Call us at:- +91-9958934646
Go

Create a free profile as



Sample Certificate

international-students
gaap.jpg

Certified GAAP Professional

Indian : Rs.4129
International : $70
INTRODUCTION

Vskills certification for GAAP Professional assesses the candidate as per the company’s need for compliance to GAAP. The certification tests the candidates on various areas in balance sheet presentation, balance sheet presentation, financial instruments, GN (A)-18 and various accounting standards from AS-1 to 7 and AS-9 to 29.

WHY SHOULD ONE TAKE THIS CERTIFICATION?

This Course is intended for professionals and graduates wanting to excel in their chosen areas. It is also well suited for those who are already working and would like to take certification for further career progression. Earning Vskills GAAP Professional Certification can help candidate differentiate in today’s competitive job market, broaden their employment opportunities by displaying their advanced skills, and result in higher earning potential.

WHO WILL BENEFIT FROM TAKING THIS CERTIFICATION?

Job seekers looking to find employment in finance or compliance departments of various companies, students generally wanting to improve their skill set and make their CV stronger and existing employees looking for a better role can prove their employers the value of their skills through this certification.

COMPANIES THAT HIRE VSKILLS GAAP PROFESSIONALS

GAAP Professionals are in great demand. Companies specializing in finance, compliance or consulting are constantly hiring skilled GAAP Professionals. Various public and private companies also need GAAP Professionals for their finance or compliance departments.

CONTENT

The Conceptual Framework

  • Objectives of Financial Reporting
  • Characteristics and Limitations of a Financial Report
  • Underlying Assumptions
  • Qualitative Characteristics
  • Accounting Approach
  • Elements of Financial Statements
  • Concept of Capital and Capital Maintenance
  • Recognition of Elements of Financial Statements
  • Measurement of Elements of Financial Statements
  • Conclusions

Balance Sheet Presentation

  • Presentation of Financial Statements Under Indian GAAP
  • Balance Sheet Presentation under IAS-1
  • Balance Sheet Presentation under US GAAP
  • Comparison on Indian GAAP, IAS and US GAAP

Profit and Loss Account Presentation

  • Presentation of Income Statement under Indian
  • GAAP-Schedule VI of the Companies Act 1956
  • IAS 1-Income Statement
  • US GAAP
  • Comparison between Indian GAAP, IAS, and US GAAP

Accounting Standard-1, Disclosure of Accounting Policies

  • Indian GAAP on Disclosure of Accounting Policies
  • Disclosure of Accounting Policy under IAS
  • Disclosure of Accounting Policy under US GAAP
  • Comparison of Indian GAAP, IAS, and US GAAP

Accounting Standard-2, Valuation of Inventories

  • Accounting for Inventories under Indian GAAP
  • Accounting for Inventories under IAS-2
  • Accounting for Inventories under US GAAP
  • Comparisons for Inventories under US GAAP
  • Comparisons of Indian As-2, IAS-2, and US GAAP

Accounting, Standard-3, Cash Flow Statement

  • Cash Flow Statement under AS-3
  • Cash Flow Statement under IAS-7
  • Cash Flow Statement under US GAAP
  • Comparison between Indian GAAP, IAS and US GAAP

Accounting Standard-4, Contingencies and Events Occurring

  • Accounting for Events Occurring After the Balance Sheet Date Under AS-4
  • Comparison between Indian GAAP IAS and US GAAP

Accounting Standard-5, Net Profit or Loss for the Period

  • Presentation of Income Statement under US GAAP
  • Presentation of Income Statement under US GAAP
  • Comparison between Indian GAAP, AS and the US GAAP

Accounting Standard-6, Depreciation

  • Accounting for Depreciation Under AS-6
  • Accounting for Depreciation under IAS-16
  • Accounting for Depreciation under US GAAP
  • Comparison between Indian GAAP, IAS and US GAAP

Accounting Standard-7, Construction Contracts

  • Accounting for Construction Contracts under AS-7
  • Accounting for Construction Contracts under IAS-11
  • Accounting for Construction Contracts under US GAAP
  • Comparison between Indian GAAP, IAS and GAAP

