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US GAAP, ACCRUAL ACCOUNTING, FINANCIAL STATEMENT AUDIT AND AUDIT TRAIL MANAGEMENT TRAINING COURSE

Online Training Download PDF
How to Register Click View Schedule for your preferred location, select your training dates, then register as an individual, group, or online participant. You will receive an invitation letter and invoice promptly after submission.
Training Locations Kenya (Nairobi, Mombasa, Malindi, Kisumu, Nakuru, Nanyuki) · Tanzania (Dodoma, Zanzibar, Dar es Salaam) · Dubai UAE · South Africa (Pretoria, Cape Town) · Istanbul · Accra · Banjul more ▾
Groups & Payment Groups of 5+ receive one complimentary place — see group rates. Payment due at least 1 month before (Europe & Asia) or 2 weeks before (Africa programs).
Upcoming Training Schedules 14 locations
Location Duration Next Start Date Dates Available Action
Nairobi, Kenya 10 days Oct 12, 2026 91 dates
Accra, Ghana 10 days Oct 19, 2026 45 dates
Addis Ababa, Ethiopia 10 days Oct 12, 2026 46 dates
Cape Town, South Africa 10 days Nov 9, 2026 46 dates
Dar es Salaam, Tanzania 10 days Oct 26, 2026 46 dates
Dubai, UAE 10 days Oct 19, 2026 68 dates
Istanbul, Turkey 10 days Oct 12, 2026 45 dates
Kampala, Uganda 10 days Oct 19, 2026 45 dates
Kigali, Rwanda 10 days Oct 12, 2026 47 dates
Kuala Lumpur, Malaysia 10 days Oct 12, 2026 45 dates
Mombasa, Kenya 10 days Oct 19, 2026 45 dates
Pretoria, South Africa 10 days Oct 12, 2026 46 dates
Singapore 10 days Oct 19, 2026 47 dates
Zanzibar, Tanzania 10 days Oct 12, 2026 45 dates

US GAAP, ACCRUAL ACCOUNTING, FINANCIAL STATEMENT AUDIT AND AUDIT TRAIL MANAGEMENT TRAINING COURSE

This comprehensive US GAAP and Accrual Basis of Accounting Training Course is designed to strengthen participants’ practical understanding of financial reporting, accounting recognition, measurement, classification, documentation, and audit readiness. The programme covers US GAAP accounting principles and the accrual basis of accounting, with particular emphasis on revenue recognition, restricted revenues, in-kind donations, cut-off procedures, related parties, high-risk transactions, expenditures, assets, liabilities, professional skepticism, and audit trail requirements. Participants will examine how transactions should be recorded in the correct accounting period and how financial statement balances can be supported by complete, accurate, relevant, and traceable evidence.

The course provides detailed practical coverage of revenue, expenditures, assets, PP&E, intangibles, liabilities, cash management, receivables, inventory, and financial statement audit procedures. Participants will learn how to evaluate revenue recognition, restricted revenue, in-kind donations, revenue cut-off, G&A expenses, grant-related expenses, cost of goods sold, expenditure cut-off, cash ledgers, bank reconciliations, accounts receivable, bad debt, prepayments and other current assets, inventory records and inventory counts. The programme also addresses capitalization policies, work in progress, intangible assets, unearned revenue, accrued expenses, liability cut-off, and the supporting documentation required for reliable financial reporting and audit evidence.

Special attention is given to related-party transactions, high-risk transactions, professional skepticism, audit assertions, transaction testing, reconciliations, supporting schedules, account analysis, exception identification, documentation quality, and the construction of a robust audit trail. Through practical exercises and general case studies, participants will learn how auditors and finance professionals can trace transactions from source documents through journals, ledgers, reconciliations, schedules, financial statements, and management reports. The training emphasizes risk-based thinking, analytical review, completeness, occurrence, accuracy, valuation, classification, rights and obligations, cut-off, and presentation and disclosure considerations.

The programme is suitable for accountants, auditors, finance managers, financial controllers, grant accountants, project accountants, internal auditors, external auditors, compliance officers, treasury personnel, senior finance professionals, NGO and donor-funded project finance teams, and managers responsible for financial reporting and audit preparation. Participants will leave with practical tools for strengthening US GAAP accounting processes, accrual accounting controls, financial statement accuracy, reconciliation procedures, transaction documentation, audit evidence, professional skepticism, and audit trail management. The course can be customized for organizations seeking stronger financial controls, improved audit readiness, better grant financial management, and more reliable financial statements.

COURSE OBJECTIVES

1. Explain the principles of US GAAP and the application of the accrual basis of accounting to financial transactions.

2. Apply appropriate recognition, measurement, classification, presentation, and disclosure principles to major financial statement accounts.

3. Identify and evaluate related-party relationships and high-risk transactions requiring enhanced review and documentation.

4. Apply revenue recognition, restricted revenue accounting, in-kind donation accounting, and revenue cut-off procedures.

