About the program

US based companies are required to follow the US Generally Accepted Accounting Principles (US GAAP) issued by the Financial Accounting Standards Board (FASB). In this program, EY professionals and senior industry experts will share perspective on the US GAAP including Accounting Standards Codification (ASC) ASC 606 – Revenue from Contract with Customers, ASC 842 - Leases, ASC 326 – Impairment of Financial Assets, ASC 860 – Transfer and Servicing Assets and Liabilities, ASC 805 - Business Combinations and Accounting Standard Updates (ASU).

The program aims to provide understanding on the US GAAP through the EY experience, while focusing on practical challenges faced by industry and professionals in the application of these standards. The program embeds an inclusive discussion on recognition, measurement, presentation and disclosure requirements for different ASCs and ASUs.

Program objective

On completion of the program, candidates should be
able to:

  • Understand and explain the structure of the framework of the US GAAP
  • Apply relevant ASCs and ASUs to key elements of financial reporting
  • Identify and apply disclosure requirements for companies in financial reports and notes
  • Achieve a practical understanding of the key concepts and complex areas in the fields of reporting and disclosures through illustrations, case studies, examples and assessments covered in the program

Disclaimer | Terms & Conditions

  • Training programs are subject to a minimum number of participants. If a training program does not meet this criteria, then EY FAAS Learning Solution is entitled to cancel it at its discretion, without liability. In such instances, the EY FAAS Learning Solution team can offer the participants alternative options or a refund as applicable
  • Cancellation and refund policy
    A full refund less an administration fee of INR 5000 will be given for cancellation requests received up to 5 working days before the training. Cancellations must be made via emails only, before 5 working days deadline. Delegates who cancel less than 5 working days before the training, or who don’t attend, are liable to pay the full course fee, and no refunds can be given. However, if you wish to attend a subsequent scheduling of the course, and you have paid your course fee in full, the same could be done subject to availability of the seats in the subsequent batches. Replacement participants are always welcome

Program Coverage


Origin of ASC (Codification)

ASC and standards issued by Securities and Exchange Commission (SEC)


FASB Conceptual Framework

General Purpose Financial Statements

Balance Sheet

Profit and Loss Account

Statement Of Changes in Equity (SOCIE)

  ASC 230

  Statement of Cash Flows

  ASC 250

  Accounting Changes and Error Correction

  ASC 740

  Income Taxes

  ASC 360

  Property, Plant and Equipment

  ASC 350

  Goodwill and Other Intangibles

  ASC 330


  ASC 830

  Foreign Currency Matters

  ASC 805

  Business Combinations

  ASC 810

  Consolidated Financial Statements

  ASC 320

  Investment in Debt Instruments

  ASC 321

  Investment in Equity Instruments

  ASC 326

  Impairment of Financial Assets

  ASC 815

  Derivatives and Hedging

  ASC 860

  Transfer and Servicing Assets and Liabilities

  ASC 260

  Earnings Per Share

  ASC 280

  Segment Reporting

  ASC 718

  Share Based Payments

  ASC 820

  Fair Value Measurements

  ASC 606

  Revenue from Contract with Customers

  ASC 842


Course deliverables

8 Live Online Sessions of 8 Hours Each
6 month’s access to Recorded Lectures
EY Certificate of Completion post assessment
EY Presentations and Publications
Query handling through dedicated email support

Course schedule

10:30 AM to 06:30 PM (IST)

    Start date

  • Saturday, 27 February , 2021
Level : Professional
Language : English
Training Mode : Live Virtual Instructor-led Training (VILT)
Audience profile

The program is most suited for professionals and students who are working on USGAAP or intend to learn the US GAAP and include:

  • Professional accountants, company secretaries, management accountants, and other finance professionals
  • Finance managers, financial controllers, accountants
  • MBA finance professionals working in accounting domain
  • Accounting graduates

Stuti Sood

E: Stuti.sood@in.ey.com

M: + 91 9999806533