Accounting Standard-9, Revenue Recognition

  • Accounting for Revenue under AS-9
  • Accounting for Revenue under IAS-18
  • Accounting for Revenue Under US GAAP
  • Comparison of Indian GAAP, IAS and US GAAP

Accounting Standard-10, Accounting for Fixed Assets

  • Accounting under Indian GAAP
  • Accounting for Property, Plant and Equipment under IAS-16 12.3 Accounting for Long-lived Tangible Assets under US GAAP 12.4 Comparison between Accounting
  • Principles in INDIAN
  • GAAP

Accounting Standard-11, Changes in Foreign Exchange Rates

  • Indian GAAP (AS-11)
  • Under US GAAP
  • AS-15, IAS-21 and US GAAP

Accounting Standard-12, Accounting for Government Grants

  • Accounting for Government Grants Under the Indian GAAP (AS-12) 14.2 Accounting for Government Grants, Under IAS-20
  • Accounting for Contributions, Including Government Grants Under US GAAP 14.4 Comparison between accounting principles in Indian GAAP, IAS and US GAAP

Accounting Standard-13, Accounting for Investments

  • Accounting for Investments under Indian GAAP
  • Accounting for Investments under US GAAP
  • Comparison of Accounting Principles under Indian IAS, and US GAAP

Accounting Standard-14, Accounting for Amalgamations

  • Accounting for Amalgamation under the Indian GAAP (AS-14) 16.2 Amalgamation under IFRS-3
  • Amalgamation under US GAAP (SFAS-141)
  • Comparison between Indian GAAP, IFRS, US GAAP

Accounting Standard-15, Employee Benefits

  • Accounting for Employee Benefits under AS- (Revised 2005) 17.2 Accounting for Employee Benefits under US GAAP
  • Comparison between Indian GAAP (AS-15), IAS-19 and US GAAP
  • Accounting Standard-16, Borrowing Costs
  • Accounting for Borrowing Cost in AS-16
  • Accounting for Borrowing Cost Under US GAAP
  • Comparison of Accounting Principles in AS-16, IAS-23, and US GAAP

Accounting Standard-17, Segment Reporting

  • Segment Reporting Under AS-17
  • Segment Reporting Under IAS-14
  • Segment Reporting Under US GAAP
  • Comparison of AS, IAS, and US GAAP

Accounting Standard-18, Related Party Disclosures

  • Related Party Disclosures under AS-18, Related Party Disclosures
  • Related Party Disclosures under IAS-24, Related Party Disclosures
  • Related Party Disclosures under US GAAP

Accounting Standard-19, Accounting for Leases

  • Accounting for Lease under AS-19
  • Accounting for Leases under IAS-17
  • Comparison of AS-19, IAS-17 and US GAAP

Accounting Standard-20, Earnings Per Share

  • Presentation and Calculation of EPS under AS-20
  • Presentation and Calculation of Earnings Per Share Under IAS-33 22.3 Computation and Presentation of EPS under the US GAAP
  • Comparison between the AS-20, IAS-33 and SFAS-128

Accounting Standard-21, Consolidated Financial Statements

  • Consolidation Principles under AS-21
  • Consolidation Principles Stipulated in IFRS and IAS-27
  • Consolidation under US GAAP
  • Comparison between AS-21, IAS-27, and US GAAP

Accounting Standard-22 Accounting for Taxes on Income

  • Income Taxes Under AS-22
  • Income Taxes Under IAS-12
  • Accounting for Income Taxes Under US GAAP
  • Comparison between AS-22, IAS-12 and US GAAP

Accounting Standard-23, Accounting for Investments in Associates

  • Financial Statement
  • Accounting for Investment in Associates under AS-23
  • Accounting for Investment in Associates under US GAAP
  • Comparison between AS-23, IAS-28 and US GAAP

Accounting Standard-24, Discounting Operations

  • Accounting for Discontinuing Operations under AS-
  • Accounting for between AS-24, IFRS-5 and US GAAP

