US GAAP: A Guide for Non-US GAAP Users

by Wayne Bartlett
access120 days access
cpd hours4 CPD hours

This course will enable you to:

  • Compare the accounts of companies reporting under different regulatory regimes
  • Understand the rules of US GAAP and how they compare to the principles-based IFRS system
  • Recognise the differences in the accounting treatment applied to non-financial assets under US GAAP and IFRS
  • Appreciate and general similarity of approach accounting for revenue and expenditure under US GAAP and IFRS
  • Familiarise yourself with the appropriate standards for accounting for financial instruments and business combinations

The USA has the world's largest economy and is home to a range of global corporations. Having an understanding of US GAAP and how it compares to IFRS is a must for financial reporting.

Perhaps you report internationally under IFRS but have operations in the USA that also need a US GAAP report. Maybe you compete with companies reporting under US GAAP and need to know how to answer difficult questions about how your IFRS report compares. You could even be an analyst needing to compare the accounts of different companies with different regimes.

This course will provide you with a detailed overview of US GAAP. You'll discover its underlying principles as well as how it compares to the IFRS framework. You’ll become familiar with the processes and standards needed to account for non-financial assets, revenue, financial instruments, and business combinations under US GAAP.

Key aspects

  • Governance arrangements
  • Financial statements
  • Industry-specific standards
  • Convergence
  • Setting the standards
  • Learning US GAAP

Accounting for non-financial assets

  • Property, plant and equipment
  • Accounting for a PPE asset
  • Depreciation rules
  • Impairment rules
  • Intangible assets
  • Research and development
  • Leasing
  • Dealing with impairment

Operating activities

  • Revenue recognition
  • Key methodology in ASC 606
  • Inventory
  • Provisions and contingencies
  • Expenditure

Financial instruments and business combinations

  • Financial instruments
  • Fair values
  • Debt and equity investments
  • Impairments and financial instruments
  • Business combinations
  • Acquisitions
  • Goodwill
  • Consolidation
  • Equity accounting

Dr Wayne Bartlett specialises in public sector financial management and budgeting and has worked as a consultant and lecturer throughout the world. After 7 years in the NHS in the UK, he joined the Home Office as Head of Accountancy Advice. He has worked closely with a number of Supreme Audit Institutions and has become an expert of the implementation of international accounting standards.

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ACCA partner with to provide high quality CPD for members. As an ACCA member, you are required to complete at least 40 relevant units of CPD each year, where one unit is equal to one hour. 21 units must be verifiable; the other 19 can be non-verifiable.

Verifiable CPD
Your course counts as verifiable CPD, if you can answer "yes" to these questions:

  1. Was the learning activity relevant to your career?
  2. Can you explain how you will apply the learning in the workplace?

You select courses that meet these criteria, and as you complete each course you get a CPD certificate so you can provide ACCA with the evidence that you undertook the learning activity.