Master US GAAP: Analyze Foundations & Codification

This course is part of US GAAP Accounting & Financial Reporting Mastery Specialization

Instructor: EDUCBA

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2 modules

Gain insight into a topic and learn the fundamentals.

21 reviews

4 hours to complete

Flexible schedule

Learn at your own pace

2 modules

Gain insight into a topic and learn the fundamentals.

21 reviews

4 hours to complete

Flexible schedule

Learn at your own pace

What you'll learn

Explain US GAAP’s purpose, principles, and authority in financial reporting.
Analyze FASB’s standard-setting process and codification updates.
Apply ASC framework (ASC 105, ASC 205) to financial statement presentation.

Skills you'll gain

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Assessments

6 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 the end of this course, learners will be able to explain the purpose of US GAAP, analyze FASB’s standard-setting process, and apply the framework of the Accounting Standards Codification (ASC) to financial statement presentation. You will gain a strong foundation in the principles, objectives, and authority of US GAAP, including ASC 105 and ASC 205 guidance on presentation, comparatives, discontinued operations, and going concern.

This course is ideal for students, accountants, and finance professionals seeking a comprehensive introduction to U.S. financial reporting standards. Through structured lessons, practice quizzes, and real-world examples, you will learn to interpret the GAAP framework, navigate ASC effectively, and apply codification updates. What makes this course unique is its balance between conceptual clarity and practical application, enabling you to confidently read, understand, and use GAAP standards. Completing this course builds the foundation for advanced GAAP modules on financial statements, equity, revenue, and consolidation.

This module introduces learners to the fundamentals of U.S. Generally Accepted Accounting Principles (GAAP), including its purpose, objectives, abbreviations, and the standard-setting process by FASB. Learners will gain a strong foundation in the framework that governs financial reporting in the United States.

What's included

8 videos3 assignments

8 videosTotal 42 minutes

US GAAP Overview Part 18 minutes
US GAAP Overview Part 26 minutes
Introduction to US GAAP2 minutes
Objectives of US GAAP3 minutes
Abbreviations2 minutes
Financial Accounting Standards9 minutes
FASB Standard Setting5 minutes
FASB Standard Setting Continue6 minutes

3 assignmentsTotal 50 minutes

Foundations of US GAAP30 minutes
Understanding US GAAP Basics10 minutes
Standard Setting and Frameworks10 minutes

This module explores the Accounting Standards Codification (ASC), its framework under ASC 105, and the presentation of financial statements under ASC 205, including comparative and discontinued operations. Learners will understand how the codification simplifies GAAP and supports accurate reporting.

What's included

16 videos3 assignments

16 videosTotal 96 minutes

ASC Part 16 minutes
ASC Part 27 minutes
ASC Part 38 minutes
ASC Part 43 minutes
ASC Part 513 minutes
ASC Part 62 minutes
ASC Part 71 minute
Conclusion ASC 1055 minutes
Introduction to Accounting Standard Codification 2057 minutes
Comparative FS6 minutes
Comparative FS Example5 minutes
Discontinued FS7 minutes
Discontinued Example11 minutes
Liquidation FS6 minutes
Going Concern FS5 minutes
Primary Financial Statement4 minutes

3 assignmentsTotal 50 minutes

Accounting Standard Codification (ASC 105 & 205)30 minutes
Navigating ASC 10510 minutes
Exploring ASC 205 – Financial Statements10 minutes

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Instructor

EDUCBA

1,170 Courses277,946 learners

Offered by

EDUCBA

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Reviewed on Dec 3, 2025

This course offers a deep dive into the structure and logic behind US GAAP.

Reviewed on Dec 20, 2025

The course is on point, easy to understand and the notes provided are helpful.

Reviewed on Jan 17, 2026

A comprehensive and well-organized course that breaks down US GAAP concepts effectively.

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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.