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
