• introduction to US GAAP,

• recognition, measurement, disclosure,

• fair value,

• cash and short-term investments (basics),

• receivables: contract assets, revenue recognition (amount), examples,

• Inventory: recognition, measurement, examples, revenue recognition (timing),

• accruals,

• PP&E: recognition, measurement, useful life and depreciation,

• intangible assets: recognition, measurement, goodwill,

• leasing,

• liabilities,

• equity,

• income statement, revenue recognition (services and POC),

• impairment.

While primarily aimed at subsidiaries of American companies, the seminar is also helpful for European companies that have established, or plan to establish, a US subsidiary. Because the US does not have an accounting directive similar to the EU, businesses do not generally need to deal with GAAP until their turnover exceeds set limits or they list securities on a US exchange (assuming they do not apply the SEC’s foreign private issuer exemption). This seminar is also useful for owners of European companies contemplating a trade sale. Obviously, an EU based company is not required apply GAAP. Nevertheless, as the final price is such a sale often derived from reported financial results, it is reasonable to present those results not only in a form that a US investor will immediately understand, but also in the best light possible as allowed by GAAP. In addition to key topics such as revenue, leasing or fair value, the seminar also addresses issues such as push down accounting, goodwill, contingent liabilities and impairment. Besides discussing the guidance, the training includes hundreds of examples on how to apply the guidance in practice. Also, as working with GAAP can involve dealing with the US Securities and Exchange Commission and adhering to legislation like the Sarbanes-Oxley Act, the seminar discusses these issues. Lecturing: Robert Mládek has been teaching US GAAP at 1. Vox since 1997. He is also the managing director of a foreign-owned company and a consultant who, among other things, has helped companies prepare for trade sale. Consequently, he approaches accounting issues practically not only the person responsible for legislative compliance, but one who must deal with foreign owners or investors who do not always fully appreciate the nuances of the local business and legal environments. He received his auditing experience at KPMG in San Francisco, California, where he also graduated from the University of San Francisco.