U.S. GAAP: The Accounting Cycle and Objectives of General Purpose Financial Statements

Instructor: Kelen Camehl, CPA, MBA

Format

Course - Online

Duration

1.5 hours

Understand the U.S. standard setters' perspective on the purpose of financial statements and review concepts for recognition and measurement, accrual versus cash-based accounting, and the accounting equation.

Learning outcomes

Recognise concepts of recognition and measurement
Contrast accrual-based accounting with cash-based accounting
Recall the accounting equation
Differentiate between debits and credits
Recognise key steps in the accounting cycle
Identify key components of an accounting information system
Identify the key steps in the closing process

£39.00 (CIMA members only)

£49.00

VAT calculated on checkout

Product information

Overview

This course will help you understand the U.S. standard setters' perspective on the purpose of financial statements and review concepts for recognition and measurement, accrual versus cash-based accounting, and the accounting equation. It also reviews accounting information systems, debits and credits, information processing, journal entries, trial balances and the closing process. This course is included in the U.S. GAAP Fundamentals for Finance Professionals Certificate.

Topics discussed:

Components of an accounting information system
Financial statements
Concepts for recognition and measurement
Accrual accounting
Cash-based accounting
The accounting equation
Debits and credits
Journal entries
Trial balances

Who should take this course?

Accounting and finance professionals who work for enterprises required to comply with U.S. GAAP or are interested in understanding U.S. accounting fundamentals.

Professional development

All learning resources available in the CGMA Store qualify for CPD for CIMA members.

Duration:	1.5 hours
Format:	Course - Online
Access:	This is a digital product. You will have access to the content for a year after purchase date.

Return and refund policy

£39.00 (CIMA members only)

£49.00

VAT calculated on checkout

Instructor

Kelen Camehl, CPA, MBA

Accessibility

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