Module 1. Financial Accounting Refresher

• Accounting Equation and Double-Entry Bookkeeping
• Accrual vs. Cash Basis ofAccounting
• Recap of the Accounting Cycle

Module 2. Financial Reporting Framework & Objectives

• 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 3. ASC 105: GAAP Codification, Hierarchy & Research Skills

• ASC 105 Objective
• US GAAP History
• GAAP Hierarchy
• US GAAP Sources and Assumptions
• Conceptual Framework
• Navigating the FASB Codification (practical research skills)
• US GAAP Glossary

Module 4. ASC 205: Presentation of Financial Statements

• Terminology and Materiality
• Liquidation Basis ofAccounting
• General Instructions for Financial Statements
• Interim Financial Statements
• Discontinued Operations and Strategic Shift

Module 5. ASC 210: The Balance Sheet

• Current and Non-Current Assets
• Current and Non-Current Liabilities
• Stockholders' Equity (overview — full treatment in Module 15)
• Offsetting

Module 6. ASC 220/225/260:Income Statement, Comprehensive Income & EPS

• Income Statement Methods and Structure
• Operating vs. Non-operating Items
• Noncash Items
• Statements of Comprehensive Income
• Unusual or Infrequent Items
• Income from Continuing Operations
• Basic EPS / Diluted EPS / Antidilutive Securities / EPS Disclosures
• 2026 note: ASU 2025-12 clarifies diluted EPS calculation during loss periods

Module 7. ASC 230/280: Statement of Cash Flows & Segment Reporting

• Cash Flow Classification
• Direct vs. Indirect Method
• Noncash Investing and Financing Activities
• Reporting Requirements
• Identifying Operating Segments
• Aggregation Criteria and Reportable Segment Thresholds
• Segment Disclosures

Module 8. ASC 250/855: Accounting Changes, Errors & Subsequent Events

• Change in Accounting Principle
• Change in Accounting Estimate
• Correction of an Error (Restatement) — Retrospective vs. Prospective Application
• Recognized vs. Non-recognized Subsequent Events
• Disclosure Requirements

Module 9. 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)

Module 10. ASC 350/360: Long-Lived Assets — PP&E, Intangibles & Goodwill

• PP&E Basics and Cost Capitalization
• Asset Acquisitions
• Depreciation and Amortization
• Impairment of Long-Lived Assets
• Asset Disposal and Disclosures
• Recognition of Intangible Assets
• Amortization vs. Indefinite-Lived Intangibles
• Goodwill Impairment Testing (Annual)
• Research & Development Costs
• 2026 note: intangible asset treatment for crypto/digital assets (ASC 350-60, ASU 2023-08)

Module 11. ASC 320/321/323:Investments — Debt, Equity Securities & Equity Method

• Debt Securities: Trading / Available-for-Sale / Held-to-Maturity Classification
• Equity Securities at Fair Value — OCI vs. Net Income treatment
• Equity Method Investments — Initial Recognition and Measurement
• Recognizing Investee Activity / Investor-level Adjustments
• Presentation and Disclosure

Module 12. ASC 326: Credit Losses (CECL)

• Assets Measured at Amortized Cost
• Measurement of Expected Credit Losses
• Subsequent Measurement
• 2026 note: ASU 2025-05 adds a practical expedient for receivables and contract assets

Module 13. ASC 405/410/450: Liabilities, Contingencies & Asset Retirement Obligations

• Extinguishment of Liabilities
• Prepaid Stored-Value Products
• Contingent Liabilities and Commitments (ASC 450)
• Asset Retirement Obligations (ASC 410)

Module 14. ASC 470/480: Debt and Liability-vs-Equity Classification

• Debt Classification (Current vs. Long-Term)
• Debt Issuance Costs
• Convertible Debt
• Debt Modifications and Extinguishments
• Mandatorily Redeemable Financial Instruments
• Liability vs. Equity Classification for Variable Share Settlement
• 2026 note: new guidance on induced conversions of convertible debt, effective periods after Dec 15, 2026

Module 15. ASC 505: Stockholders' Equity

• Common and Preferred Stock
• Treasury Stock
• Dividends (Cash, Stock, Property)
• Stock Splits and Spin-offs
• Additional Paid-in Capital
• 2026 note: ASU 2026-01 clarifies initial measurement of paid-in-kind (PIK) dividends

Module 16. 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
• Principal vs. Agent Considerations
• Revenue Recognition for Services
• Disclosures and Disaggregation of Revenue

Module 17. ASC 718/715: Employee Compensation & Benefits

• Types of Share-Based Awards
• Measurement at Grant Date (Fair Value)
• Vesting Conditions and Expense Recognition
• Employee vs. Non-employee Awards / Disclosures
• Defined Benefit vs. Defined Contribution Plans
• Net Periodic Benefit Cost
• Postretirement Benefits Other Than Pensions

Module 18. ASC 740:Income Taxes

• Current vs. Deferred Tax
• Deferred Tax Assets and Liabilities
• Valuation Allowances
• Uncertain Tax Positions (ASC 740-10)
• Intraperiod Tax Allocation
• 2026 note: ASU 2023-09 expanded rate-reconciliation and income tax disclosures, now in effect for public companies

Module 19. ASC 805: Business Combinations

• Identifying the Acquirer
• Acquisition Method
• Recognizing and Measuring Goodwill
• Non-controlling Interest at Acquisition
• Step Acquisitions and Measurement Period Adjustments

Module 20. ASC 810: Consolidation

• Non-Controlling Interest
• Variable Interest Entity (VIE) Model
• Voting Interest Model
• Partnerships and R&D Arrangements
• Deconsolidation
• Goodwill on Consolidation

Module 21. ASC 820: Fair Value Measurement

• Definition and Scope of Fair Value
• The Level 1, 2, 3 Hierarchy
• Valuation Techniques
• Fair Value Disclosures

Module 22. ASC 815: Derivatives and Hedging

• Identifying Embedded Derivatives
• Fair Value, Cash Flow, and Net Investment Hedges
• Hedge Effectiveness and Documentation
• Disclosures

Module 23. 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 24. ASC 958/830/850: Not-for-Profit, Foreign Currency & Related Party Reporting

• Revenues, Expenses, Gains and Losses (NFP)
• Net Asset Classification / Reclassifications
• Functional Currency Determination
• Remeasurement vs. Translation
• Cumulative Translation Adjustment
• Identifying Related Parties and Disclosure Requirements

Module 25. Recent Developments in US GAAP

• Recently Issued ASUs and Effective Dates
• Emerging Areas (Crypto Assets, Software Costs)
• Staying Current — FASB Monitoring Practices

Module 26. Applied Capstone: Build a Full Financial Statement Set

• Preparing a Full Set of Financial Statements
• Applying Multiple ASC Topics in One Scenario
• Disclosure Checklist Walkthrough

Apply for Certification

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