Course detail

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Contents

• Introduction
• Prerequisites
  
• Course Level
  
• Topics
  
• Course Benefits
  
• Teaching Method
  
• Continuing Professional Education
  
• Venue
  
  

Introduction

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This two-day course examines recent and likely future developments in US financial reporting and accounting research applications. The programme provides a technical update on US GAAP. The programme has been specifically developed to bring experienced preparers and users of financial statements up-to-date with developments that have occurred during the past 12 months, as well as other recently-effective and impending pronouncements. Technical update coverage includes new and proposed FASB Accounting Standards Updates, recent SEC issues, and FASB agenda projects. The programme also includes a discussion of trends in recent SEC comment letters.

This course answers questions such as:

• What are the recent and likely future changes in US GAAP?

• When will new requirements be effective?

• What are the application and transition rules relating to new pronouncements?

• In what ways does convergence with IFRS affect US GAAP filers?

Prerequisites

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A reasonable prior knowledge of the technical requirements of US GAAP is assumed. No other advance preparation is required for this course.

Course Level

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Update

Topics

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• US GAAP Background and Update
• Current FASB Technical Plan
• Joint FASB / IFRS Project update
• Overview and History of US GAAP
• Other Developments impacting US reporting:
• Recent SEC issues
• JOBS Act
• Conflict Minerals
• Trends in SEC comment letters
• Technical Update
• Recent Accounting Standards Updates and Exposure Drafts
• Presentation of Comprehensive Income (ASU 2011-05)
• Fair Value Measurements and Disclosures (Topic 820)
• ASU 2011-04
• Financial Instruments (Topic 825)
• Intangible Assets (Topic 350)
• ASU 2012-02
• ASU 2011-08
• Leasing (Topic 840)
• Revenue Recognition (Topic 605)
• Income Taxes (Topic 740)
• Liabilities (Topic 400 & 815)
• Assets (Topic 300, 410, 845)
• ASU 2011-11
• Proposed and outstanding Exposure Documents
• Disclosure Framework
• Private Company Decision Making Framework
• Fair Value Measurement
• Accounting for Financial Instruments
• Hedge Accounting
• Impairment of Financial Instruments
• Leases
• Revenue Recognition
• Discontinued operations
• Going Concern
• PCAOB updates

Course Benefits

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• Understand the current US financial reporting environment
• Apply recent changes in US GAAP and plan ahead for expected future changes
• Build on existing knowledge and be prepared to comply with upcoming requirements
• Become familiar with recent SEC developments
• Consider the future direction of US GAAP
• Network and interact with other experienced practitioners
• Benefit from real-world illustrations

Teaching Method

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• Live group instruction
• Presentation of technical update examples and case studies
• Explanation and discussion of current and upcoming accounting issues
• Use of real-world financial statements for illustration
• Interactive participation is encouraged
• All participants receive a comprehensive binder containing copies of the presentation slides, handouts and other course materials

Bring This Course In House

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To bring this course in-house please contact us and we will be pleased to assist.

Continuing Professional Education (CPE)

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16 hours

Venue

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All of our London seminars take place in 4 star professional conference facilities, usually in city-centre downtown hotels like the Marriott, Sheraton or Hilton brands. Detailed Joining Instructions are sent to all registered delegates by email approximately one month before the event. The Joining Instructions will confirm exact venue details and nearby (or onsite) hotel recommendations with bedroom rates where available. Coffee and lunch will be provided .