US GAAP is a set of accounting standards and guidelines developed by the Financial Accounting Standards Board (FASB). It is mandatory for all US companies when preparing financial statements to ensure consistency, transparency, and comparability across industries. As Global Capability Centers (GCCs) are rapidly growing in India, many US companies are outsourcing their accounting and financial reporting functions here, making proficiency in US GAAP a critical skill for finance professionals working in the country. This has led to a surge in demand for professionals who can align Indian operations with US GAAP compliance requirements.
LearninGT by Grant Thornton Bharat is pleased to offer its ‘Certificate in US GAAP’, designed to provide participants with a comprehensive understanding of US accounting standards and their practical applications. The programme also enables learners to explore the key differences between US GAAP and International Financial Reporting Standards (IFRS) and apply these concepts in real-world business scenarios. The primary focus areas include case studies, with detailed discussions on topics such as revenue, leases, business combinations, financial instruments (including hedge accounting), and share-based payments.
Learning objectives
- To understand and apply key US GAAP principles across various accounting scenarios
- To interpret and implement guidance under Accounting Standards Codification (ASC), including ASC 606 and ASC 842
- To identify and understand the differences between US GAAP and IFRS in key reporting areas
- To analyse and account for complex transactions such as business combinations and consolidations
- To apply fair value measurement principles in accordance with US GAAP
- To enhance their ability to support or lead accounting and reporting functions for US-based entities or GCCs operating in India
Who should attend?
- Finance and accounting professionals
- CAs, CPAs, CMAs, and ACCAs
- Audit and assurance professionals
- Controllers, finance managers, and CFOs
- Students pursuing finance and accounting degrees
Programme coverage
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ASC No. 105 GAAP hierarchy
- Overview of authoritative sources and structure of US GAAP
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- General principles, balance sheet, income statement, other comprehensive income (OCI), discontinued operations, and segment reporting
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ASC No. 305-360 Assets
- Cash and cash equivalents
- Investments
- Inventory
- Property, plant, and equipment
- Intangibles
- Impairments
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ASC No. 405 - 450 Liabilities and contingencies
- Recognition and measurement
- Provisions
- Asset retirement obligations
- Guarantees
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ASC No. 505 Equity
- Common stock, preferred stock, treasury stock, and dividends
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ASC No. 605 - 606 Revenue recognition
- 5-step model (ASC 606), contracts, performance obligations, variable consideration, and principal vs. agent
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ASC No. 705 - 718 Expenses and compensation
- Cost of goods sold, share-based compensation, pensions, and post-employment benefits
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ASC No. 805 Business combinations
- Acquisition method, goodwill, non-controlling interest (NCI), and step acquisitions
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ASC No. 810 Consolidations
- Variable interest entities (VIEs), equity method, control assessment, and elimination entries
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ASC No. 815 Derivatives and hedging
- Fair value hedge, cash flow hedge, and net investment hedge
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ASC No. 820 Fair value measurement
- Hierarchy, valuation techniques, and disclosure requirements
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ASC No. 830 Foreign currency transactions and translation
- Functional currency, remeasurement, translation, and adjustments
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ASC No. 835 Interest
- Interest capitalisation, imputed interest, and debt restructuring
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ASC No. 842 Leases
- Lessee vs. lessor accounting, finance vs. operating leases, and right-of-use (ROU) asset
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ASC No. 850 Related-party disclosures
- Disclosure requirements, identification, and measurement
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ASC No. 860 Transfer and servicing
- Sale vs. secured borrowing, repurchase agreements, and factoring
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ASC No. 250 Accounting changes and error corrections
- Retrospective vs. prospective application and restatements
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Key differences between IFRS and US GAAP
Programme deliverables
- 52 hours of learning content
- Extensive course material and case studies
- Quizzes and assessments
- Access to Grant Thornton Bharat’s LMS for one year
- Query resolution from an expert within 24 hours
- Certificate of completion post final assessment
Fee
Programme fee: 20,000 + GST
Cancellation and refund policy
- 50% refund for cancellations up to five days before the start date
- No refunds for cancellations within five days of the start or no-shows
- Cancellations must be emailed; participants may join future batches at no extra cost upon early request