Certified GAAP Professional

How It Works

  1. 1. Select Certification & Register
  2. 2. Receive Online e-Learning Access (LMS)
  3. 3. Take exam online anywhere, anytime
  4. 4. Get certified & Increase Employability

Test Details

  • Duration: 60 minutes
  • No. of questions: 50
  • Maximum marks: 50, Passing marks: 25 (50%).
  • There is NO negative marking in this module.
  • Online exam.

Benefits of Certification

$49.00 /-
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Vskills certification for GAAP Professional assesses the candidate as per the company’s need for compliance to GAAP. The certification tests the candidates on various areas in balance sheet presentation, balance sheet presentation, financial instruments, GN (A)-18 and various accounting standards from AS-1 to 7 and AS-9 to 29.

Why should one take this certification?

This Course is intended for professionals and graduates wanting to excel in their chosen areas. It is also well suited for those who are already working and would like to take certification for further career progression.

Earning Vskills GAAP Professional Certification can help candidate differentiate in today's competitive job market, broaden their employment opportunities by displaying their advanced skills, and result in higher earning potential. 

Who will benefit from taking this certification?

Job seekers looking to find employment in finance or compliance departments of various companies, students generally wanting to improve their skill set and make their CV stronger and existing employees looking for a better role can prove their employers the value of their skills through this certification. 

Suggested Certification

GAAP Professional Table of Contents


GAAP Professional Tutorial


GAAP Professional Sample Questions


GAAP Professional Practice Test


GAAP Interview Questions


Companies that hire GAAP Professionals

GAAP Professionals are in great demand. Companies specializing in finance, compliance or consulting are constantly hiring skilled GAAP Professionals. Various public and private companies also need GAAP Professionals for their finance or compliance departments.

GAAP Related Blogs

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GAAP Professional Jobs

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GAAP Internships

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The Conceptual Framework

  • Objectives of Financial Reporting
  • Characteristics and Limitations of a Financial Report

Accounting Standard-1, Disclosure of Accounting Policies

  • Indian GAAP on Disclosure of Accounting Policies

 Accounting Standard-2, Valuation of Inventories

  • Inventories as Assets

Accounting, Standard-3, Cash Flow Statement

  • Objective
  • Presentation of a Cash Flow Statement

Accounting Standard-4, Contingencies and Events Occurring

  • Accounting for Events Occurring After the Balance Sheet Date Under AS-4
  • Disclosure

Accounting Standard-5, Net Profit or Loss for the Period

  • Presentation of Income Statement under AS-5

Accounting Standard-6, Depreciation

  • Accounting for Depreciation Under AS-6
  • Depreciation
  • Methods of Depreciation
  • Change in Method of Depreciation

Accounting Standard-7, Construction Contracts

  • Accounting for Construction Contracts under AS-7
  • Terms Used in AS-7
  • Combining and Segmenting Construction Contracts
  • Contract Revenue
  • Contract Costs
  • Recognition of Contract Revenue and Expenses

Accounting Standard-9, Revenue Recognition

  • Accounting for Revenue under AS-9
  • Sale of Goods
  • Interest, Royalties and Dividends
  • Effect of Uncertainties on Revenue Recognition
  • Disclosure

 Accounting Standard-10, Accounting for Fixed Assets

  • Identifying Fixed Assets
  • Components of Cost
  • Self-constructed Fixed Assets
  • Non-monetary Consideration
  • Improvements and Repairs
  • Retirements and Disposals (derecognition)
  • Hire Purchases
  • Joint Ownership
  • Goodwill
  • Disclosure

Accounting Standard-11, Changes in Foreign Exchange Rates

  • AS-11
  • Classification of Foreign Operations as Integral or Non-integral
  • Change in the Classification of a Foreign Operation
  • Disclosure

Accounting Standard-12, Accounting for Government Grants

  • Accounting for Government Grants Under the Indian GAAP (AS-12)
  • Accounting Treatment of Government Grants
  • Recognition of Government Grants
  • Non-monetary Government Grants
  • Presentation of Grants Related to Revenue
  • Presentation of Grants of the nature of Promoters' contribution
  • Refund of Government Grants
  • Disclosure
  • Accounting for Investments under Indian GAAP
  • Forms of Investments
  • Cost of Investments
  • Investment Properties
  • Disposal of Investments

Accounting Standard-13, Accounting for Investments    

  • Accounting for Investments under Indian GAAP    
  • Forms of Investments    
  • Cost of Investments    
  • Investment Properties    
  • Disposal of Investments   

Accounting Standard-14, Accounting for Amalgamations

  • Accounting for Amalgamation under the Indian GAAP (AS-14)
  • Types of Amalgamations
  • Methods of Accounting for Amalgamations
  • Treatment of Reserves of the Transferor Company on Amalgamation
  • Disclosures

