US Generally Accepted Accounting Principles (US GAAP) form the foundation of financial reporting for publicly traded companies, private firms, non-profit organisations, and government entities operating within or reporting to the United States capital markets. As Indian businesses expand globally and multinational corporations scale their finance operations through GCCs, KPOs, and shared service centres, US GAAP expertise has become one of the most in-demand skills in Indian finance.
The Vskills Certified US GAAP Professional certification equips you with a thorough understanding of FASB codification, ASC standards, and financial reporting requirements — giving you a measurable edge in a competitive job market. Government-certified, lifetime valid, and recognised by leading employers, this is the most accessible and credible US GAAP credential available in India.
Why Choose Vskills US GAAP Certification?
- Government Certified — Vskills is India's largest government-certified assessment body. Your certificate carries the weight of official recognition, not just a course completion badge.
- Lifetime Validity — No renewal fees, no expiry. Certify once and carry the credential throughout your career.
- Lifelong e-Learning Access — Get unlimited access to study material that is updated as standards evolve.
- Free Practice Tests — Prepare with real exam-pattern questions at no additional cost.
- Profile Tagging — Get tagged as a Vskills Certified Professional on job portals, making your profile visible to recruiters actively hiring for US GAAP roles.
- Affordable vs. Alternatives — Achieve recognised US GAAP certification at a fraction of the cost of international programmes from EY, Coursera, or Big 4 training arms.
- Industry-Aligned Curriculum — Covers all 20 ASC modules including the latest standards — ASC 606 (Revenue), ASC 842 (Leases), and ASC 326 (CECL) — that employers actively test for in interviews.
Who Should Enrol?
This certification is designed for a wide range of finance and accounting professionals:
- Finance & Accounting Graduates looking to specialise in US GAAP reporting and stand out to MNC and Big 4 recruiters
- Chartered Accountants (CA) and CPAs seeking to add a US GAAP credential to complement their existing qualification
- Working Professionals in GCCs and KPOs who prepare or review US GAAP financial statements and want formal certification
- Audit Associates and Financial Analysts in Big 4 and mid-tier firms working on US-listed client engagements
- Shared Services and BPO Professionals handling financial close, reconciliation, or reporting for US parent entities
- Finance Managers and Controllers at Indian subsidiaries of US-headquartered companies
- MBA (Finance) Students looking to build technical credibility before entering the workforce
What you will Learn?
This course takes you through the complete FASB Accounting Standards Codification (ASC) framework — from foundational principles and financial statement presentation to advanced topics including lease accounting, credit losses, stock-based compensation, and income tax accounting. You will develop the ability to apply US GAAP rules to real-world transactions, interpret financial statements prepared under US GAAP, and understand how US GAAP differs from IFRS — a critical skill for finance professionals working in India's global finance ecosystem.
Course Table of Content
Module 1 – Financial Reporting Framework
- What are Financial Standards
- Why Financial Standards are Needed
- Objectives of Financial Reporting
- Characteristics and Limitations of a Financial Report
- Overview of IFRS
- Overview of US GAAP
- US GAAP vs. IFRS — Key Differences
Module 2 – ASC 105: GAAP History and Hierarchy
- ASC 105 Objective
- US GAAP History
- GAAP Hierarchy
- US GAAP Sources and Assumptions
- Conceptual Framework
- US GAAP Glossary
Module 3 – ASC 205: Presentation of Financial Statements
- Terminology and Materiality
- Liquidation Basis of Accounting
- General Instructions for Financial Statements
- Interim Financial Statements
- Discontinued Operations and Strategic Shift
Module 4 – ASC 210: Balance Sheet
- Current and Non-Current Assets
- Current and Non-Current Liabilities
- Stockholders' Equity
- Offsetting
Module 5 – ASC 220 & 225: Income Statement & Comprehensive Income
- Income Statement Methods and Structure
- Operating vs. Non-operating Items
- Noncash Items
- Statements of Comprehensive Income
- Unusual or Infrequent Items
- Income from Continuing Operations
Module 6 – ASC 260: Earnings Per Share
- Basic EPS
- Diluted EPS
- Antidilutive Securities
- EPS Disclosures
Module 7 – ASC 230: Statement of Cash Flows
- Cash Flow Classification
- Direct vs. Indirect Method
- Noncash Investing and Financing Activities
- Reporting Requirements
