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US GAAP Table of Contents


Table of Content
 


Financial Standards

  • What are Financial Standards
  • Why financial standards are needed
  • Objectives of Financial Reporting
  • Characteristics and Limitations of a Financial Report
  • IFRS
  • GAAP
  • US-GAAP

ASC 105 - GAAP History and Hierarchy

  • ASC 105 Objective
  • US GAAP History
  • GAAP Hierarchy
  • US GAAP Sources
  • US GAAP Assumptions
  • Generally Accepted Accounting Principles
  • Conceptual Framework
  • US GAAP Glossary

ASC 205 - Presentation of Financial Statements

  • Terminology
  • Materiality
  • Liquidation Basis of Accounting
  • Qualifications and Reports of Accountants
  • General Instructions as to Financial Statements
  • Rules of General Application
  • Interim Financial Statements
  • Discontinued Operations
  • Strategic Shift

ASC 210 – Balance Sheet

  • Current Assets
  • Non-Current Assets
  • Current Liabilities
  • Non-current Liabilities
  • Stockholders’ Equity
  • Offsetting

ASC 225 - Income Statement

  • Income Statement in Brief
  • Methods for Constructing the Income Statement
  • Operating Revenues and Expenses
  • Non-operating Revenues and Expenses
  • GAAP and the Income Statement
  • Noncash Items
  • Statements of Comprehensive Income
  • Unusual or Infrequent Items
  • Schedule to File
  • Income from Continuing Operations

ASC 230 - Statement of Cash flow

  • Cash Flow Brief
  • Cash Flow Classification
  • Noncash Investing and Financing Activities
  • Reporting

ASC 323 - Investments - Equity Method and Joint Ventures

  • Revenue and Asset Changes under the Equity Method of Accounting
  • Equity Method and GAAP
  • Initial Recognition and Measurement
  • Recognizing Investee Activity
  • Investor-level Adjustments
  • Presentation and Disclosure
  • ASC 323 Equity Method and JV Brief

ASC 326 - Financial Instruments - Credit Losses

  • ASC 326 Introduction
  • Assets Measured at Amortized Cost
  • Measurement of Expected Losses
  • Subsequent Measurement of Expected Credit Losses
  • Available-for-Sale Debt Securities

ASC 330 - Inventory

  • Inventory Basics
  • Inventory Valuation
  • Absorption Costing
  • Retail Inventory Method
  • LIFO System
  • Lower of cost or market (LCM)
  • Inventory under US-GAAP in Brief

ASC 360 - Property, Plant and Equipment

  • PP&E Basics
  • PPE under GAAP
  • Cost Capitalization
  • Asset Acquisitions
  • Depreciation and Amortization
  • Asset Disposal
  • Disclosures
  • Property, Plant and Equipment Brief

ASC 405 - Liabilities

  • Extinguishment of Liabilities
  • Derecognition
  • Prepaid Stored-Value Products

ASC 605 - Revenue Recognition

  • Important Definitions
  • Revenue Recognition Basics
  • Identifying the Contract
  • Performance Obligations
  • Transaction Price
  • Recognizing Revenue
  • Percentage of Completion Method
  • Completed Contract Method (CCM)
  • Installment Method
  • Cost Recovery Method
  • Revenue Recognition Model
  • Long Term Construction Contracts
  • Services Revenue Recognition
  • Revenue Recognition Brief

ASC 810 - Consolidation

  • Non-Controlling Interest
  • Consolidation Models
  • The Variable Interest Entity (VIE)
  • The Voting Interest Model
  • Partnerships
  • Research and Development Arrangements
  • Joint Venture

ASC 958 - Not-for-Profit Entities

  • Revenues
  • Expenses
  • Gains and Losses
  • Reclassifications


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