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

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Assessments

10 assignments

Taught in English

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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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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.

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 assignments1 plugin

20 videosTotal 128 minutes

Primary Financial Statement4 minutes
Introduction to Accounting Standard Codification 210 BS4 minutes
Balance Sheet7 minutes
Example of Classified Balance Sheet6 minutes
Accounting Standard Codification 2158 minutes
Introduction to ASC 2257 minutes
Asc Example 22511 minutes
Introduction to ASC 2301 minute
ASC 230 Overview10 minutes
Format Example3 minutes
CFS Methods10 minutes
Direct Method of Cash Flow4 minutes
Direct and Indirect Method Activities 3 minutes
CFS Format Example6 minutes
Introduction to ASC 2600 minutes
ASC 260 Overview4 minutes
Simple Capital Structure7 minutes
Weighted Average Example8 minutes
Complex Capital Structure10 minutes
EPS Example7 minutes

5 assignmentsTotal 70 minutes

Core Financial Statements (ASC 210–260)30 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

1 pluginTotal 30 minutes

Applying ASC Guidance to Core Financial Statements30 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.