Key differences between French GAAP and US GAAP
- Accounting and Consolidation under US GAAP - Accounting production: Know how to prepare consolidated accounts under US GAAP
- Financial instruments and hedging tools - Be familiar with financial instruments and hedging tools (fair value hedge /cash flow hedge, titirisation, credit derivatives, hybrid debt)
- Financial statements and notes - Know the balance sheet, the income statement, the cash flow statement, the statement of changes in shareholders' equity, the OIC, the notes.
Target audience
- Accounting managers
- Chartered Accountants, Statutory Auditors
- Consolidation and Accounting Directors
- Consolidation managers
- Consolidators
- Financial managers
- Management controllers
2 day
Prerequisites
This training does not require any particular prerequisite
Objectives
– Master the main US GAAP requirements
– Understand the differences between annual statements under French GAAP and financial accounts under US GAAP
– Learn recent US standards updates
– Know where to find relevant information and how to remain up to date
Detailed content
> Fundamentals of US GAAP
– Where the US accounting regulation comes from. The codification.
– Financial statements layout, understanding OCI
> The recent changes and updates of US standards
– Revenue recognition (new accounting standard applicable since 2018)
• The new approach. Analysis of the different components of complex or compound contracts (identifying performance obligations).
• Criteria for recognizing revenue at percentage of completion (over time recognition)
– Lease contracts
• Reminders about financial leases accounting treatment (lessor)
• The new accounting treatment of operating leases (lessee, new accounting standard applicable since 2019
– Financial instruments (new standard applicable since 2018)
> The main (other) differences between US and French standards
– Employee benefits: post-employment and stock options plans
– Research and Development expenses: limits to capitalization
– Impairment test: application scope and practical issues. RU (Reporting Units) definition
> A few other differences (fixed assets, provisions, consolidation adjustments…)
Why should you attend?
US accounting standards are significantly different from the French standards. Some accounting rules particularly are different, and you should know them. But beyond accounting methods, you must get familiar with a different approach to accounting.
This two-day training will develop your knowledge of US accounting terminology, allow you to understand how to handle US accounting issues and master technical topics.
Training and assessment methods
Comparative presentation of US and French GAAP. Illustrations drawn from numerous actual US financial statements. Numerous case studies and quiz.
Assessment questionnaire.
A training certificate is delivered at the end of the session.
The trainer is available by e-mail to answer any follow-up questions participants may have.
Price
1 840 € Excl. VAT – 2 208 € Incl. VAT
Médias
Témoignages
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Jonathan C.
Entreprise
Formation