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GAAP (Generally Accepted Accounting Principles) is a collection of commonly-followed accounting rules and standards for financial reporting. The purpose of U.S GAAP is to ensure that financial reporting is transparent and is performing consistently from one organization to another. GAAP is used often by businesses reporting their financial results in the United States. It is much more rules-based than IFRS and is considered to be the more comprehensive accounting framework.
GAAP skills test evaluates a candidate's practical knowledge and will identify whether the candidate is ready to be employed.GAAP assessment test can be taken online by candidates from anywhere in the comfort of their time zone. Online GAAP test helps recruiters and hiring managers to assess candidate’s knowledge of GAAP accounting. GAAP online test is created & validated by experienced industry experts to assess & hire GAAP accountant as per the industry standards.
GAAP assessment test helps to screen the candidates who possess traits as follows:
1. Solid understanding of US GAAP/IFRS 2. Strong technical accounting knowledge in U.S. GAAP 3. Experience in researching complex accounting issues 4. Ability to prepare GAAP financial statements
Our powerful reporting will give you an instant result and an option to share this result with your recruiting team. You can analyse section wise performance of candidate to gauge his/her strengths and weaknesses. Features like window violation and webcam proctoring help detect cheating during the test.
GAAP skill test may contain MCQs (Multiple Choice Questions), MAQs (Multiple Answer Questions), Fill in the Blanks, Whiteboard Questions, Audio/Video Questions, LogicBox (AI-based essay evaluation), Job-based Simulations, True or False Questions, etc.
The test is designed considering EEOC guidelines, it will help you assess & hire diverse talent without any bias.
This Online GAAP Test is useful for hiring
Gary Biz Ltd. is planning to issue Financial Instruments of Equity sort in 20X9. However, the Lead Accountant is unsure on how to measure or present that in the Financial Statements, so it is properly in line with GAAP.
The Accountant has asked for you to meet him to discuss how to solve this. Which of the following advice should you provide to him?
Crown Ltd has different sectors or “Reporting Units” of a business. On one night, because of a fire, a particular “Reporting Unit” was heavily affected. It had different assets and different liabilities before the accident occurred. After the accident, it was determined that the segment had to go through an impairment of $80,000.
However, the directors are not sure how to do this and therefore has come to you for help. Which of the following correctly explains how the process should be carried out?
Brand Ltd is planning on discontinuing their operations and has asked you for help on how to proceed with this, especially regarding changes in the Financial Statements. They want to be in line with GAAP. Which of the following is the right process in this regard?