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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 Coursera Plus

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2 modules

Gain insight into a topic and learn the fundamentals.

8 hours to complete

Flexible schedule

Learn at your own pace

2 modules

Gain insight into a topic and learn the fundamentals.

8 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

Details to know

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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

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

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

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.

What's included

30 videos5 assignments

30 videosTotal 223 minutes

Introduction to ASC 3057 minutes
Classification of Cash and Example8 minutes
Receivables and Example9 minutes
Receivable Discount and Example9 minutes
Direct write off Example2 minutes
Allowance Method Excel Example8 minutes
Concepts and NR6 minutes
Equity Method7 minutes
Equity Accounting9 minutes
Equity Accounting Example7 minutes
Financial Intruments-Credit Losses8 minutes
Introduction to ASC 3304 minutes
Inventory Valuation Example8 minutes
Inventory Accounting 3 minutes
Inventory Accounting Example Part 113 minutes
Inventory Accounting Example Part 23 minutes
Inventory Accounting Example Part 38 minutes
Introduction to ASC 3507 minutes
Goodwill Example4 minutes
Intangibles5 minutes
Introduction to ASC 3606 minutes
Depreciation Methods10 minutes
Basic Depreciation Methods12 minutes
Disposals of PP and E7 minutes
ASC-405 Liabilities8 minutes
ASC-430 Deferred Revenue5 minutes
ASC-430 Deferred Revenue Continue6 minutes
ASC-470 Debt9 minutes
ASC-470 Debt Continue5 minutes
Troubled Debt Restructurings7 minutes

5 assignmentsTotal 70 minutes

Cash and Receivables (ASC 305)10 minutes
Investments & Credit Losses10 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

EDUCBA

341 Courses113,215 learners

Offered by

EDUCBA

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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.

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