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3 articles · 45 min
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GAAP Conceptual Framework for Financial Reporting
The GAAP conceptual framework is the foundation of U.S. financial reporting. Learn about qualitative characteristics, recognition criteria, measurement bases…
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Income Statement & Comprehensive Income: Structure, Components & Reporting
A complete guide to the income statement and comprehensive income under U.S. GAAP — income statement structure, OCI components, discontinued operations…
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Statement of Cash Flows: Direct Method, Indirect Method & Preparation
Learn the statement of cash flows indirect method and direct method with a complete worked example. Covers operating, investing, and financing activities…
Financial Reporting Under US GAAP
14 parts · 3 hours
Revenue Recognition Under ASC 606: The Five-Step Model
Learn how revenue recognition works under ASC 606. This guide covers the five-step model, variable consideration, performance obligations, principal vs agent…
Accounts Receivable & Bad Debt Expense: Allowance Method vs Direct Write-Off
Learn how companies estimate and record bad debt expense under GAAP using the allowance method, aging schedules, and CECL.
Inventory Valuation Methods: FIFO, LIFO & Weighted Average Under GAAP
Learn how FIFO, LIFO, and weighted average inventory valuation methods affect COGS, ending inventory, and net income under GAAP, with worked examples…
Depreciation Methods: Straight-Line, Declining Balance & Units of Production
Learn the major GAAP depreciation methods with formulas, real-world examples, and side-by-side comparison.
Asset Impairment Testing: PP&E, Intangibles & Goodwill Under ASC 350/360
Learn how to test assets for impairment under U.S. GAAP. Covers the ASC 360 two-step recoverability test for PP&E, the ASC 350 one-step goodwill impairment…
Intangible Assets & Goodwill: Recognition, Amortization & R&D Costs
A complete guide to intangible asset recognition under GAAP, the 6 categories, finite vs indefinite life classification, amortization methods, R&D cost…
Current Liabilities & Contingent Liabilities: Recognition & Measurement Under GAAP
Learn how contingent liabilities are recognized and measured under GAAP. Covers ASC 450 loss contingencies, warranty obligations, litigation contingencies…
Bond Accounting: Issuance, Premium/Discount Amortization & Effective Interest Method
Learn how to account for bonds payable from the issuer’s perspective — issuance at par, premium, and discount, the effective interest method, straight-line…
Lease Accounting Under ASC 842: Operating vs Finance Leases
Complete guide to lease accounting under ASC 842. Covers finance vs operating lease classification, ROU asset and lease liability measurement, lessee…
Stockholders Equity: Treasury Stock, Stock Dividends & Retained Earnings
Learn how to account for treasury stock (cost method vs par value method), stock dividends, and retained earnings under U.S. GAAP.
How to compute basic and diluted EPS under ASC 260 — weighted average shares, treasury stock method for options, if-converted method for convertible…
Deferred Tax Assets & Liabilities: Temporary Differences, Valuation Allowances & Tax Provision
Learn how deferred tax assets and liabilities arise from temporary differences under ASC 740, including valuation allowances, NOL carryforwards, and effective…
Pension Accounting: Defined Benefit Plans, PBO & Pension Expense Under ASC 715
Learn how employers account for defined benefit pension plans under ASC 715, including the projected benefit obligation, the five components of pension…
Investment Securities: Trading, AFS & HTM Classification Under ASC 320/321
Learn how companies classify investment securities under GAAP. Covers ASC 320 debt securities (trading, available-for-sale, held-to-maturity) and ASC 321…
More articles
6 articles · 1 hour
Break-Even Analysis Explained From Corporate Finance
Learn break even analysis with unit and revenue formulas, a worked example, price-cut effects, target operating profit, and the margin of safety for sales.
EBITDA Explained: Formula and Examples From Corporate Finance
Learn what EBITDA measures, calculate it from net income or EBIT, and understand adjusted EBITDA, margins, and why earnings differ from operating cash flow.
Sensitivity Analysis Explained From Financial Modeling
Learn sensitivity analysis with a complete profit example, tornado rankings, realistic input ranges, and decision thresholds that show which assumptions matter.
The Enron scandal explained: how accounting estimates, conflicted partnerships, and failing hedges led to bankruptcy, and what investors can learn from it.
Three Financial Statements Explained
Learn how three financial statements connect through borrowing, equipment purchases, depreciation, credit sales, retained earnings, and cash reconciliations.
Variance Analysis: Budget vs Actual From Corporate Finance
Learn variance analysis with a budget vs actual profit bridge. Separate sales volume, price, variable spending, and fixed costs using a complete worked example.
Tools for this topic
- Asset Impairment Testing CalculatorFree online calculator Excel model: Asset Impairment Testing Calculator
- Bad Debt Expense & Allowance CalculatorFree online calculator Excel model: Bad Debt Expense & Allowance Calculator
- Basic & Diluted EPS Calculator (GAAP)Free online calculator Excel model: Basic & Diluted EPS Calculator (GAAP)
- Bond Amortization Schedule CalculatorFree online calculator Excel model: Bond Amortization Schedule Calculator
- Deferred Tax CalculatorFree online calculator Excel model: Deferred Tax Calculator
- Depreciation CalculatorFree online calculator Excel model: Depreciation Calculator
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