Module 8 – ASC 323: Investments – Equity Method and Joint Ventures
- Initial Recognition and Measurement
- Recognizing Investee Activity
- Investor-level Adjustments
- Presentation and Disclosure
Module 9 – ASC 326: Financial Instruments – Credit Losses (CECL)
- Assets Measured at Amortized Cost
- Measurement of Expected Credit Losses
- Subsequent Measurement
- Available-for-Sale Debt Securities
Module 10 – ASC 330: Inventory
- Inventory Basics and Valuation Methods
- FIFO, Weighted Average, and LIFO
- Absorption Costing and Retail Inventory Method
- Lower of Cost or Net Realizable Value (LCNRV)
- LCM under LIFO and Retail Method
Module 11 – ASC 350: Intangibles and Goodwill
- Recognition of Intangible Assets
- Amortization vs. Indefinite-Lived Intangibles
- Goodwill Impairment Testing (Annual)
- Research & Development Costs
Module 12 – ASC 360: Property, Plant and Equipment
- PP&E Basics and Cost Capitalization
- Asset Acquisitions
- Depreciation and Amortization
- Impairment of Long-Lived Assets
- Asset Disposal and Disclosures
Module 13 – ASC 405 & 450: Liabilities and Contingencies
- Extinguishment of Liabilities
- Prepaid Stored-Value Products
- Contingent Liabilities and Commitments (ASC 450)
- Asset Retirement Obligations (ASC 410)
- Debt Classification and Issuance Costs
Module 14 – ASC 606: Revenue from Contracts with Customers
- The 5-Step Revenue Recognition Model
- Identifying the Contract
- Performance Obligations
- Determining and Allocating Transaction Price
- Variable Consideration and Contract Modifications
- Contract Assets and Liabilities
- Revenue Recognition for Services
- Disclosures and Disaggregation of Revenue
Module 15 – ASC 718: Stock-Based Compensation
- Types of Share-Based Awards
- Measurement at Grant Date (Fair Value)
- Vesting Conditions and Expense Recognition
- Employee vs. Non-employee Awards
- Disclosures
Module 16 – ASC 740: Income Taxes
- Current vs. Deferred Tax
- Deferred Tax Assets and Liabilities
- Valuation Allowances
- Uncertain Tax Positions (ASC 740-10)
- Intraperiod Tax Allocation
Module 17 – ASC 810: Consolidation
- Non-Controlling Interest
- Variable Interest Entity (VIE) Model
- Voting Interest Model
- Partnerships and R&D Arrangements
- Deconsolidation
- Goodwill on Consolidation
Module 18 – ASC 820: Fair Value Measurement
- Definition and Scope of Fair Value
- The Level 1, 2, 3 Hierarchy
- Valuation Techniques
- Fair Value Disclosures
Module 19 – ASC 842: Leases
- Key Concepts and Scope
- Lease Classification (Operating vs. Finance)
- Lessee and Lessor Accounting
- Sale-leaseback Accounting
- Subleases and Related Party Leasing
- Business Combinations and ASC 842
Module 20 – ASC 958: Not-for-Profit Entities
- Revenues, Expenses, Gains and Losses
- Net Asset Classification
- Reclassifications
Exam and Certification Details
| Detail | Information |
|---|
| Exam Format | Online — attempt from anywhere, anytime |
| Number of Questions | 50 multiple-choice questions |
| Duration | 60 minutes |
| Passing Score | 25 out of 50 (50%) — no negative marking |
| Certificate Validity | Lifetime — no renewal required |
| e-Learning Access | Lifetime access to LMS and future content updates |
| Result | Instant — available immediately after exam completion |
| Language | English
|
Career Outcomes for Vskills Certified Professionals
India is home to one of the world's largest pools of US GAAP talent, driven by the rapid growth of Global Capability Centres (GCCs), Big 4 delivery hubs, KPOs, and shared service centres that support US-headquartered organisations. A Vskills US GAAP certification validates your technical knowledge to employers in these high-demand environments, opening doors to well-paying roles across financial reporting, audit, compliance, and FP&A functions.
| Job Role |
Experience Level |
Indicative Salary (India) |
| US GAAP Accountant / Financial Reporting Analyst |
Fresher – 3 years |
₹4 – ₹7 LPA |
| Audit Associate (US GAAP Engagements) |
1 – 4 years |
₹5 – ₹10 LPA |
| Senior Financial Reporting Analyst |
3 – 6 years |
₹7 – ₹12 LPA |
| SOX Compliance / Internal Audit Associate |
2 – 5 years |
₹6 – ₹12 LPA |
| FP&A Analyst (MNC / GCC) |
3 – 6 years |
₹8 – ₹15 LPA |
| Technical Accounting Specialist |
4 – 7 years |
₹10 – ₹18 LPA |
| Accounting Manager / Finance Controller |
7 – 12 years |
₹15 – ₹28 LPA |
| Senior Manager – Technical Accounting |
10+ years |
₹25 – ₹45 LPA |
Companies that hire US GAAP Professionals
US GAAP-skilled professionals are among the most actively recruited finance talent in India. Hiring organisations span Big 4 accounting firms, global investment banks, technology MNCs, and specialist KPO/BPO firms:
- Big 4 & Global Accounting Firms: Deloitte, EY (Ernst & Young), PwC, KPMG, Grant Thornton, BDO India
