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Accounting Foundations: Understanding the GAAP (Generally Accepted Accounting Principles)

via LinkedIn Learning

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Overview

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Learn about the US GAAP, including the revenue recognition principle, and how it's foundational to the study of accounting as well as working as an accountant.

Syllabus

Introduction
  • Intro to this course
1. What Is US GAAP?
  • FASB Accounting Standards Codification
  • FASB vs. IASB and other standard-setting bodies
  • Why is understanding the US GAAP important?
2. The FASB Conceptual Framework
  • Objectives of financial reporting
  • Qualitative characteristics of useful accounting information
  • Elements of financial statements
  • Recognizing and measuring financial statement elements
  • Initial and subsequent measurement techniques
3. Common Accounting Principles and Assumptions
  • Overview of the basics
  • The accrual principle
  • The revenue recognition principle
  • The matching principle
  • A look at the US GAAP applied
Conclusion
  • A glimpse into FASB
  • The next steps of understanding the GAAP

Taught by

Denise Probert

Reviews

4.7 rating at LinkedIn Learning based on 3652 ratings

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