The course is structured into in-depth modules, each focusing on a critical area of US GAAP financial reporting.

Introduction to US GAAP

The U.S. accounting environment and regulatory framework
Overview of FASB, SEC, and PCAOB roles
Comparison between US GAAP and IFRS

Revenue Recognition (ASC 606)

The five-step model for revenue recognition
Identifying contracts, performance obligations, and transaction price
Presentation and disclosure requirements

Lease Accounting (ASC 842)

Classification of leases: finance vs. operating
Recognition of lease assets and liabilities
Transitioning to ASC 842 from previous guidance

Accounting for Financial Instruments

Classification and measurement of debt and equity securities
Derivatives and hedge accounting under ASC 815
Fair value and impairment assessments

Income Taxes (ASC 740)

Recognition and measurement of deferred tax assets and liabilities
Accounting for uncertain tax positions
Disclosures related to income tax and effective tax rate

Fair Value Measurement (ASC 820)

Definition of fair value and the three-level hierarchy
Valuation techniques and market-based inputs
Application of fair value in financial statements

Consolidations and Business Combinations (ASC 805 & 810)

Accounting for acquisitions and goodwill
Non-controlling interests and variable interest entities (VIEs)
Step-by-step consolidation process

Provisions, Contingencies, and Subsequent Events

Recognition of liabilities and loss contingencies
Events occurring after the balance sheet date (ASC 855)
Required financial statement disclosures

Presentation and Disclosure Requirements

Form 10-K and 10-Q preparation basics
SEC filing requirements and EDGAR system overview
Notes to financial statements and MD&A (Management Discussion & Analysis)

Internal Controls and Compliance

Sarbanes-Oxley Act (SOX) Section 404 implications
Best practices in control documentation and testing
Preparing for internal and external audits

By the conclusion of the Financial Reporting under US GAAP Training Course, participants will have the skills and confidence to apply US GAAP accurately in financial reporting, identify and correct reporting deficiencies, and support their organizations in achieving financial transparency and regulatory compliance. This course is a key step for professionals seeking excellence in U.S. financial reporting practices.

Financial Reporting under US GAAP Training Course in London

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