Both CVCA members and the finance teams of their portfolio companies require some training in US GAAP and related subjects so that they can be more prepared for the future US IPO and to be able to prepare US GAAP Financial Statements on an on-going basis. In addition, some CVCA members are from non-finance/non-banking background and may likely to enhance their understanding of US GAAP and related matters.

In this connection, CVCA and Deloitte jointly offer this training program to CVCA members and their portfolio companies.

• US GAAPIntroduction to US GAAP and revenue recognition

• Share based compensation

• Equity transaction and restructuring

• Business structure when there is a restricted business in China - FIN 46(R) and related matters

• Sarbanes Oxley fundamentals

• Tax considerations for technology companies and IPO

9:00 – 9:30

Registration 

9:30 – 12:45

Morning Session 

12:45 – 14:00

Working Lunch 

14:00 – 17:15

Afternoon Session 

Tea breaks are offered during each session

(11:00–11:15 & 15:30–15:45) 

Morning Session, March 30th

Sarbanes Oxley Fundamentals

• Background of Sarbanes Oxley Act (SOX)

• Implementation of SOX in 2005

• Lessons learnt from implementation of SOX in 2005

• Points to consider for Chinese companies to comply with SOX

• The Post SOX period – from compliance to further improvement of corporate governance and internal control

 Speakers:

  (all from Deloitte)

(In Alphabetical Order)

Luis Chein

Director, Enterprise Risk Services 

William CHOU

Partner, Audit 

Taylor LAM

Partner, Audit 

Felicia LI

Senior Manager, Audit 

Xinyan WANG

Senior Manager, Audit 

Arthur WONG

Partner, Audit 

Pauline ZHANG

Partner, Tax 

Afternoon Session, March 30th

Introduction to US GAAP

• The framework of US GAAP

• Sources of US GAAP

• General differences between US GAAP and PRC GAAP

Revenue Recognition

• Fundamentals of revenue recognition, including SAB 101

• Software accounting revenue recognition SOP 97-2

• Long term contract accounting: SOP 81-1

• Recording revenue gross vs. net: EITF 99-19

• Multiple deliverables: EITF 00-21

  Morning Session, April 6th

Share based compensation 

• Fundamentals of share based compensation

• Fair value and intrinsic value

• Vesting

• measurement

• Valuation

• Employees and non–employees

Afternoon Session, April 6th

Tax consideration

• Individual income tax planning

• Taxes related to stock options and share based compensation

• Taxes considerations related to TMT companies

Morning Session, April 13

Equity transaction and restructuring 

• Business combination and related accounting matters

• Accounting for goodwill

• Preferred shares and preferred shares with redemption feature

Afternoon Session, April 13

Business structure when there is a restricted business in China - FIN46(R) and related matters

• Restricted business in China

• Variable interest entities (VIEs)

• Criteria for VIEs

• Consolidation of VIEs

• Typical structures in China

• The presentation will be conducted primarily in Mandarin.

• 3 hours for each session, including 2 to 2.5 hours of presentation and 30 minutes to one hour of Q&A

• Total number of participants are approximately 60 for each session.

Contact: 

Miss Cindy ZHANG

E-mail : cindy@cvca.org.cn

Tel : 8610-85150829

Miss Selina ZHAO

E-mail : selina@cvca.org.cn

Tel : 8610-85150830