- Global Capability Centres (GCCs) & MNCs: Microsoft, Google, Amazon, Goldman Sachs, JP Morgan, Citi, Honeywell, GE, Cisco, IBM, Oracle, Accenture
-
KPO / BPO / Shared Services: Genpact, WNS Global, EXL Service, Infosys BPM, Wipro, Mphasis, Conduent, Syntel (Atos)
-
Indian IT & Conglomerates with US Listings: TCS, HCL Technologies, Tech Mahindra, Tata Group, Mahindra & Mahindra
US GAAP Practice Questions
https://www.vskills.in/practice/us-gaap-practice-questions
US GAAP Tutorials
https://www.vskills.in/certification/tutorial/certified-us-gaap-professional/
US GAAP Interview Questions
https://www.vskills.in/interview-questions/us-gaap-interview-questions-vskills
TABLE OF CONTENT
Module 1 – Financial Reporting Framework
- What are Financial Standards
- Why Financial Standards are Needed
- Objectives of Financial Reporting
- Characteristics and Limitations of a Financial Report
- Overview of IFRS
- Overview of US GAAP
- US GAAP vs. IFRS — Key Differences
Module 2 – ASC 105: GAAP History and Hierarchy
- ASC 105 Objective
- US GAAP History
- GAAP Hierarchy
- US GAAP Sources and Assumptions
- Conceptual Framework
- US GAAP Glossary
Module 3 – ASC 205: Presentation of Financial Statements
- Terminology and Materiality
- Liquidation Basis of Accounting
- General Instructions for Financial Statements
- Interim Financial Statements
- Discontinued Operations and Strategic Shift
Module 4 – ASC 210: Balance Sheet
- Current and Non-Current Assets
- Current and Non-Current Liabilities
- Stockholders' Equity
- Offsetting
Module 5 – ASC 220 & 225: Income Statement & Comprehensive Income
- Income Statement Methods and Structure
- Operating vs. Non-operating Items
- Noncash Items
- Statements of Comprehensive Income
- Unusual or Infrequent Items
- Income from Continuing Operations
Module 6 – ASC 260: Earnings Per Share
- Basic EPS
- Diluted EPS
- Antidilutive Securities
- EPS Disclosures
Module 7 – ASC 230: Statement of Cash Flows
- Cash Flow Classification
- Direct vs. Indirect Method
- Noncash Investing and Financing Activities
- Reporting Requirements
Module 8 – ASC 323: Investments – Equity Method and Joint Ventures
- Initial Recognition and Measurement
- Recognizing Investee Activity
- Investor-level Adjustments
- Presentation and Disclosure
Module 9 – ASC 326: Financial Instruments – Credit Losses (CECL)
- Assets Measured at Amortized Cost
- Measurement of Expected Credit Losses
- Subsequent Measurement
- Available-for-Sale Debt Securities
Module 10 – ASC 330: Inventory
- Inventory Basics and Valuation Methods
- FIFO, Weighted Average, and LIFO
- Absorption Costing and Retail Inventory Method
- Lower of Cost or Net Realizable Value (LCNRV)
- LCM under LIFO and Retail Method
Module 11 – ASC 350: Intangibles and Goodwill
- Recognition of Intangible Assets
- Amortization vs. Indefinite-Lived Intangibles
- Goodwill Impairment Testing (Annual)
- Research & Development Costs
Module 12 – ASC 360: Property, Plant and Equipment
- PP&E Basics and Cost Capitalization
- Asset Acquisitions
- Depreciation and Amortization
- Impairment of Long-Lived Assets
- Asset Disposal and Disclosures
Module 13 – ASC 405 & 450: Liabilities and Contingencies
- Extinguishment of Liabilities
- Prepaid Stored-Value Products
- Contingent Liabilities and Commitments (ASC 450)
- Asset Retirement Obligations (ASC 410)
- Debt Classification and Issuance Costs
Module 14 – ASC 606: Revenue from Contracts with Customers
- The 5-Step Revenue Recognition Model
- Identifying the Contract
- Performance Obligations
- Determining and Allocating Transaction Price
- Variable Consideration and Contract Modifications
- Contract Assets and Liabilities
- Revenue Recognition for Services
- Disclosures and Disaggregation of Revenue
Module 15 – ASC 718: Stock-Based Compensation
- Types of Share-Based Awards
- Measurement at Grant Date (Fair Value)
- Vesting Conditions and Expense Recognition
- Employee vs. Non-employee Awards
- Disclosures
Module 16 – ASC 740: Income Taxes
- Current vs. Deferred Tax
- Deferred Tax Assets and Liabilities
- Valuation Allowances
- Uncertain Tax Positions (ASC 740-10)
- Intraperiod Tax Allocation
Module 17 – ASC 810: Consolidation
- Non-Controlling Interest
- Variable Interest Entity (VIE) Model
- Voting Interest Model
- Partnerships and R&D Arrangements
- Deconsolidation
- Goodwill on Consolidation
Module 18 – ASC 820: Fair Value Measurement
- Definition and Scope of Fair Value
- The Level 1, 2, 3 Hierarchy
- Valuation Techniques
- Fair Value Disclosures
Module 19 – ASC 842: Leases
- Key Concepts and Scope
- Lease Classification (Operating vs. Finance)
- Lessee and Lessor Accounting
- Sale-leaseback Accounting
- Subleases and Related Party Leasing
- Business Combinations and ASC 842
Module 20 – ASC 958: Not-for-Profit Entities
- Revenues, Expenses, Gains and Losses
- Net Asset Classification
- Reclassifications
