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Learning path

Accounting & Compliance learning path: everything to study, topic by topic

Comprehensive accounting and compliance assessment covering accounting standards, financial close, internal controls, audit and SOX, tax and regulatory, and accounting leadership.

Short answer

To learn Accounting & Compliance, work through 7 modules and 25 topics in the order they build on each other. It starts with Accounting Standards, then moves on to Financial Close and Internal Controls. Use the map as a checklist, or measure your level and study only what is missing.

7
modules
25
topics
50
min to assess

What you will study

Topics are grouped by module. Open one to see its objectives and key concepts.

1 · Accounting Standards4 topics
  • GAAP Fundamentals

    US GAAP principles, accrual basis accounting, matching principle, and financial statement presentation

    Objectives

    • Apply core GAAP principles to accounting transactions
    • Identify proper financial statement classification

    Key concepts

    • accrual basis
    • matching principle
    • going concern
    • materiality
    • consistency principle
    • full disclosure
  • IFRS vs GAAP Differences

    Key differences between IFRS and US GAAP in inventory, revenue, leases, and financial instrument reporting

    Objectives

    • Identify key GAAP-to-IFRS differences for common transactions
    • Evaluate reporting impact of a standards conversion

    Key concepts

    • LIFO prohibition
    • IFRS 15
    • IFRS 16
    • IAS 36
    • fair value hierarchy
    • principles-based
  • Revenue Recognition (ASC 606)

    Five-step revenue recognition model under ASC 606, contract modifications, variable consideration, and performance obligations

    Objectives

    • Apply the ASC 606 five-step model to complex contracts
    • Determine standalone selling price and allocate transaction price

    Key concepts

    • five-step model
    • performance obligations
    • transaction price
    • variable consideration
    • contract modifications
    • SSP
  • Lease Accounting (ASC 842)

    Operating vs finance lease classification, right-of-use asset recognition, and lease modification accounting under ASC 842

    Objectives

    • Classify leases and record initial recognition entries
    • Account for lease modifications and remeasurements

    Key concepts

    • right-of-use asset
    • operating lease
    • finance lease
    • lease liability
    • incremental borrowing rate
    • lease modifications
2 · Financial Close3 topics
  • Month-End Close

    Close checklist management, accrual entries, prepaid amortization, cut-off procedures, and close calendar optimization

    Objectives

    • Execute a complete month-end close process on time
    • Identify and resolve common close bottlenecks

    Key concepts

    • close checklist
    • accrual entries
    • cut-off procedures
    • prepaid amortization
    • intercompany eliminations
    • close calendar
  • Consolidation

    Multi-entity consolidation, intercompany eliminations, minority interest, currency translation, and equity method accounting

    Objectives

    • Prepare consolidated financial statements with intercompany eliminations
    • Apply currency translation adjustments under ASC 830

    Key concepts

    • intercompany eliminations
    • minority interest
    • currency translation adjustment
    • equity method
    • VIE
    • push-down accounting
  • Account Reconciliation

    Balance sheet reconciliation methodology, reconciling item investigation, risk-based prioritization, and sign-off protocols

    Objectives

    • Design a risk-based reconciliation framework
    • Investigate and resolve complex reconciling differences

    Key concepts

    • balance sheet reconciliation
    • reconciling items
    • aging analysis
    • risk-based prioritization
    • unreconciled differences
    • blackline workflow
3 · Internal Controls3 topics
  • COSO Framework

    COSO 2013 internal control framework — five components, seventeen principles, and entity-level vs process-level controls

    Objectives

    • Map business processes to the COSO five-component model
    • Assess control design adequacy against COSO principles

    Key concepts

    • control environment
    • risk assessment
    • control activities
    • information & communication
    • monitoring
    • seventeen principles
  • Segregation of Duties

    SoD principles, incompatible duties identification, compensating controls, and ERP access conflict analysis

    Objectives

    • Identify SoD conflicts in ERP role assignments
    • Design compensating controls for small-team environments

    Key concepts

    • incompatible duties
    • authorization
    • custody
    • record keeping
    • compensating controls
    • user access review
  • Control Testing

    Design vs operating effectiveness testing, sample size selection, walkthrough procedures, and deficiency classification

    Objectives

    • Execute control walkthroughs and select appropriate sample sizes
    • Classify control deficiencies and escalate material weaknesses

    Key concepts

    • design effectiveness
    • operating effectiveness
    • walkthrough
    • sample size
    • deficiency
    • material weakness
    • significant deficiency
4 · Audit & SOX3 topics
  • Audit Readiness

    PBC list preparation, auditor request management, evidence gathering, and audit committee communication

    Objectives

    • Prepare complete PBC packages that minimize auditor queries
    • Coordinate cross-functional teams to meet audit deadlines

    Key concepts

    • PBC list
    • auditor requests
    • evidence packages
    • audit committee
    • year-end timeline
    • management representation letter
  • SOX 302/404 Compliance

