Basic US GAAP course materials

The head of finance where i work has asked me to give an introduction course on US GAAP to some finance people based in Central America. At the moment they just complete the required reports but the controller wants to raise the knowledge base. Any ideas on where i could find such materials? it would be be a one day overview of US GAAP. thanks

Answers

Keith Bergman Managing Director • June 19, 2014

Before preparing the course determine what areas of accounting you want the participants to understand. For example: revenue recognition, lease contracts, derivatives and hedging, impairments, disclosures, etc. Include topics that are most important to your organization and provide examples so they can better understand.

FYI - On May 28, FASB and the IASB issued a converged standard on Revenue Recognition. This should be your starting point for the course.

Take a look at the link below as it might help.

http://www.pwc.com/us/en/cfodirect/publications/accounting-guides/index.jhtml

I'll be glad to answer any specific questions you have relating to accounting for financial instruments, derivatives and hedge accounting.

Good luck.

Wayne Spivak President & CFO • June 19, 2014

Based on some of my experiences you may need (and again depending on the type of business) is do a quick Acctg 101 course. I have found a lack of understanding on the proper way of recording inventory, capitalization (notwithstanding our new crazy capitalize everything mania), etc. (and this was some of the senior people).

In other words it may pay to make sure everyone is at some base level before you start discussing complex issues.

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Basic US GAAP course materials

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