- What are the Financial Standards?
- Why are financial standards needed?
- Objectives of Financial Reporting
- Characteristics of a Financial Report
- Limitations of a Financial Report
- IFRS
- GAAP
- US-GAAP
Online
₹ 3,499
Quick facts
particular | details | |
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Medium of instructions
English
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Mode of learning
Self study
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Mode of Delivery
Video and Text Based
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Course overview
US GAAP is the set of accounting rules and principles used in the US to prepare and present financial statements for a wide variety of entities; including publicly traded and privately held companies, non-profit organisations, and even governments. As a result, the need for a Certified US GAAP Professional is always on the rise.
The Vskills Certified US GAAP Professional online course will take candidates through several accounting standards and practices that are prevalent in the US. They will learn about GAAP history and hierarchy in detail. From balance sheet to income statement and liabilities, the US GAAP certification will cover financial standards comprehensively.
Moreover, the Certified US GAAP Professional training programme will help graduates who are just starting and seeking jobs, as well as professionals looking to up skill themselves and better career prospects. After passing the online certification exam, candidates will be certified as US GAAP professionals for life. Vskills will also mark their profiles on popular job-search platforms like Shine.com and Monsterindia.com as ‘Vskills Certified’.
The highlights
- 12 learning hours
- Government certification
- Certification will be valid for life
- Practice tests are available for free
- Lifelong access to e-learning material
- Profile marked ‘Vskills Certified’ on job portals
Program offerings
- Free practice tests
- Lifetime certification
- Government certification
- Lifelong e-learning access
- Call-back facility
- Online certification exam
Course and certificate fees
Fees information
You can pay the Certified US GAAP Professional fee via credit card, debit card, or net banking. You can also use Visa, Master, and Amex cards for the same. Debit cards from all the Indian banks are acceptable too.
Certified US GAAP Professional Fee Structure
Course | Fee |
Certified US GAAP Professional | Rs. 3,499 (+GST) |
certificate availability
certificate providing authority
Eligibility criteria
Certification Qualifying Details
To become a Certified US GAAP Professional through this US GAAP certification course, the candidates must go through the learning material and then, pass the certification exam. It is an online exam containing 50 questions. To pass, candidates must score at least 50%, that is, they must get at least 25 questions right. The exam will go on for 60 minutes, while there is no negative marking.
What you will learn
After passing the Vskills Certified US GAAP Professional syllabus, the candidates should be well-versed with the following:
- GAAP History and Hierarchy
- Presentation of Financial Statements
- Income Statement
- Balance Sheet
- Consolidation
- Statement of Cash Flow
- Liabilities
- Inventory
- Property, Plant and Equipment
- Financial Instruments (Credit Losses)
- Not-for-Profit Entities
- Investments (Joint Ventures and Equity Method)
- Revenue Recognition
Who it is for
The Certified US GAAP Professionals programme will benefit graduates who are just starting and looking for jobs in various corp orates and MNCs, as well as professionals looking to upskill themselves for a better role, to advance their careers. Some of the careers that will best suit this course are Chartered Accountant, and Accountants.
Admission details
The students need to follow the Certified US GAAP Professional classes admission procedure below:
Step 1 - Go to the official course website.
Step 2 - Click on the ‘Buy Now’ button. You will land on the checkout page.
Step 3 - Log in to your Vskills account. Create a new account if you don’t have one.
Step 4 - Provide the requisite information and follow the instructions on the screen.
Step 5 - Choose your preferred payment method and provide your payment details.
Step 6 - Confirm your order and pay.
Filling the form
Candidates paying for the Vskills Certified US GAAP Professional course online, need not fill out a separate application form. All they need to do is log in to their Vskills account or make a new account if they don’t have one already.
The syllabus
Financial Standards
GAAP History and Hierarchy (ASC 105)
- ASC 105 Objective
- US GAAP History
- GAAP Hierarchy
- US GAAP Sources
- US GAAP Assumptions
- Generally Accepted Accounting Principles
- Conceptual Framework
- US GAAP Glossary
ASC 205 - Presentation of Financial Statements
- 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
ASC 210 – Balance Sheet
- Current Assets
- Non-Current Assets
- Current Liabilities
- Non-current Liabilities
- Stockholders’ Equity
- Offsetting
ASC 225 - Income Statement
- 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
ASC 230 - Statement of Cash flow
- Cash Flow Brief
- Cash Flow Classification
- Noncash Investing and Financing Activities
- Reporting
ASC 323 - Investments - Equity Method and Joint Ventures
- 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 - Financial Instruments - Credit Losses
- ASC 326 Introduction
- Assets Measured at Amortized Cost
- Measurement of Expected Losses
- Subsequent Measurement of Expected Credit Losses
- Available-for-Sale Debt Securities
ASC 330 - Inventory
- Inventory Basics
- Inventory Valuation
- Absorption Costing
- Retail Inventory Method
- LIFO System
- Lower of cost or market (LCM)
- Inventory under US-GAAP in Brief
ASC 360 - Property, Plant and Equipment
- PP&E Basics
- PPE under GAAP
- Cost Capitalization
- Asset Acquisitions
- Depreciation and Amortization
- Asset Disposal
- Disclosures
- Property, Plant and Equipment Brief
ASC 405 - Liabilities
- Extinguishment of Liabilities
- Derecognition
- Prepaid Stored-Value Products
ASC 605 - Revenue Recognition
- 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
ASC 810 - Consolidation
- Non-Controlling Interest
- Consolidation Models
- The Variable Interest Entity (VIE)
- The Voting Interest Model
- Partnerships
- Research and Development Arrangements
- Joint Venture
ASC 958 - Not-for-Profit Entities
- Revenues
- Expenses
- Gains and Losses
- Reclassifications
Evaluation process
Candidates must appear for an online certification exam, wherein they will have 60 minutes to answer 50 questions. They must score at least 50%, that is, they must answer at least 25 questions correctly. There will be no negative marking for any wrongly answered questions.
How it helps
Upon completion, candidates will become Government-Certified US GAAP Professionals. They will retain the title for life, and their profiles on popular job search platforms like Shine.com and Monster.com will be tagged as ‘Vskills Certified’. They will also have lifetime access to the e-learning content.
The Certified US GAAP Professionals benefits the candidates by adding tremendous value to the candidate’s CV/Resume. Thereby opening numerous job opportunities for them, or helping them get a raise or a promotion in their current jobs.
FAQs
In the Certified US GAAP Professional online exam, you will have 60 minutes to answer 50 questions.
No, there is no negative marking in the Certified US GAAP Professional exam.
To pass the Certified US GAAP Professional exam, you must score at least 50%. That means, out of 50, you must answer at least 25 correctly.
In the Certified US GAAP Professional course, you will learn about accounting standards like ASC 105, ASC 205, ASC 210, ASC 225, ASC 230, ASC 323, ASC 326, ASC 330, ASC 360, ASC 405, ASC 605, ASC 810, and ASC 958 in detail.
You will never have to renew your US GAAP certification course is valid for life.