NASBA Field of Study
• Financial Accounting Standards Board’s Accounting Standards Codification (FASB’s ASC)
• U.S. GAAP Financial Statement Presentation
• Balance sheet
• Income statement
• Statement of cash flows
• Notes to financial statements
• Interim reporting
• Identify authoritative sources of generally accepted accounting principles (GAAP).
• Recognize nonauthoritative sources of GAAP.
• Identify how amendments are made to the FASB Accounting Standards Codification® (ASC).
• Differentiate between sections of FASB ASC.
• Recognize key principles prescribed by various FASB ASC topics related to financial statement presentation.
Accounting and finance professionals who work for enterprises required to comply with U.S. GAAP or are interested in understanding U.S. accounting fundamentals.