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US GAAP and SEC Reporting Course

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US GAAP Update and Application Briefing (Virtual Classroom)

Course Details

Code:2081v
Select a start date for more details
Virtual Classroom
26 Oct - 29 Oct 2020
Level
Update
CPD
16 Hours
Time
13:00-17:00
Location
Virtual Classroom
Cost
£1,850.00
Subject to Online Tax From Web (Read more)
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Introduction

This virtual training is being delivered live and online over 4 individual sessions, each of 4 hours’ duration from 13:00 – 17:00 London (UK). The course is designed for experienced preparers and users of US GAAP financial statements. It has three main aims:

  • Explain in detail how to apply significant changes to US GAAP effective for 2020 and later
  • Share recent practical experience of implementing ASC 842 Leasesand Targeted Improvements to ASC 815 Accounting for Hedging Activities
  • Clarify the impact of coronavirus on preparing US GAAP financial statements in 2020

 

The course examines significant changes in US financial reporting and accounting requirements. It represents a practical guide to developments that have recently occurred, as well as to upcoming projects.

This program answers questions such as:

  • How are US GAAP financial statements for 2020 affected by coronavirus?
  • How should the expected credit loss model be implemented?
  • What lessons can be learnt from applying the new and amended requirements for leases and hedge accounting?

Learning Objectives

  • Apply new US GAAP accounting and disclosure requirements effective for 2020
  • Learn how coronavirus affects GAAP relevant to your organisation
  • Plan ahead for future changes

Who Should Attend

This course is primarily designed for those who currently prepare their financial statements under US GAAP. It is also suitable for those employed by subsidiaries of US parents 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 recent and upcoming developments.

Topics

  • Recent Pronouncements
    • Accounting Standards Updates and FASB Staff Qs &As
    • FASB Technical Plan
    • SEC
  • Updates effective 2020
    • Measurement of Credit Losses on Financial Instruments (ASU 2016-13) – amended by later ASUs
    • Disclosure Initiative (ASU 2018-13 and ASU 2018-14)
    • Simplifying the Goodwill Impairment Test (ASU 2017-04)
  • Recent Practical Experience of Implementing Standards
    • Leases (ASC 842)
    • Hedging Activities (ASU 2017-12)
  • Impact of Coronavirus on US GAAP financial statements in 2020
    • Presentation and Disclosure
    • Impairment of Goodwill, Intangibles and Long-lived Assets
    • Financial Assets and Liabilities
    • Leases – Concessions
    • Income Taxes
    • Government Assistance
    • Revenue

Teaching Method

  • Group internet instruction by specialist instructors
  • Clear and simple description and explanation of US GAAP requirements
  • Use of case studies and real-world examples to illustrate practical application
  • Interactive participation is encouraged, with all attendees being required to be present on camera for the duration of the sessions
  • All participants receive comprehensive electronic course notes, including presentation slides, handouts and other course materials
  • This virtual training is being delivered live and online over 4 individual sessions, each of 4 hours’ duration. The sessions will run each day from 13:00 – 17:00 London (UK)

Instructors

The instructor for this course will be drawn from one of our core faculty of subject matter experts. Further details will be published at the earliest opportunity.

Venue

Our seminars take place in 4 star professional conference facilities, generally in city-centre 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.

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: www.nasbaregistry.org.

 

Field of study: Accounting

Prerequisites

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