculation of non-controlling interests
- Understand the principles of consolidation accounting and the preparation of consolidated financial statements
- Learn about the treatment of intercompany transactions, including eliminations and adjustments for fair value
- Gain an understanding of the principles of derecognition of financial instruments under US GAAP
- Learn about the criteria for derecognition and the accounting treatment for transactions such as sales, transfers, and repurchases of financial instruments
Global In-Person Programs
London | Toronto | New York City | Miami | Las Vegas | Chicago | Seattle | San Francisco | Washington DC | Dallas | Online
For More Information
For more information about the US GAAP course and to register, please contact our customer services team. They will be happy to assist you with any queries you may have about the course, including pricing, schedule, location, and registration process. You can contact our customer services team by phone, email, or online chat. We look forward to hearing from you and helping you take the next step in your professional development.
Instructor Bio
Our trainers have specialist knowledge and first-hand experience in implementing the International Financial Reporting Standards (IFRS), International Public Sector Accounting Standards (IPSAS), Generally Accepted Accounting Principles (USGAAP), UK GAAP, Risk management strategies, Valuations, Mergers & Acquisitions, Corporate Governance, Environmental, social, and corporate governance (ESG) reporting, Supply Chain Management, Prudential regulations, Compliance matters (such as Basel regulations, Solvency II, Anti Money Laundering regulations and a number of other evolving regulatory matters) and a whole range of professional development programs (e.g., Negotiations Skills, Presentation Skills, Data Management, Python, Block-Chain, Digital Assets, Becker CPA etc.)
This ensures an engaging and stimulating learning experience for professionals and senior executives, helping to ensure knowledge is retained. They understand the accounting and regulatory requirements, risk environment, industry issues and challenges, risk management strategies, financial reporting & disclosure requirements, and compliance environment. They impart their knowledge using real-life industry examples, simple and user-friendly presentations of important concepts/approaches and case studies.
Instructor for this course
Shasat Faculty
Our Partners
Our Partners in Learning
Course Description
US Financial Reporting
- Overview of US GAAP and its Codification (ASC)
- How the ASC is updated (ASUs)
- US GAAP Financial Statements
Revenue Recognition and Inventory
- ASC 606 – Revenue from Contracts with Customers
- The Core Principle
- The 5-Step Model for Revenue Recognition
- Contract Costs
- Application Areas
- Disclosures
- ASC 330: Inventory
- Costs
- Allocation Methods
- Valuation
- Disclosures
Long-lived Assets, Leases and Non-financial Liabilities
- ASC 360: Property, Plant, and Equipment
- Cost of Fixed Assets
- Capitalization of Interest
- Asset Retirement Obligations
- Subsequent Expenditures
- Depreciation
- Assets Held for Sale
- Non-Monetary Transactions
- Impairment of Long-Lived Assets
- ASC 410: Asset Retirement and Environmental Obligations
- ASC 450: Contingencies
- Restructuring provisions
Business Combinations, Equity Investments and Intangible Assets
- Overview of business combinations
- ASC 805: Business Combinations
- Purchase consideration and contingencies
- ASC 810: Consolidation
- ASC 323: Investments – Equity Method and Joint Ventures
- Equity method accounting
- Joint ventures and equity investments
- ASC 350: Intangible Assets
- Identification and recognition of intangible assets
- Measurement of intangible assets
- Accounting for research and development
- Impairment testing of goodwill
Long-Lived Assets Including Leases
- ASC 840 – Leases
- ASC 842 – Leases
- Cost of Fixed Assets
- Capitalization of Interest
- Asset Retirement Obligations
- Subsequent Expenditures
- Depreciation
- Assets Held for Sale
- Non-Monetary Transactions
- Impairment of Long-Lived Assets
Non-Financial Liabilities and Contingencies
- Definitions
- Contingency Accounting and Disclosures
- Restructuring Provisions
Employee Benefits
- ASC 710 – Compensation – General
- ASC 712 – Compensation – Nonretirement Postemployment Benefits
- Short-Term Employee Benefits
- Pension Cost Measurement and Presentation
- Share-Based Payment
Financial Instruments
- ASC 825 – Financial Instruments
- ASC 815 – Derivatives and Hedging
- ASC 860 – Transfers and Servicing
- Financial Assets – Classification and Accounting Treatment
- The Fair Value Option
- Financial Liabilities
- Hedging and Hedge Accounting
- Transfers and Servicing of Financial Assets
Current FASB Work Plan and Mainstream Agenda Items
The course agenda provided herein is the proprietary intellectual property of Shasat. It is intended solely for the use of participants enrolled in the respective course. Any reproduction, distribution, or unauthorized use of this course agenda, in whole or in part, without the explicit written consent of Shasat, is strictly prohibited and may result in legal action.
