Financial reports are needed for tasks such as raising capital, initial public offerings (IPOs), transactions such as mergers or acquisitions, applying for lines of credit (LOC), and even the latest events such as qualifying for the recent stimulus loans, grants, and loan forgiveness.įor both inward and outward-facing purposes, a standardized, comparable accounting method helps maintain consistency month to month and allows the performance of the company to be compared with the performance of others. While financial reporting is essential for internal management for measuring and analyzing operations, assets, financial obligations, and success, it is also important for stakeholders outside the company. It records and presents information about the company’s financial position, revenues, expenses, and related disclosures. Review our cookie policy for more information.Generally Accepted Accounting Priciples (GAAP)įinancial reporting is an important part of business that communicates the financial performance and results of a company. You may withdraw your consent to cookies at any time once you have entered the website through a link in the privacy policy, which you can find at the bottom of each page on the website. We have detected that Do Not Track/Global Privacy Control is enabled in your browser as a result, Marketing/Targeting cookies, which are set by third parties with whom we execute marketing campaigns and allow us to provide you with content relevant to you, are automatically disabled. , and Marketing/Targeting cookies, which are set by third parties with whom we execute marketing campaigns and allow us to provide you with content relevant to you. remember settings), and Performance cookies to measure the website's performance and improve your experience. In addition to cookies that are strictly necessary to operate this website, we use the following types of cookies to improve your experience and our services: Functional cookies to enhance your experience (e.g. Please refer to your advisors for specific advice. This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. For more information about our organization, please visit ey.com. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.ĮY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. INR 12,000 plus taxes for Indian participantsĮY | Assurance | Consulting | Strategy and Transactions | TaxĮY is a global leader in assurance, consulting, strategy and transactions, and tax services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over.All participants who meet the above criteria would be awarded a certificate of completion.Participants need to achieve a minimum score of 50% to pass the exam.MBA finance professionals working in accounting domainĮY will award ‘Certificate of Completion’ to participants at the end of the program.Finance managers, financial controllers, accountants.Professional accountants, company secretaries, management accountants, and other finance professionals.The program embeds an inclusive discussion on recognition, measurement, presentation and disclosure requirements for different ASCs and ASUs. 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. 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 (ASUs). US-based companies are required to follow the US Generally Accepted Accounting Principles (US GAAP) issued by the Financial Accounting Standards Board (FASB).
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