Online GAAP Test

The Online GAAP Test helps recruiters and hiring managers evaluate a candidate's knowledge of Generally Accepted Accounting Principles. It enables organizations to streamline hiring for accounting and finance roles by validating skills in financial reporting, compliance, and accurate bookkeeping practices.

Book a demo Start your free trial

Online GAAP Test

GAAP (Generally Accepted Accounting Principles) is a collection of commonly-followed accounting rules and standards for financial reporting. The purpose of US GAAP is to ensure that financial reporting is transparent and performs consistently from one organization to another.

GAAP is often used 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.

The online GAAP test helps recruiters and hiring managers assess candidates' GAAP accounting knowledge. The GAAP online test is created & validated by experienced industry experts to assess & hire GAAP accountants per industry standards. Our powerful reporting will give you instant results and an option to share these results with your recruiting team. You can analyze the section-wise performance of the candidate to gauge their strengths and weaknesses. Features like window violation and webcam proctoring help detect cheating during the test.

Wondering what other skills we have in our World’s Largest Skills Assessment library?

Visit here

How it works

Test Summary

The GAAP assessment test helps to screen the candidates who possess the following traits:

Solid understanding of US GAAP/IFRS
Strong technical accounting knowledge in US GAA
Experience in researching complex accounting issue
Ability to prepare GAAP financial statements

The GAAP skill test may contain MCQs (Multiple Choice Questions), MAQs (Multiple Answer Questions), Fill in the Blanks, Whiteboard Questions, Audio/Video Questions, AI-LogicBox (AI-based essay evaluation), Job-based Simulations, True or False Questions, etc.

Useful for hiring

Sr. Accountant
GAAP Accountant
Staff Accountant
Investment Accountant
Audit Associate
Accounting Consultant

Test Duration

min

No. of Questions

Level of Expertise

Expert

Topics Covered

Sample Question

Choose from our 100,000+ questions library or add your own questions to make powerful custom tests.

Question type

Multiple Option

Topics covered

Financial Instruments

Difficulty

Hard

Question:

Gary Biz Ltd. is planning to issue financial instruments of equity sort in 20X9. However, the lead accountant is unsure of how to measure or present them in the financial statements, to ensure compliance with GAAP.

The accountant has asked for you to meet him to discuss the dilemma. Which of the following advice should you provide to him?

Options

To measure and present the equity instrument at amortized cost method in the financial statements.
To measure and present the equity instrument at fair value with changes in fair value recognized in net income.
To measure and present the equity instrument at a consolidated cost of all expenses.
To measure and present the equity instrument at historical cost.