Online
- Duration / Course length: 1 To 2 Months Start now
- Certificates:
- Course delivery: This course is delivered in video format
Course details
The Generally Accepted Accounting Principles in the US (US GAAP) refer to the accounting rules used in United States to organize, present, and report financial statements for an assortment of entities which include privately held and publicly traded companies, non-profit organizations, and governments.
Why should one take Vskills US GAAP Certification?
This course is intended for professionals and graduates wanting to excel in their chosen areas. It is also well suited for those who are already working and would like to take certification for further career progression.
Earning Vskills US GAAP Professional Certification can help candidate differentiate in today's competitive job market, broaden their employment opportunities by displaying their advanced skills, and result in higher earning potential.
Who will benefit from taking Vskills US GAAP Certification?
Job seekers looking to find employment in corporates, MNC's, companies, and students generally wanting to improve their skill set and make their CV stronger and existing employees looking for a better role can prove their employers the value of their skills through this certification.
Benefits of Certification
- Government certification
- Certification valid for life
- Lifelong e-learning access
- Learning Hours: 15+ hrs
How It Works
- Select Certification & Register
- Receive Online e-Learning Access (LMS)
- Take exam online anywhere, anytime
- Get certified & Increase Employability
- Duration: 60 minutes
- No. of questions: 50
- Maximum marks: 50, Passing marks: 25 (50%).
- There is NO negative marking in this module.
- Online exam.
TABLE OF CONTENT
Financial Standards
- What are Financial Standards
- Why financial standards are needed
- Objectives of Financial Reporting
- Characteristics and Limitations of a Financial Report
- IFRS
- GAAP
- US-GAAP
- ASC 105 Objective
- US GAAP History
- GAAP Hierarchy
- US GAAP Sources
- US GAAP Assumptions
- Generally Accepted Accounting Principles
- Conceptual Framework
- US GAAP Glossary
- Terminology
- Materiality
- Liquidation Basis of Accounting
- Qualifications and Reports of Accountants
- General Instructions as to Financial Statements
- Rules of General Application
- Interim Financial Statements
- Discontinued Operations
- Strategic Shift
- Current Assets
- Non-Current Assets
- Current Liabilities
- Non-current Liabilities
- Stockholders’ Equity
- Offsetting
- Income Statement in Brief
- Methods for Constructing the Income Statement
- Operating Revenues and Expenses
- Non-operating Revenues and Expenses
- GAAP and the Income Statement
- Noncash Items
- Statements of Comprehensive Income
- Unusual or Infrequent Items
- Schedule to File
- Income from Continuing Operations
- Cash Flow Brief
- Cash Flow Classification
- Noncash Investing and Financing Activities
- Reporting
- Revenue and Asset Changes under the Equity Method of Accounting
- Equity Method and GAAP
- Initial Recognition and Measurement
- Recognizing Investee Activity
- Investor-level Adjustments
- Presentation and Disclosure
- ASC 323 Equity Method and JV Brief
- ASC 326 Introduction
- Assets Measured at Amortized Cost
- Measurement of Expected Losses
- Subsequent Measurement of Expected Credit Losses
- Available-for-Sale Debt Securities
- Inventory Basics
- Inventory Valuation
- Absorption Costing
- Retail Inventory Method
- LIFO System
- Lower of cost or market (LCM)
- Inventory under US-GAAP in Brief
- PP&E Basics
- PPE under GAAP
- Cost Capitalization
- Asset Acquisitions
- Depreciation and Amortization
- Asset Disposal
- Disclosures
- Property, Plant and Equipment Brief
- Extinguishment of Liabilities
- Derecognition
- Prepaid Stored-Value Products
- Important Definitions
- Revenue Recognition Basics
- Identifying the Contract
- Performance Obligations
- Transaction Price
- Recognizing Revenue
- Percentage of Completion Method
- Completed Contract Method (CCM)
- Installment Method
- Cost Recovery Method
- Revenue Recognition Model
- Long Term Construction Contracts
- Services Revenue Recognition
- Revenue Recognition Brief
- Non-Controlling Interest
- Consolidation Models
- The Variable Interest Entity (VIE)
- The Voting Interest Model
- Partnerships
- Research and Development Arrangements
- Joint Venture
- ASC 842 Key Concepts
- ASC 842 Scope
- Lease Classification
- Lessee Accounting
- Lessor Accounting
- Sale-leaseback Accounting
- Leveraged Lease Accounting
- Subleases
- Business Combinations and ASC 842
- Related Party Leasing Transactions
- Leases involving Variable Interest Entities
- Revenues
- Expenses
- Gains and Losses
- Reclassifications
Eligibility / Requirements
Anyone can apply for the online certification
Job roles this course is suitable for:
Financial Analyst , Accounting Manager , Financial Reporting ManagerAbout Vskills
Vskills is the largest certification body of India. We conducts skills testing and certification exam to improve employability. The certifications are quite popular and top companies hire Vskills certified professionals.Companies have benefitted by hiring pre-certified candidates from Vskills and also use the certifications for their in house employee appraisals. Certification helps in distinguishing individuals to demonstrate their domain knowledge or skills needed for a specific profile. So a professional certification offers tangible benefits to both the individual and the employer.
Tests are conducted in a secure and unbiased manner, and certificates are awarded based on merit of the candidates who qualify tests.
Vskills certifications are for relevant qualifications that help students/employees quantify and prove those skills that are valued by the employer and are in great demand.
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