Accounting Standard-15, Employee Benefits

  • Accounting for Employee Benefits
  • Short-term Employee Benefits
  • Termination Benefits
  • Accounting Treatment
  • Disclosures

 Accounting Standard-16, Borrowing Costs

  • Accounting for Borrowing Cost in AS-16
  • Borrowing Costs
  • A Qualifying Asset
  • Borrowing Costs Eligible for Capitalisation
  • Commencement of Capitalisation
  • Disclosure

Accounting Standard-17, Segment Reporting

  • Segment Reporting Under AS-17
  • Accounting Standards Interpretation (ASI 22)
  • Allocation
  • Primary and Secondary Segment Reporting Formats
  • Matrix Presentation
  • Business and Geographical Segments
  • Identifying Reportable Segments (Quantitative Thresholds)
  • Segment Accounting Policies
  • Primary Reporting Format
  • Secondary Segment Information
  • Disclosures

Accounting Standard-18, Related Party Disclosures

  • Related Party Disclosures
  • Accounting Standards Interpretation (ASI)21
  • The Related Party Issue
  • Disclosure

Accounting Standard-19, Accounting for Leases

  • Accounting for Lease
  • Classification of Leases
  • Leases in the Financial Statements of Lessees
  • Leases in the Financial Statements of Lessors
  • Sale and Leaseback Transactions

Accounting Standard-20, Earnings Per Share

  • Presentation and Calculation of EPS
  • Basic Earnings per Share
  • Diluted Earnings Per Share
  • Presentation

Accounting Standard-21, Consolidated Financial Statements

  • Consolidation Principles under AS-21
  • Circumstances for Consolidated Financial Statements
  • Loss of Control
  • Consolidation Procedures
  • Cost of Control
  • Minority Interest
  • Other Points
  • Disposal of Holding
  • Disclosure

Accounting Standard-22 Accounting for Taxes on Income

  • Income Taxes Under AS-22
  • Recognition
  • Measurement
  • Review of Deferred Tax Assets
  • Disclosure
  • Relevant Accounting Standards Interpretations

Accounting Standard-23, Accounting for Investments in Associates in Consolidated

  • Accounting for Investment in Associates
  • Associates Accounted for Using the Equity Method
  • Contingencies
  • Disclosure
  • Relevant Accounting Standards Interpretations

Accounting Standard-24, Discounting Operations

  • Accounting for Discontinuing Operations under AS-24
  • Discontinuing Operation
  • Initial Disclosure Event
  • Recognition and Measurement

Accounting Standard-25, Interim Financial Reporting

  • Interim Financial Reporting
  • Selected Explanatory Notes
  • Periods for which Interim Financial Statements are required to be presented
  • Materiality
  • Disclosure in Annual Financial Statements
  • Accounting Policies
  • Revenue Received Seasonally or Occasionally
  • Accounting Standards Interpretation (ASI 27): Applicability

Accounting Standard-26, Accounting for Intangible Assets

  • Accounting for Intangible Assets in AS-26
  • Intangible Assets
  • Recognition and Initial Measurement of an Intangible Asset
  • Separate Acquisition
  • Internally Generated Intangible Assets
  • Cost of an Internally Generated Intangible Asset
  • Items to be Recognised as an Expense
  • Amortisation Period
  • Retirements and Disposals
  • Disclosure

Accounting Standard-27, Financial Reporting of Interests in Joint Ventures

  • Accounting for Joint Ventures
  • Contractual Arrangement
  • Forms of Joint Ventures
  • Consolidated Financial Statements of A Venturer
  • Transactions between a Venturer and Joint Venture
  • Disclosures

Accounting Standard-28, Impairment of Assets

  • Accounting for Impairment Loss under AS-28
  • Assessment
  • Measurement of Recoverable Amount
  • Basis for Estimates of Future Cash Flows
  • Composition of Estimates of Future Cash Flows
  • Recognition and Measurement of an Impairment Loss
  • Identification of the Cash-Generating Unit
  • Goodwill
  • Corporate Assets
  • Impairment Loss for a Cash-Generating Unit
  • Disclosure

Accounting Standard-29, Provisions, Contingent Liabilities, and Contingent Assets

  • AS-29 Provisions, Contingent Liabilities, and Contingent Assets
  • Provisions
  • Present Obligation
  • Reliable Estimate of the Obligation
  • Contingent Liabilities
  • Contingent Assets
  • Future Events
  • Expected Disposal of Assets
  • Reimbursements
  • Changes in Provisions
  • Application of the Recognition And Measurement Rules

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