Reporting under IFRS and US GAAP – What are the adjustments?
Comparison of French GAAP, IFRS 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.
  • IFRS standards - International Financial Reporting Standards

Target audience

- Accounting managers
- Chartered Accountants, Statutory Auditors
- Consolidation and Accounting Directors
- Consolidation managers
- Financial managers
- Management controllers

2 day

Prerequisites

This training does not require any particular prerequisite

Objectives

– Understand the required adjustments to convert French statutory accounts to IFRS or US GAAP and be able to audit the conversion
– Master the adjustments to be compliant with all requirements in a cost-effective way
– Be aware of recent or expected standards updates

Detailed content

> Fundamentals of IFRS and US GAAP standards

– The conceptual framework and the substance over form concept
– Rules-based versus principles-based standards

> Presentation of financial statements

> IFRS and/or US GAAP adjusting entries

– Revenue recognition
– Property, plant and equipment: initial cost and subsequent valuation. Depreciation: useful life and residual value.
– Leases contracts
– Intangible assets and costs eligible for capitalization. Research and Development expenses. Adjustments on deferred charges and capitalized expenses.
– Asset impairment test: scope and practical applications. Definition of CGU (Cash Generating Unit) and RU (Reporting Unit).
– Employee benefits
– Provisions
– Financial instruments

> Consolidation adjusting entries: initial asset valuation (goodwill, tangible, intangible assets, and inventories)

> Deferred tax on identified differences

> Presentation of equity and changes recorded in Other Comprehensive Income (OCI)

Why should you attend?

IFRS and US GAAP (US Generaly Agreed Accounting Principles), which are now very similar, present significant differences with French accounting standards. New IFRS and US standards applicable since 2018 and 2019 bring significant changes. This two-day training allows you to update your knowledge and to understand the main adjustments between one set of standards to the other.

Training methods and assessment

Presentation detailing a comparison between accounting treatments according to each standard, and illustrated with real-world scenarios, and numerous practical cases for each participant to complete.
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

illustration US GAAP IFRS
dessin recette US GAAP IFRS
dessin cuisine US GAAP IFRS
dessin yacht rames

Témoignages

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Jonathan C.
Entreprise
Formation