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

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

The Association is dedicated to removing barriers to the accountancy profession and ensuring that all accountancy professionals and other members of the public with an interest in the profession or joining the profession, including those with disabilities, have access to the profession and the Association's website, educational materials, products, and services. The Association is committed to making professional learning accessible to all. This commitment is maintained in accordance with applicable law. For additional information, please refer to the Association's Website Accessibility Policy. For accommodation requests, please contact adaaccessibility@aicpa-cima.com and indicate the product that you are interested in (title, etc.) and the requested accommodation(s): Audio/Visual/Other. A member of our team will be in contact with you promptly to make sure we meet your needs appropriately.