Implementing a worldwide U.S. GAAP and IFRS eLearning program
When a century-old Fortune 100 company spun-off its international operations, the newly formed company realized its employees were missing critical U.S. GAAP knowledge. A GAAP gap?? Now that’s a serious issue. But with employees spread all over the world, providing instructor-led U.S. GAAP training would be quite expensive and time consuming — two issues the new entity had to overcome.
The company soon realized that U.S. GAAP eLearning training would allow it to efficiently and cost-effectively deliver the specific U.S. GAAP details its global team needed to know. It hired a well-known eLearning vendor to handle the project and expected smooth sailing. Unfortunately, this eLearning provider lacked the accounting expertise and relevant materials to quickly and effectively meet their training needs. So, the company asked its auditors to provide expertise on U.S. GAAP topics, such as revenue recognition and financial instruments.
Problem solved? Well, not quite.
Neither the eLearning provider nor the Big 4 accounting firm were able to provide the level of service the company needed. The eLearning vendor didn’t understand U.S. GAAP training for accountants and, although the Big 4 accounting firm are no doubt subject matter experts, they weren’t instructional designers, course developers, or professional educators.
With two vendors on the payroll and neither fulfilling all the roles necessary for eLearning training for accounting — and no deliverables in sight — the project was spiraling out of control. The company knew they needed someone else to help get this project back on track, so they called in GAAP Dynamics.
Luckily, we’re fluent in accounting AND training. Acting as instructional designers, content developers, and subject matter experts (SMEs), we got the project moving. Our client wanted to create a U.S. GAAP Academy that would provide functional, working knowledge of U.S. GAAP throughout the organization. Because we specifically focus on eLearning training for accounting and auditing, we didn’t have to waste time reinventing the wheel. We just had to interview company personnel and review the company’s financial information to quickly tailor the U.S. GAAP training to the company.
We worked with the eLearning vendor and accounting firm to push their eLearning training program forward. GAAP Dynamics even acted as the voice talent, recording the narration for each of the modules in our offices.
Shortly after bringing us into the project, our client deployed a full suite of U.S. GAAP eLearning training modules to their staff in over 40 countries. We’re talking 12 modules over 18 hours of training — in a matter of months, not years!
And when the company needed additional eLearning modules? It came directly to GAAP Dynamics because we have all of the necessary capabilities of producing quality eLearning in-house: instructional designers, content developers and storyboarding, producers, SMEs, and even voice talent!
In fact, we’ve continued to be involved in the company’s eLearning training program throughout the years:
- Adding nine additional IFRS eLearning training modules, including comparisons between U.S. GAAP and IFRS.
- Updating all 21 modules for new developments, comprising over 26 hours of training, re-recording the narration in our offices.
By serving as a full-service eLearning provider — including being experts in both U.S. GAAP and IFRS — we continually helped our client save time and money. But that’s not all! With each engagement, the company stays protected against regulatory scrutiny. Employees continually improve their U.S. GAAP and IFRS knowledge. And leaders sleep better at night. Keeping eLearning training moving full-steam ahead by being a full service provider – that’s GAAP Dynamics! Contact us to see how we can help your organization.