Accounting Standard-25, Interim Financial Reporting

  • Interim Financial Reporting Under AS-25
  • Interim Financial Reporting Under IAS-34
  • Interim Financial Reporting Under GAAP
  • Comparison between AS-25, IAS-34 and US GAAP

Accounting Standard-26, Accounting for Intangible Assets

  • Accounting for Intangible Assets in AS-26
  • Accounting for Intangible Assets in IAS-38
  • Accounting for Intangible Assets in SFAS-142
  • Comparison between AS-, IAS- and SFAS-142

Accounting Standard-27,Financial Reporting of Interests in Joint Ventures

  • Accounting for Joint Ventures under (AS)-27
  • Accounting for Joint Venture under IAS-31
  • Accounting for Investments in Joint Ventures under US GAAP
  • Comparison between AS-27, IAS-31 and US GAAP

Accounting Standard-28, Impairment of Assets

  • Accounting for Impairment Loss under AS-28
  • Accounting for Impairment Loss under IAS-36
  • Accounting for Impairment Loss under GAAP

Accounting Standard-29,Provisions,Contingent Liabilities, and Contingent Assets

  • Accounting for Provisions, Contingent Liabilities and Contingent Assets under IAS-37, and US GAAP
  • Accounting for Provisions, Contingent Liabilities and Contingent Assets under US GAAP

GN (A)-18, Guidance Note on Accounting for Employee Share-Based Payments

  • Accounting for Employee Shared-based Payments under GN (A) 18 32.2 Accounting for Employee Shared-based Payments under US GAAP 32.3 Comparison between the Indian
  • GAAP, IFR-2 and US GAAP

Financial Instruments

  • Financial Instruments-Presentation-IAS-32
  • Financial Instruments-Disclosure-IAS-32
  • Financial Instruments-Presentation and Disclosure- Indian
  • Categories of Financial Instruments-IAS-32
  • Financial Instruments-Presentation and Disclosure-Indian Gap
  • Categories of Financial Instruments-IAS-32
  • Recognition and Derecognizing of Financial Instruments-IAS-32
  • Accounting for Collateral in a Transfer of Financial Assets
  • Derecognizing of Financial Liabilities
  • Measurement of Financial Assets and Financial Liabilities
  • Gains or Losses form a Change in the Fair Value
  • Impairment and Uncollectibility of Financial Assets
  • Accounting for Futures Contracts
  • Accounting for Futures Contracts-Indian GAAP
  • Accounting for Options
  • Accounting for Options-Indian GAAP
  • Accounting for Securitization
  • Disclosures Regarding Derivative Instruments-Indian GAAP
  • Accounting for Hedging-Indian GAAP

 

Frequently Asked Questions


What is Vskills?

VSkills is a “skills testing” and certification exam conducted by - ICSIL, A Govt of India Undertaking and Govt of NCT Delhi Company. Vskills is a testing and certification programme focused on prior learning. Through Vskills Assessments, individuals with learning acquired outside of a formal classroom setting have the opportunity to get certified by appearing in standardized exams conducted throughout the nation at proctored centres.

What is Vskills Certification?

Vskills Certification is a professional skill test that is conducted to assure that a person is qualified to perform a job. It is a proof that the candidate has the requisite skills to do a job.

What are the benefits that I will get by taking Vskills Certification Exam?

Some of the benefits that you get on taking Vskills Certification exam are listed below,-

- Develop skills that are valued by experts in the industry
- Vskills Certifications opens avenue for candidates in various sectors
- Vskills Certification provides an opportunity to get certified in areas where you are not formally educated
- Vskills Certification enhances the chances of employment
- CVs of certified candidates are flagged on Monster India website as “Vskills Certified candidates” to employers.
- CVs of certified candidates are also tagged on Shine.com website as “Vskills Certified candidates” to employers.
- CVs of all Vskills Certified candidates is shared with relevant employers for employment - Vskills Certified candidates are a part of the Job Centre for Life
- Vskills provides supplementary preparation material (hard copy or online videos) to candidate for easing the process of preparation.
- Vskills assessment exams are structured and regularly updated according to the industry standards
- Vskills Certifications do not require any time commitment since it is only a test and not classroom teaching.
- Vskills Certifications open avenues for candidates in various sectors
- Vskills Certifications provide an opportunity to get certified in areas where you are not formally educated
- Vskills Certifications greatly enhance the chances of employment

What is the duration of the course?