All rights reserved. ©2024, Shasat
Why you must attend?
Finance Executives play a critical role in shaping the financial health of their organizations. To make informed decisions, it’s essential for them to have a deep understanding of US GAAP, the cornerstone of financial reporting in the US. Attending a 5-day US GAAP course can be an incredibly valuable investment in their professional development, as it provides a comprehensive and immersive learning experience that covers all key aspects of US GAAP.
Through this course, executives will gain a solid understanding of US GAAP Financial Statements, Revenue Recognition, Inventories, Overview of Business Combinations, Equity Investments and Joint Ventures, Intangible Assets, Long-lived Assets including Leases, Non-financial liabilities and contingencies, Employee Benefits, Financial Instruments, Future Developments, and Researching US GAAP. They will also learn about the latest amendments and new standards effective from 2022 and 2023, exposure drafts, projects in the pipeline, and differences between US GAAP and IFRS.
By attending this course, executives will develop the knowledge, skills, and confidence to analyze financial statements, interpret accounting policies, and make sound business decisions that align with their organization’s strategic objectives. This immersive experience will also provide an opportunity to network with other professionals and gain insights from expert instructors. Overall, this course is a must-attend for executives who want to enhance their financial acumen and drive success for their organizations.
Key Features of the course
- Comprehensive coverage of US GAAP principles and their application: Understanding the key principles of US GAAP, their practical implications, and how to apply them in financial reporting.
- In-depth exploration of major accounting topics: Covering important accounting topics such as revenue recognition, inventories, business combinations, leases, intangible assets, financial instruments, and non-financial liabilities and contingencies.
- Real-life case studies and examples: Providing practical, real-life examples and case studies to help participants understand and apply US GAAP principles in their daily work.
- Interactive training methods: Engaging participants in interactive training methods such as group discussions, exercises, and problem-solving activities, to deepen their understanding of US GAAP principles.
- Access to US GAAP Codification and other resources: Providing participants with access to US GAAP Codification and other relevant resources to support their learning and help them stay up-to-date with the latest standards.
- Expert trainers with practical experience: Offering expert trainers with practical experience in US GAAP accounting to provide participants with valuable insights and best practices.
- Certificate of completion: Providing a certificate of completion at the end of the course, which can be used for professional development requirements.
Overall, the 5-day US GAAP course will provide participants with a comprehensive understanding of US GAAP principles and their practical applications, as well as the tools and resources needed to stay up-to-date with the latest standards.
Who Should attend?
The 5-day US GAAP course is designed for professionals in accounting, finance, and business who want to deepen their knowledge and understanding of US GAAP. This course is ideal for financial executives, accounting professionals, controllers, auditors, and other professionals who are responsible for preparing, auditing or interpreting financial statements. Additionally, the course is suitable for those who are looking to stay up-to-date with the latest changes and developments in US GAAP. The course will provide a comprehensive overview of US GAAP, as well as practical examples and case studies to help participants apply their learning in real-world scenarios.
Feedback
Upon completion of the course, all delegates will receive an evaluation questionnaire aimed at gathering valuable feedback. This feedback is crucial to Shasat’s ongoing commitment to improving the quality of its learning solutions. By analyzing the trends in the responses, we are able to continuously enhance and refine our offerings to meet the evolving needs of our clients.
Venue & other info
Our training programs take place at the most prestigious professional training facilities in the city. Our venues have been meticulously chosen and expertly crafted to deliver an unparalleled and sophisticated learning experience. To further elevate your training journey, we will offer an array of refreshments including gourmet tea/coffee, delectable snacks, and a sumptuous lunch to sustain you throughout the course. Your comfort and satisfaction are of the utmost importance to us. One week before the program begins, you will receive comprehensive joining instructions that include the exact venue details.
