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Apply US GAAP: Prepare & Evaluate Financial Statements

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Apply US GAAP: Prepare & Evaluate Financial Statements

This course is part of US GAAP Accounting & Financial Reporting Mastery Specialization

Instructor: EDUCBA

Included with

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2 modules

Gain insight into a topic and learn the fundamentals.

10 reviews

9 hours to complete

Flexible schedule

Learn at your own pace

2 modules

Gain insight into a topic and learn the fundamentals.

10 reviews

9 hours to complete

Flexible schedule

Learn at your own pace

What you'll learn

Apply ASC guidance to prepare and analyze core financial statements.
Interpret GAAP rules for assets, liabilities, equity, and debt.
Evaluate cash flows, credit losses, and EPS under GAAP compliance.

Skills you'll gain

Details to know

Shareable certificate

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Assessments

10 assignments

Taught in English

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Build your subject-matter expertise

This course is part of the US GAAP Accounting & Financial Reporting Mastery Specialization

When you enroll in this course, you'll also be enrolled in this Specialization.

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Gain a foundational understanding of a subject or tool
Develop job-relevant skills with hands-on projects
Earn a shareable career certificate

There are 2 modules in this course

By completing this course, learners will be able to apply ASC guidance to prepare and analyze core financial statements, including the balance sheet, income statement, cash flow statement, and earnings per share. You will interpret ASC 210–260 requirements and implement GAAP rules for assets, liabilities, equity, and debt under ASC 305–470.

Designed for professionals and students, this course emphasizes real-world applications, from classifying current and non-current assets to evaluating inventory, intangibles, deferred revenue, and credit losses under the CECL model. You will also practice distinguishing operating, investing, and financing activities in cash flow statements and reporting basic and diluted EPS. What sets this course apart is its structured coverage of the four primary financial statements combined with asset and liability accounting under one program. By mastering this material, you will gain the analytical skills to prepare, present, and evaluate financial statements in compliance with U.S. GAAP.

Module details

This module provides comprehensive coverage of the core financial statements: balance sheet, income statement, cash flow statement, and earnings per share. Learners will understand ASC guidance and practical applications for preparing and analyzing financial statements.

What's included

20 videos5 assignments

20 videosTotal 129 minutes

Primary Financial Statement4 minutes
Introduction to Accounting Standard Codification 210 BS4 minutes
Balance Sheet8 minutes
Example of Classified Balance Sheet6 minutes
Accounting Standard Codification 2158 minutes
Introduction to ASC 2258 minutes
Asc Example 22512 minutes
Introduction to ASC 2301 minute
ASC 230 Overview11 minutes
Format Example4 minutes
CFS Methods10 minutes
Direct Method of Cash Flow4 minutes
Direct and Indirect Method Activities 4 minutes
CFS Format Example6 minutes
Introduction to ASC 2601 minute
ASC 260 Overview4 minutes
Simple Capital Structure7 minutes
Weighted Average Example9 minutes
Complex Capital Structure10 minutes
EPS Example7 minutes

5 assignmentsTotal 70 minutes

Balance Sheet (ASC 210 & 215)10 minutes
Income Statement (ASC 225)10 minutes
Cash Flow Statements (ASC 230)10 minutes
Earnings Per Share (ASC 260)10 minutes
Core Financial Statements (ASC 210–260)30 minutes

This module examines accounting for assets and liabilities, including cash, receivables, investments, inventory, intangibles, and debt. Learners will master GAAP treatments for recognition, measurement, and disclosures across key asset and liability categories.

What's included

30 videos5 assignments

30 videosTotal 222 minutes

Introduction to ASC 3056 minutes
Classification of Cash and Example8 minutes
Receivables and Example10 minutes
Receivable Discount and Example10 minutes
Direct write off Example2 minutes
Allowance Method Excel Example8 minutes
Concepts and NR6 minutes
Equity Method8 minutes
Equity Accounting10 minutes
Equity Accounting Example7 minutes
Financial Intruments-Credit Losses8 minutes
Introduction to ASC 3304 minutes
Inventory Valuation Example8 minutes
Inventory Accounting 3 minutes
Inventory Accounting Example Part 114 minutes
Inventory Accounting Example Part 24 minutes
Inventory Accounting Example Part 38 minutes
Introduction to ASC 3508 minutes
Goodwill Example5 minutes
Intangibles5 minutes
Introduction to ASC 3606 minutes
Depreciation Methods10 minutes
Basic Depreciation Methods12 minutes
Disposals of PP and E7 minutes
ASC-405 Liabilities9 minutes
ASC-430 Deferred Revenue6 minutes
ASC-430 Deferred Revenue Continue7 minutes
ASC-470 Debt10 minutes
ASC-470 Debt Continue6 minutes
Troubled Debt Restructurings7 minutes

5 assignmentsTotal 70 minutes

Cash and Receivables (ASC 305)10 minutes
Investments & Credit Losses10 minutes
Inventory & Intangibles (ASC 330–360)10 minutes
Liabilities (ASC 405–470)10 minutes
Assets and Liabilities (ASC 305–470)30 minutes

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Instructor

Instructor ratings

(7 ratings)

EDUCBA

1,360 Courses301,081 learners

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EDUCBA

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Reviewed on Jan 11, 2026

Excellent learning experience for anyone looking to strengthen their knowledge of US GAAP. The explanations are concise, and real-world examples greatly enhance financial analysis skills.

Reviewed on Jan 31, 2026

Highly informative and well organized. This course improved my ability to evaluate financial statements as per US GAAP and enhanced my overall accounting and reporting skills.

Reviewed on Jan 15, 2026

Overall, a very informative and rewarding course experience.

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