There is NO course duration for all certification exam. Exams are conducted on monthly basis and candidate has the flexibility to select the exam date from Exam Calender as per their per feasibility. Student can give the exam any time between 1 year from the date of enrollment.

What is the eligibility for registration?

There is no minimum qualification for taking up Vskills Certification Exam, so it is for everyone – from day to day users to senior management, say - Employees - Employers - Students - Teachers - Businessmen and Entrepreneurs - Housewives/Retired Professionals, etc

What is the duration of the exam?

Vskills Certification Exam is for one hour (1 hour) duration.

What type of questions are asked in the exam?

Vskills Certification Exam has 50 multiple choice questions (1 marks each), with no negative marking.

What is the passing percentage?

Passing percentage is 50% i.e., 25 marks need to be scored in order to clear the exam.

When is the the exam conducted?

Vskills Certification Exams are conducted on monthly basis and candidate has the flexibility to select the exam date from Exam Calender as per their per feasibility.

How many attempts can I give for a certification exam?

One exam attempt per registration with no limit on re-appearance.

Can I reschedule the exam?

Yes, candidate can re-shedule the exam till the date of exam after paying the re-schedule fees.

If I fail, what is the procedure to be followed for reappearing in the exam?

In case a candidate is unable to clear the exam then, candidate can register for exam retake by paying for registration fees of Rs. 1250/- but no reading material is sent.

Does the exam is available only in India?

Candidates residing outside India can register for specific certifications as listed under the international students by appearing in online open book exam.

Can I take two or more certification exams at one time?

Yes, candidate can take two or more exams at one time.

How tough will be the paper?

The certification exam is meant to assess the ability of the student in the particular domain and checks entry level to medium level skills in that particular domain. If you know the domain area, and have studied the accompanying material well, you will have no difficulty in passing the exam.

Do you provide any sample questions?

Practice tests are provided under every certification.

What is the duration of the certification?

There is no minimum duration of certification. You may register when you want; we suggest that minimum 30 days should be kept to go over the material provided at the time of registration.

Is the exam available for international candidates?

Yes, candidates residing outside India can follow the process for international students.

What kind of placement support is provided?

Vskills provides placement support to certified candidates as - CVs of certified candidates are flagged on Monster India website as “Vskills Certified candidates” to employers. - CVs of certified candidates are also tagged on Shine.com website as “Vskills Certified candidates” to employers. - CVs of all Vskills Certified candidates is shared with relevant employers for employment - Vskills Certified candidates are a part of the Job Centre for Life

In case I am unable to take the exam will my fees be refunded?

As a policy under no circumstances will the fees be refunded to the candidate after registration, unless there is a situation that is unavoidable.

When is the result declared?

Result indicating pass or fail is told to candidate after finishing of the exam. Hard copy certificate and performance report is sent to candidates who had cleared the exam. Soft copy certificate is also e-mailed.

Is the material provided by you sufficient from exam point of view or should I refer other sources?

The study material provided by Vskills is a guideline for your exam, but you can refer to other sources for further clarity on any topic.

Are there any classes provided by you to prepare for the exam?

Vskills does not offer classes for any certification exam. The candidates have to prepare on its own for the exam. NO CLASSES are provided by Vskills.

Do you charge extra for placement assistance?

There are no charges apart from the registration fees or exam re-take in case candidate is unable to clear the certification exam.

vskillsdlplogo.jpg

V skills

VSkills is a “skills testing” and certification exam conducted by - ICSIL, A Govt of India Undertaking and Govt of NCT Delhi Company. It is one of the largest manpower companies of the government of NCT Delhi. VSkills certifications help candidates quantify and prove their skills in a particular domain - skills that are valued by the employer and are in great demand. Your Vskills Certificate is a proof that you have the requisite knowledge and makes you job ready - which is why employers rate VSkills certifications and look for people who have them.

Hot Courses

Our Partners