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
Included with
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.
Details to know
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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 assignments
20 videos•Total 129 minutes
- Primary Financial Statement•4 minutes
- Introduction to Accounting Standard Codification 210 BS•4 minutes
- Balance Sheet•8 minutes
- Example of Classified Balance Sheet•6 minutes
- Accounting Standard Codification 215•8 minutes
- Introduction to ASC 225•8 minutes
- Asc Example 225•12 minutes
- Introduction to ASC 230•1 minute
- ASC 230 Overview•11 minutes
- Format Example•4 minutes
- CFS Methods•10 minutes
- Direct Method of Cash Flow•4 minutes
- Direct and Indirect Method Activities •4 minutes
- CFS Format Example•6 minutes
- Introduction to ASC 260•1 minute
- ASC 260 Overview•4 minutes
- Simple Capital Structure•7 minutes
- Weighted Average Example•9 minutes
- Complex Capital Structure•10 minutes
- EPS Example•7 minutes
5 assignments•Total 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
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 videos•Total 222 minutes
- Introduction to ASC 305•6 minutes
- Classification of Cash and Example•8 minutes
- Receivables and Example•10 minutes
- Receivable Discount and Example•10 minutes
- Direct write off Example•2 minutes
- Allowance Method Excel Example•8 minutes
- Concepts and NR•6 minutes
- Equity Method•8 minutes
- Equity Accounting•10 minutes
- Equity Accounting Example•7 minutes
- Financial Intruments-Credit Losses•8 minutes
- Introduction to ASC 330•4 minutes
- Inventory Valuation Example•8 minutes
- Inventory Accounting •3 minutes
- Inventory Accounting Example Part 1•14 minutes
- Inventory Accounting Example Part 2•4 minutes
- Inventory Accounting Example Part 3•8 minutes
- Introduction to ASC 350•8 minutes
- Goodwill Example•5 minutes
- Intangibles•5 minutes
- Introduction to ASC 360•6 minutes
- Depreciation Methods•10 minutes
- Basic Depreciation Methods•12 minutes
- Disposals of PP and E•7 minutes
- ASC-405 Liabilities•9 minutes
- ASC-430 Deferred Revenue•6 minutes
- ASC-430 Deferred Revenue Continue•7 minutes
- ASC-470 Debt•10 minutes
- ASC-470 Debt Continue•6 minutes
- Troubled Debt Restructurings•7 minutes
5 assignments•Total 70 minutes
- Assets and Liabilities (ASC 305–470)•30 minutes
- Cash and Receivables (ASC 305)•10 minutes
- Investments & Credit Losses•10 minutes
- Inventory & Intangibles (ASC 330–360)•10 minutes
- Liabilities (ASC 405–470)•10 minutes
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Reviewed on Jan 15, 2026
Overall, a very informative and rewarding course experience.
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 18, 2026
Excellent course, easy to learn and informative course
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