Please note that accommodation arrangements are the responsibility of the attendee.
Workshop Delivery (Online Programs)
The workshop will be delivered via the WebEx platform. Upon registration, all participants will receive comprehensive joining instructions for the live workshop. This fully virtual event will encompass a live-streamed presentation, personalized networking opportunities, interactive Q&A sessions, engaging polls, and post-event consultation to address specific concerns and support your continued growth.
In-Person Workshop
Please be advised that for all in-person training programs, joining instructions will be sent via email to registered participants one week prior to the program’s commencement. These instructions will provide comprehensive information regarding the venue location, date, and time, as well as other important details such as parking arrangements, dress code, and any necessary equipment or materials. Kindly ensure that you carefully review the joining instructions and follow the guidelines provided to ensure a smooth and well-organized experience during the program.
Changes to the conference
Shasat reserves the right, at its sole discretion, to make modifications to the format, speakers, participants, content, venue location, program, or any other aspect of the conference, at any time and for any reason, without incurring any liability. This policy has been implemented due to recent events such as the Covid-19 pandemic and other jurisdictional restrictions. These modifications may include but are not limited to, changes necessitated by a Force Majeure Event
We are pleased to offer sponsorship opportunities for our training programs, providing companies with a unique platform to showcase their brand and services to a highly engaged and relevant audience. By becoming a sponsor, your organization will have the opportunity to build brand awareness, demonstrate thought leadership, and cultivate valuable relationships with industry professionals. Our programs offer a platform to reach a targeted audience and generate new business leads while showcasing your expertise. The benefits of sponsorship include increased brand exposure, opportunities to connect with key decision-makers, and a platform to promote your products and services. We invite you to take advantage of this prime opportunity and partner with us to enhance your visibility and impact within the industry.
We kindly request that you carefully review all of the terms and conditions outlined on our website. This information is critical in ensuring a clear understanding of our policies and procedures. Please follow the link provided to access this information.
Discover more about Shasat by exploring our “About Us” page, where you can gain insights into our company’s mission, values, and history, and learn how we can help you achieve your goals.
Payment
Enroll in our program with ease by choosing from our secure online payment options. You can make a payment through our website using PayPal or Stripe, or opt for a bank transfer, demand draft, or cheque payment. Our payment page will provide all necessary options during checkout. If you encounter any issues, our customer service team is here to assist you. Simply reach out to us with your selected course, and we’ll guide you through the payment process.
We kindly request that you take into consideration any associated bank fees when making your course fee payment. To ensure your participation in the program, payment must be received before the course date. Once we have received both payment and a completed registration form, we will confirm your enrollment in the program. Thank you for your understanding and cooperation.
Group discount
Our company is proud to offer a group discount of 15% for organizations or individuals who book a course for 5 or more participants. To take advantage of this offer and receive a personalized group discount code, please reach out to our customer service desk at info@shasat.com. Our team will be delighted to assist you with the booking process and answer any questions you may have. With this group discount, you can invest in the professional development of your team and drive success for your organization. Don’t hesitate to contact us today to learn more.
Upon successful completion of the training course, each participant will receive a certificate of completion that attests to the number of hours spent in training and serves as a valuable representation of their dedication to professional development. The certificate is not only a symbol of their achievement but also serves as proof of continuous professional development (CPD) and demonstrates their commitment to staying current in their field. We believe that CPD is a crucial aspect of career advancement and personal growth, and are proud to provide our participants with this important document.
For further assistance, we invite you to contact our dedicated customer service team. Our experienced and knowledgeable representatives are available to answer any questions you may have and provide the support you need to make informed decisions. We are committed to ensuring that you have a positive experience and are here to help in any way we can. Please don’t hesitate to reach out to us at your convenience.
In-House Training
Enhance your team’s skills and drive success for your business with our custom In-house training program. Our tailored approach aligns with your specific business needs, offering a cost and time-efficient solution for upskilling your employees. This not only improves their productivity but also positions your company as a competitive force in the market. Transform your investment in employee development into tangible results by choosing our In-house training option. To discuss and learn more about our services, please don’t hesitate to contact our training desk. We’re ready to help you create a bespoke program that’s just right for you.
