Overview

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One plan covers every Professional Certificate on Coursera.

Build a strong foundation in U.S. Generally Accepted Accounting Principles (US GAAP) and learn how the Accounting Standards Codification (ASC) serves as the authoritative framework for financial reporting. In this course, you will explore the purpose and objectives of US GAAP, examine the Financial Accounting Standards Board (FASB) standard-setting process, and understand how accounting standards are developed and applied. You will also learn to navigate ASC 105 as the single source of authoritative US GAAP and apply ASC 205 guidance to financial statement presentation, including comparative financial statements, discontinued operations, and going concern considerations. Designed for students, accountants, and finance professionals, this course combines clear explanations with practical examples and practice quizzes to help you confidently interpret the US GAAP framework and use the Accounting Standards Codification effectively. Rather than focusing only on theory, the course emphasizes understanding the structure and authority of US GAAP while demonstrating how codification supports consistent and reliable financial reporting. By the end of the course, you will be prepared to analyze foundational GAAP concepts and build the knowledge needed for more advanced study of U.S. financial reporting standards.

Syllabus

Foundations of US GAAP

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.

Accounting Standard Codification (ASC 105 & 205)

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.