By the end of this course, learners will be able to explain the purpose of US GAAP, analyze FASB’s standard-setting process, and apply the framework of the Accounting Standards Codification (ASC) to financial statement presentation. You will gain a strong foundation in the principles, objectives, and authority of US GAAP, including ASC 105 and ASC 205 guidance on presentation, comparatives, discontinued operations, and going concern.
Master US GAAP: Analyze Foundations & Codification
Master US GAAP: Analyze Foundations & Codification
This course is part of US GAAP Accounting & Financial Reporting Mastery Specialization
Instructor: EDUCBA
Included with 
Gain insight into a topic and learn the fundamentals.
4 hours to complete
Flexible schedule
Learn at your own pace
What you'll learn
Explain US GAAP’s purpose, principles, and authority in financial reporting.
Analyze FASB’s standard-setting process and codification updates.
Apply ASC framework (ASC 105, ASC 205) to financial statement presentation.
Skills you'll gain
Details to know
Shareable certificate
Add to your LinkedIn profile
Recently updated!
September 2025
Assessments
6 assignments
Taught in English
See how employees at top companies are mastering in-demand skills
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.
- Learn new concepts from industry experts
- 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
This module introduces learners to the fundamentals of U.S. Generally Accepted Accounting Principles (GAAP), including its purpose, objectives, abbreviations, and the standard-setting process by FASB. Learners will gain a strong foundation in the framework that governs financial reporting in the United States.
What's included
8 videos3 assignments1 plugin
This module explores the Accounting Standards Codification (ASC), its framework under ASC 105, and the presentation of financial statements under ASC 205, including comparative and discontinued operations. Learners will understand how the codification simplifies GAAP and supports accurate reporting.
What's included
15 videos3 assignments
Earn a career certificate
Add this credential to your LinkedIn profile, resume, or CV. Share it on social media and in your performance review.
Explore more from Finance
Status: Free TrialCorporate Finance Institute
Status: Free TrialUniversity of Illinois Urbana-Champaign
Status: Free TrialCoursera Instructor Network
- Status: Free Trial
Corporate Finance Institute
Why people choose Coursera for their career
Felipe M.
Learner since 2018
"To be able to take courses at my own pace and rhythm has been an amazing experience. I can learn whenever it fits my schedule and mood."
Jennifer J.
Learner since 2020
"I directly applied the concepts and skills I learned from my courses to an exciting new project at work."
Larry W.
Learner since 2021
"When I need courses on topics that my university doesn't offer, Coursera is one of the best places to go."
Chaitanya A.
"Learning isn't just about being better at your job: it's so much more than that. Coursera allows me to learn without limits."
Open new doors with Coursera Plus
Unlimited access to 10,000+ world-class courses, hands-on projects, and job-ready certificate programs - all included in your subscription
Advance your career with an online degree
Earn a degree from world-class universities - 100% online
Join over 3,400 global companies that choose Coursera for Business
Upskill your employees to excel in the digital economy
Frequently asked questions
To access the course materials, assignments and to earn a Certificate, you will need to purchase the Certificate experience when you enroll in a course. You can try a Free Trial instead, or apply for Financial Aid. The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.
When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile.
If you subscribed, you get a 7-day free trial during which you can cancel at no penalty. After that, we don’t give refunds, but you can cancel your subscription at any time. See our full refund policy.
More questions
Financial aid available,