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

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Shareable certificate

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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 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

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 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

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
Assets and Liabilities (ASC 305–470) 30 minutes

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Instructor

Instructor ratings

(7 ratings)

EDUCBA

1,050 Courses 252,287 learners

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EDUCBA

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Reviewed on Jan 18, 2026

Excellent course, easy to learn and informative course

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.

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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.

Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.