US GAAP - Financial Reporting under US Accounting Requirements

Summary

This course explains US GAAP for accountants in Ireland who work in US groups. It contains practical guidance on understanding the US rules and preparing US accounting reports.

Venue details:  
Virtual Classroom, , Online
Start date & time:  
11 November 2020 09:30
End date & time:  
12 November 2020 12:30
Price:  
By registering for this course you have accepted the terms and conditions
Training ticket cost:  
8.00 Training Tickets accepted
CPD hours:  
8.00
Speaker details
First nameLast name
Chris Nobes

Description

Product type:  
CPD course
Category:  
Financial reporting

Format

This course will be delivered over two half days via Zoom on Wednesday 11 November 2020 and Thursday 12 November 2020 from 9.30am to 12.30pm. The Zoom link will be emailed to participants the day before the course is due to take place

Who should attend

This course is suitable accountants and controllers working in Irish companies with US parents and Accountants and controllers working for groups which have US subsidiaries. It is also suitable for analysts or fund managers who are interested in US annual reports, as well as auditors of companies which have US parents or subsidiaries

    Course overview

    This course will follow the Virtual Classroom format and will encompass a full day's worth of learning. The online interactive live sessions will utilise the functionality of our online learning platform and will be an engaging collaborative manner of learning.

    • Scale of differences between US, UK/Irish and IFRS accounting
    • The relationships between accounting, law and tax in the US
    • US institutions: SEC, FASB, AICPA
    • SEC regulations / FASB standards
    • Preliminary study of US annual reports and illustrations
    • Presentation of financial statements, including other comprehensive income
    • Recent US requirements on revenue recognition and lease accounting
    • US GAAP on asset valuation, depreciation and impairment
    • Other important accounting differences, such as: inventory; intangibles; marketable securities; hedge accounting; currency translation; deferred tax; pensions; share-based payments; goodwill; consolidation
    • Summary of important differences between US GAAP and IFRS or UK/Irish GAAP

    Key learning outcomes

    By the end of this course, participants wil be able to:

    • Understand the environment and reporting requirements of US groups
    • Have insight into the preparation of financial statements under US GAAP
    • Adjust accounting numbers from local GAAP to US GAAP, or vice versa
    • Better understand instructions coming from group controllers in the US
    • Consolidate, assess, interpret and audit the financial statements of US subsidiaries
    • Avoid the pitfalls for analysis of US annual reports caused by the large accounting differences
    • Have better relations with US staff

    Speaker Bio

    Christopher Nobes is Professor of Accounting at Royal Holloway (University of London) and at the University of Sydney. He has held teaching posts in New York and San Diego. He is the author of Financial Reporting in the US, published by the Financial Times. He was one of the two UK representatives on the Board of the International Accounting Standards Committee from 1993 to 2001. He was the 'Outstanding International Accounting Educator' of the American Accounting Association in 2003.