5. Analyze G&A expenses, grant-related expenses, cost of goods sold, and expenditure cut-off for proper period recognition.

6. Perform effective cash ledger reviews, bank reconciliations, accounts receivable analysis, bad-debt assessment, and current-asset reviews.

7. Strengthen inventory accounting, inventory count procedures, capitalization, work-in-progress accounting, and intangible asset controls.

8. Evaluate unearned revenue, accrued expenses, liability cut-off, and other balance-sheet obligations for completeness and accuracy.

9. Apply professional skepticism and risk-based audit thinking when reviewing financial transactions, estimates, supporting documents, and management explanations.

10. Develop and maintain a complete audit trail linking source documents, accounting records, reconciliations, schedules, financial statements, audit evidence, and conclusions.

ORGANIZATION BENEFITS

1. Improved compliance with US GAAP and accrual-basis accounting requirements.

2. More accurate revenue, expenditure, asset, liability, and financial statement reporting.

3. Stronger controls over related parties and high-risk transactions.

4. Improved revenue recognition, restricted revenue, in-kind donation, and cut-off controls.

5. Better management of cash ledgers, bank reconciliations, receivables, bad debt, prepayments, and inventory.

6. Stronger capitalization, work-in-progress, PP&E, intangible asset, and inventory accounting controls.

7. Improved completeness and accuracy of accrued expenses, unearned revenue, and other liabilities.

8. Enhanced audit readiness through better documentation, reconciliations, schedules, and audit trails.

9. Stronger professional skepticism, risk identification, exception analysis, and internal control awareness.

10. Reduced audit findings and improved confidence in financial statements, supporting evidence, and management reporting.

TARGET PARTICIPANTS

Chief Finance Officers, Finance Managers, Financial Controllers, Accountants, Senior Accountants, Project Accountants, Grant Accountants, Auditors, Internal Auditors, External Auditors, Compliance Officers, Treasury Officers, Financial Analysts, Budget Officers, Programme Finance Officers, NGO and donor-funded project finance staff, Risk Officers, and managers responsible for financial reporting, accounting controls, audit preparation, and financial statement review.

COURSE OUTLINE

MODULE 1: US GAAP AND ACCRUAL BASIS OF ACCOUNTING

• US GAAP framework and core financial reporting principles

• Accrual basis versus cash basis accounting

• Recognition, measurement, classification, presentation, and disclosure

• Accounting period, adjusting entries, estimates, and correcting entries

• Financial statement assertions and account-level risk assessment

• Documentation, supporting schedules, and accounting policy application

General Case Study: A nonprofit organization moves from cash-based reporting to accrual accounting and must identify adjusting entries required for year-end financial statements.

MODULE 2: RELATED PARTIES AND HIGH-RISK TRANSACTIONS

• Identification and documentation of related-party relationships

• Related-party transactions and disclosure considerations

• High-risk transactions and enhanced review procedures

• Conflict-of-interest indicators and management oversight

• Transaction testing, approval controls, and supporting evidence

• Risk-based documentation and escalation of unusual transactions

General Case Study: An organization purchases services from an entity connected to a senior manager and must determine the appropriate review, documentation, approval, and disclosure process.

MODULE 3: REVENUE RECOGNITION AND RESTRICTED REVENUES

• Revenue recognition principles under an accrual accounting framework

• Identifying revenue events and appropriate recognition periods

• Restricted revenues and restrictions attached to funding

• Donor and grant revenue recognition considerations

• Deferred or unearned revenue and recognition over time

• Revenue schedules, supporting documentation, and management review

General Case Study: A grant-funded organization receives funding with specific donor restrictions and must determine when and how the revenue should be recognized and presented.

MODULE 4: IN-KIND DONATIONS AND REVENUE CUT-OFF

• Recognition and documentation of in-kind donations

• Valuation and supporting evidence for donated goods and services

• Revenue cut-off principles and period-end testing

• Identifying transactions recorded in the wrong accounting period

• Subsequent receipts and post-year-end transaction review

• Cut-off testing procedures and audit documentation

General Case Study: Goods donated before year-end are recorded in the following year, requiring an assessment of recognition, valuation, documentation, and cut-off.

MODULE 5: EXPENDITURES, G&A EXPENSES AND GRANT-RELATED EXPENSES

• Classification of G&A and administrative expenses

• Grant-related expenses and project cost allocation

• Allowable, reasonable, and properly supported expenditure concepts

• Cost of goods sold recognition and reconciliation

• Expenditure cut-off and period-end testing

• Expense documentation, approvals, coding, and audit evidence

General Case Study: A development organization records several grant expenses after year-end even though goods and services were received before year-end, requiring cut-off and classification adjustments.

MODULE 6: CASH LEDGERS AND BANK RECONCILIATIONS

• Cash ledger structure and transaction recording controls

• Bank reconciliation preparation and review

• Outstanding checks, deposits in transit, and reconciling items

• Identification of unusual or unsupported cash transactions

• Cash confirmation and supporting documentation

• Period-end cash cut-off and audit procedures

General Case Study: A bank reconciliation contains several long-outstanding reconciling items, requiring investigation, correction, documentation, and management review.

