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29.0 Credits

Member Price $580.00

Non-Member Price $667.00


For many accounting professionals, the challenge of navigating through the voluminous and complex Generally Accepted Accounting Principles (GAAP) documents is a significant hurdle. The extensive nature of these documents makes researching specific GAAP topics time-consuming and often overwhelming, leading to frustration and potential inaccuracies in financial reporting. Keeping up to date with the latest principles and practices can be daunting, particularly when handling complex financial situations. This course addresses these challenges by condensing the essence of GAAP into an easily navigable, single-volume course. This course simplifies GAAP, highlighting key elements of various topics and how accounting information should be disclosed. It provides a clear path through the FASB Codification source documents for additional information. The course is enriched with hundreds of practical examples, showing real-world applications of GAAP, along with sample journal entries and usage tips. As a handy reference for accountants facing tough problems, this course transforms the daunting task of understanding GAAP into a more manageable and efficient process, ensuring accurate and up to date financial reporting.


Presentation of financial statements. Balance sheet. Comprehensive income. Income statement. Statement of cash flows. Notes to financial statements. Accounting changes and error corrections. Changing prices. Earnings per share. Interim reporting. Risks and uncertainties. Segment reporting. Receivables. Debt and equity securities. Equity method and joint ventures.



Designed For

CPAs, CFOs, controllers, financial professionals, and auditors.


Cite the accounting principles that underlie Generally Accepted Accounting Principles. Specify the transactions related to discontinued operations, as well as the disclosures required for certain accounting transactions. Identify the account classifications used in the balance sheet, as well as the structure of the balance sheet. State the transactions included in and excluded from other comprehensive income. Specify the different formats in which the income statement can be presented. Cite the contents of the sections of the statement of cash flows, and the differences in presentation for the different types of statements of cash flows. Recognize the disclosures required by the Securities and Exchange Commission. Identify the situations in which accounting changes are allowed, and note the mechanics of retrospective application of changes.






Leader Bios

Steven Bragg, Western CPE

Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.

Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).

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Non-Member Price $667.00

Member Price $580.00