US GAAP Framework and Foundations

Zobrazit stránku: Česky

Despite having a great deal of common purpose and concepts, the accounting principles in the Czech Republic and the US can lead to markedly different financial statements. If you want to understand these differences and their practical implications, you should plan to attend now. 

 

US GAAPAbout the programme

This one-day seminar provides an overview of the workings of US GAAP and highlights the significant differences between accounting principles followed in the US and in the Czech Republic, using both model financial statements and real-world examples. Sufficient time has been set aside to consider your questions.

 

Who should attend?

The seminar is aimed at those dealing with US parent or subsidiary organisations, which require an understanding of the key differences between US and Czech accounting principles.

 

Benefits of the programme

  • The seminar will give you a well-structured overview of the most relevant topics related to US GAAP, including reporting of long-term assets, revenue and receivables, inventory costing, etc. 
  • You will get the most updated information about all hot topics in this area as well as future developments in the matter of convergences between US GAAP and IFRS and the adoption of IFRS in the US
  • Our instructors are experts with practical experience from their local audit work and from their US secondments, who are also brought up-to-date on the prospects and timetable for convergence of US GAAP with IFRS

 

Details

 

The programme will cover:

 

1. Introduction to US GAAP
  • History
  • Overview related to FASB, SEC, PCAOB
  • Framework and hierarchy
  • FASB codification and SEC guidance
2. Revenue and Receivables
  • Revenue recognition
  • Interest on Receivables
3. Production costs and Inventories
  • Inventory costing
4. Property, Plant and Equipment
  • General rules – capitalisation thresholds and criteria, planned major maintenance
  • Interest capitalisation
  • Depreciation
  • Impairment of long-term assets
  • Accounting for leases
  • Asset retirement obligation
5. Future of financial reporting
  • Convergence between US GAAP and IFRS
  • Adoption of IFRS in the US
6. Hot topics  
7. Questions and Answers  

 

Dates

I'm interested
US GAAP Framework and Foundations
Date to be confirmed
Time 9 a.m. - 4.30 p.m.
Venue PwC premises, City Green Court, Hvězdova 1734/2c, Prague 4
Language Czech
CPD points You will gain 7 CPD points
This one-day seminar provides an overview of the workings of US GAAP and highlights the significant differences between accounting principles followed in the US and in the Czech Republic, using both model financial statements and real-world examples. Sufficient time has been set aside to consider your questions.
 

The Academy: Registration