MODULE 7: ACCOUNTS RECEIVABLE, BAD DEBT AND CURRENT ASSETS

• Accounts receivable recognition and aging analysis

• Receivable confirmations and supporting documentation

• Bad debt identification and allowance assessment

• Prepaids and other current assets accounting

• Reconciliation of subsidiary records to the general ledger

• Recoverability, classification, and year-end review procedures

General Case Study: An organization has several overdue receivables with uncertain recoverability and must assess the appropriate bad-debt allowance and supporting evidence.

MODULE 8: INVENTORY AND INVENTORY COUNTS

• Inventory recognition, classification, and valuation

• Inventory records and reconciliation to the general ledger

• Inventory count planning and count-sheet controls

• Observation and testing of physical inventory counts

• Inventory discrepancies, obsolete items, and adjustments

• Cut-off, completeness, and audit evidence for inventory

General Case Study: A physical inventory count differs significantly from the accounting records, requiring reconciliation, investigation of variances, and appropriate accounting adjustments.

MODULE 9: PP&E, CAPITALIZATION AND WORK IN PROGRESS

• Property, plant and equipment recognition and capitalization

• Capital expenditure versus operating expenditure

• Capitalization policies, thresholds, and supporting documentation

• Work-in-progress accounting and project cost tracking

• Depreciation, disposals, transfers, and asset registers

• PP&E reconciliation and audit evidence

General Case Study: A construction project contains costs that have been expensed and capitalized inconsistently, requiring review against the organization’s capitalization policy and supporting records.

MODULE 10: INTANGIBLES AND LIABILITIES

• Recognition and classification of intangible assets

• Supporting documentation for software, licenses, and other intangible costs

• Unearned revenue and liability recognition

• Accrued expenses and completeness of liabilities

• Liability cut-off and unrecorded liability testing

• Reconciliation, confirmations, and supporting schedules

General Case Study: An organization receives services before year-end but records the invoice in the following period, requiring an accrued-expense and liability cut-off adjustment.

MODULE 11: PROFESSIONAL SKEPTICISM AND AUDIT RISK

• Meaning and importance of professional skepticism

• Questioning evidence, assumptions, estimates, and management explanations

• Identifying inconsistencies and unusual transactions

• Risk assessment and audit response to high-risk balances

• Analytical procedures and substantive testing

• Documenting professional judgment and audit conclusions

General Case Study: Management provides an explanation for a significant unusual transaction that conflicts with supporting documents, requiring additional audit procedures and professional judgment.

MODULE 12: HOW TO ENSURE A PROPER AUDIT TRAIL

• Definition and components of an effective audit trail

• Tracing transactions from source documents to financial statements

• Completeness of invoices, receipts, approvals, journals, ledgers, and reconciliations

• Cross-referencing schedules, supporting documents, and audit evidence

• Electronic records, document retention, version control, and review trails

• Audit trail testing, exception resolution, and final audit-file readiness

General Case Study: An auditor selects a transaction from the financial statements and traces it through the general ledger, journal entry, invoice, approval, payment record, bank statement, and supporting contract to evaluate the completeness of the audit trail.

GENERAL INFORMATION

1. Customized Training: All our courses can be tailored to meet the specific needs of participants.

2. Language Proficiency: Participants should have a good command of the English language.

3. Comprehensive Learning: Our training includes well-structured presentations, practical exercises, web-based tutorials, and collaborative group work. Our facilitators are seasoned experts with over a decade of experience.

4. Certification: Upon successful completion of training, participants will receive a certificate from Foscore Development Center (FDC-K).

5. Training Locations: Training sessions are conducted at Foscore Development Center (FDC-K) centers. We also offer options for in-house and online training, customized to the client's schedule.

6. Flexible Duration: Course durations are adaptable, and content can be adjusted to fit the required number of days.

7. Onsite Training Inclusions: The course fee for onsite training covers facilitation, training materials, two coffee breaks, a buffet lunch, and a Certificate of Successful Completion. Participants are responsible for their travel expenses, airport transfers, visa applications, dinners, health/accident insurance, and personal expenses.

8. Additional Services: Accommodation, pickup services, flight booking, and visa processing arrangements are available upon request at discounted rates.

9. Equipment: Tablets and laptops can be provided to participants at an additional cost.

10. Post-Training Support: We offer one year of free consultation and coaching after the course.

11. Group Discounts: Register as a group of more than two and enjoy a discount ranging from 10% to 50%.

12. Payment Terms: Payment should be made before the commencement of the training or as mutually agreed upon, to the Foscore Development Center account. This ensures better preparation for your training.

13. Contact Us: For any inquiries, please reach out to us at training@fdc-k.org or call us at +254712260031.

14. Website: Visit our website at www.fdc-k.org for more information.

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