1. Introduction

2. Legal basis of accounting in the world
a. US GAAP
b. IFRS (International Financial Reporting Standards)
c. Local balance sheet law

3. General scope of the O2C process
a. Contract/order
b. Delivery and release of goods
c. Issue an A/R invoice
d. Recognize revenue in the accounts
e. Payment
f. Cash collection

4. Billing – documenting sales
a. provisions of the balance sheet law and the VAT Act in the field of sales documentation
b. proforma invoice, VAT invoice, correcting invoice, credit notes and debits
c. electronic document flow
d. Automate the invoicing process – Electronic Data Interchange
e. Recognition of sales in accounting accounts
f. Reflect the accounts related to the sales process in the financial statements

5. US GAAP Revenue Recognition – ASC 606
a. Topic 606 – new rules for recognizing revenues in the light of international regulations
b. 5-step revenue recognition model
c. Revenue recognition at a moment and over time
d. special cases of revenue recognition, e.g. sale with the right of return, bonuses on turnover, loyalty programs
e. presentation of sales revenues in the financial statements
f. profitability analysis based on profit and loss account and balance sheet

6. Write-downs on receivables
a. The concept of write-down
b. Polish regulations – KSR 4 Impairment of assets
c. International regulations – IFRS and US GAAP
d. Tax aspects of recognition of impairment losses
e. analysis of the possibility of recognising the impairment loss as a tax-deductible cost

7. Financial Statements – the impact of O2C on the data contained in the financial statements
a. sample financial statements according to US GAAP (CBRE Form 10K)
b. Overview of the balance sheet structure and the profit and loss account
c. impact of revenue recognition on the financial statements
d. DSO – selected elements of financial analysis in the area of receivables trading and profitability

8. Discussion and conclusion

• In Polish version.

• As a closed training, exclusively for employees of your organisation or centre.