us gaap training Course Content

Origins & Rules of US GAAP
  • To explore the origins & rules of US GAAP we look at:
  • The US GAAP overseeing bodies
  • The US GAAP timelines
  • Requirements to follow US GAAP
  • SEC reporting requirements & consequences
  • The Sarbanes Oxley Act
  • The COSO Financial Controls Framework
Exploring the basics of US GAAP
  • To explore the basics we will look at foundation of US GAAP, specifically:
  • FASB codifications & conceptual framework
  • The 12 basic principles of US GAAP
  • The key financial statements under the US GAAP
  • The notes to financial statements
Specific Guidance on US GAAP
We will review two areas of specific guidance being:
(i) The basics of revenue recognition?
  • The 4 main criteria for revenue recognition
  • Revenue recognition to the multiple elements
  • Net versus gross revenue recognition
(ii) Capital Expenditure
  • Capital & operating expenditure
  • Captization timeline
  • Repairs, maintenance & replacements
  • License fees
  • Typical issues