US GAAP Technical Update (2 days)

Course code: 2081


This two-day course examines recent and future developments in US financial reporting and accounting research applications. The program provides a technical update on US GAAP. It has been specifically developed to update experienced preparers and users of financial statements on developments that have recently occurred, as well as other recently effective and impending pronouncements. Technical update coverage includes new and proposed FASB Accounting Standards Updates, recent SEC issues, the Dodd-Frank Act, and FASB agenda projects. The program 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?


  • US GAAP Background and Update
    • Current FASB Technical Plan
    • Overview and History of US GAAP
    • Other Developments impacting US reporting:
      • Recent SEC issues
      • Trends in SEC comment letters
  • Technical Update
    • Recent Accounting Standards Updates
      • Employee Share-Based Payment Accounting Improvements (ASU 2016-09 and ASU 2017-09)
      • Pension Plan Accounting (ASU 2017-06 and ASU 2017-07)
      • Goodwill Impairment (ASU 2017-04)
      • Business Combinations: Clarifying the Definition of a Business (ASU 2017-01)
    • Revenue Recognition
      • Corrections and Improvements: Revenue from Contracts with Customers ( ASU 2016-20)
      • Principal versus Agent (ASU 2016-08)
    • Financial Instruments
      • Hedge Accounting (proposed standard)
      • Current Expected Credit Loss Model (ASU 2016-03)
      • Recognition and Measurement (ASU 2016-01)
      • Simplifying the Transition to the Equity Method of Accounting (ASU 2016-07)
      • Contingent Put and Call Options in Debt Instruments (ASU 2016-06)
      • Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships (ASU 2016-05)
    • Leases
      • Updated Leases (ASU 2016-02)
      • PCC Issue No. 2015-01, Effective Date and Transition (ASU 2016-03)
      • Leases (ASU 2016-02)
    • Other
      • Recognition and Measurement of Financial Assets and Financial Liabilities (ASU 2016-01)
      • Balance Sheet Classification of Deferred Taxes (AS U 2015-17)
      • Simplifying the Accounting for Measurement Period Adjustments (ASU 2015-16)
      • Application of the Normal Purchases and Normal Sales Scope Exception to Certain Electricity Contracts within Nodal Energy Markets (ASU 2015-13)
      • Employee Benefit Plan Simplifications (AS U 2015-12)
      • Simplifying the Measurement of Inventory (ASU 2015-11)
      • Technical Corrections and Improvements (ASU 2015-10)
    • Proposed and Outstanding Exposure Documents
      • Conceptual Framework
      • Consolidation
      • Statement of Cash Flows
      • Long-Duration Contracts
      • Liabilities and Equity
      • Disclosure Framework
      • Private Company Decision Making Framework
      • PCAOB updates

Teaching method

  • Group live 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


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

Course benefits

  • 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


See what past participants said about this course:

Thoroughly enjoyed my first experience with IAS. Very informative.

Nick Burns,
Navigator Gas, UK

As usual, it was an excellent seminar. [Instructor] did a fantastic job gearing the session to the participants' needs.

Who should attend?

This course is primarily designed for those who currently prepare or are planning on preparing their financial statements under US GAAP. It is also suitable for those employed by subsidiaries of US parents companies in order to comply with US consolidation rules. The course is designed for industry controllers, accountants, and auditors and finance professionals who want to keep up-to-date with developments that have occurred in the past 12 months and impending pronouncements.

CPE / CPD Accreditation


IASeminars is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: 

Field of study: Accounting

ICAEW Partner in Learning

IASeminars is proud to have been named as an ICAEW Partner in Learning, working together to offer the ICAEW IFRS Certificate to our clients worldwide. ICAEW (The Institute of Chartered Accountants in England and Wales) is a world leading professional membership organisation that promotes, develops and supports over 145,000 chartered accountants worldwide. CPE certificates obtained from attending IASeminars courses are an ideal way for ICAEW members and others to demonstrate their continuing professional development, provided that the topic is relevant to their learning and development needs.

Texas State Board of Public Accountancy

IASeminars is registered with the Texas State Board of Public Accountancy as a CPE sponsor. Our CPE Sponsor ID is: 009689. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program.


  • Our London seminars take place in 4 star professional conference facilities, generally in city-centre hotels like the Radisson (Vanderbilt), 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.


  • Robert Phelps BA FCA

    Bob Phelps BA, FCA (United Kingdom) is a trainer of long standing in the business and financial community. He specialises in International Financial Reporting Standards (IFRS), UK GAAP and US GAAP. This has involved him partnering in learning projects with a wide variety of different clients in both the private and public sectors. Working around the world, he has designed and delivered training within varying corporate and national cultures and has gained valuable experience of learners’ needs in what can be very different and challenging contexts.

    Recently he has delivered training courses to range of sectors including banking, insurance, legal, retail, real estate, oil and gas, waste disposal and engineering.

    Bob is a UK Chartered Accountant and was educated at private schools in Trinidad and the UK and at the University of Wales. An experienced accountancy exam tutor, he was formerly involved in the start-up and management of a regional training centre of a national financial training company. Bob’s work also includes training and consulting on financial statement analysis, business valuation and bank prudential regulation.

In House

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

Course details

Course schedule

Select a start date for more details

17 Jun 2019 London

Course level:
16 hours
Start date:
17 Jun 2019
Start time:
Finish date:
18 Jun 2019
Finish time:
GBP 1,850
Subject to UK VAT (Read more)
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