    SOX Section 302 certification, Section 404 ICFR assessment, scoping, PCAOB standards, and remediation planning

    Objectives

    • Scope and document SOX 404 controls for a public company
    • Prepare management's assessment of ICFR effectiveness

    Key concepts

    • SOX 302
    • SOX 404
    • ICFR
    • PCAOB AS 2201
    • scoping
    • remediation plan
    • management assessment
  • Management Letter Responses

    Drafting management responses to audit findings, root cause analysis, corrective action plans, and remediation tracking

    Objectives

    • Write credible management responses with root cause analysis
    • Build tracking mechanisms to prevent repeat audit findings

    Key concepts

    • management response
    • root cause analysis
    • corrective action plan
    • remediation timeline
    • repeat findings
    • auditor follow-up
5 · Tax & Regulatory4 topics
  • Corporate Tax

    Corporate income tax compliance, book-to-tax differences, deferred tax assets and liabilities, and effective tax rate management

    Objectives

    • Identify and classify book-to-tax differences
    • Compute deferred tax balances and effective tax rate

    Key concepts

    • permanent differences
    • temporary differences
    • deferred tax asset
    • deferred tax liability
    • effective tax rate
    • NOL carryforward
  • Transfer Pricing

    Arm's length principle, transfer pricing methods, intercompany agreement documentation, BEPS compliance, and country-by-country reporting

    Objectives

    • Select and apply an appropriate transfer pricing method
    • Assess BEPS compliance requirements for a multinational group

    Key concepts

    • arm's length principle
    • comparable uncontrolled price
    • TNMM
    • profit split
    • BEPS Action 13
    • country-by-country reporting
    • intercompany agreements
  • Regulatory Filings

    SEC filings (10-K, 10-Q, 8-K), MD&A preparation, XBRL tagging, filing calendar management, and statutory reporting

    Objectives

    • Coordinate a 10-K filing process from draft to EDGAR submission
    • Prepare disclosure-quality MD&A narratives

    Key concepts

    • 10-K
    • 10-Q
    • 8-K
    • MD&A
    • XBRL
    • Regulation S-X
    • Regulation S-K
    • EDGAR
    • statutory accounts
  • Tax Provision (ASC 740)

    Income tax provision under ASC 740, uncertain tax positions (FIN 48/ASC 740-10), valuation allowances, and rate reconciliation

    Objectives

    • Prepare a complete income tax provision under ASC 740
    • Assess uncertain tax positions and appropriate reserves

    Key concepts

    • ASC 740
    • current tax expense
    • deferred tax expense
    • uncertain tax positions
    • valuation allowance
    • rate reconciliation
    • more-likely-than-not
6 · Accounting Leadership3 topics
  • Accounting Team Management

    Team structure design, staff development, performance management, close ownership, and cross-functional finance partnership

    Objectives

    • Design an accounting org structure to support growth
    • Develop junior accountants into self-sufficient contributors

    Key concepts

    • team structure
    • workload allocation
    • staff development
    • cross-training
    • performance reviews
    • finance business partner
  • ERP Implementation

    ERP project governance, chart of accounts design, data migration, user acceptance testing, and go-live cutover planning

    Objectives

    • Lead an ERP go-live with minimal financial reporting disruption
    • Design a chart of accounts that supports scalable reporting

    Key concepts

    • chart of accounts
    • data migration
    • UAT
    • cutover plan
    • parallel run
    • change management
    • post-go-live stabilization
  • Process Optimization

    Accounting process automation, RPA in finance, close acceleration, KPI dashboards, and continuous improvement methodologies

    Objectives

    • Identify and automate high-volume manual accounting processes
    • Reduce month-end close duration through systematic bottleneck elimination

    Key concepts

    • RPA
    • process automation
    • close acceleration
    • KPI dashboards
    • lean accounting
    • continuous improvement
    • bottleneck analysis
7 · Expert Accounting5 topics
  • Complex Revenue Recognition

    Applying ASC 606 to complex arrangements: multi-element contracts, variable consideration, principal vs agent, and contract modifications

    Objectives

    • Apply ASC 606's five-step model to complex multi-element software arrangements
    • Determine principal vs. agent classification and its revenue impact

    Key concepts

    • ASC 606 5-step model
    • distinct performance obligations
    • variable consideration constraint
    • principal vs agent
    • contract modifications
    • SSP estimation
  • Lease Accounting

    Implementing ASC 842 lease accounting: operating vs finance leases, ROU assets, discount rate determination, and transition

    Objectives

    • Classify leases under ASC 842 and calculate ROU assets and lease liabilities
    • Determine the appropriate incremental borrowing rate and apply practical expedients

    Key concepts

    • ASC 842
    • right-of-use asset
    • lease liability
    • IBR
    • operating vs finance lease
    • practical expedients
    • sale-leaseback
    • transition methods
  • Fair Value Hierarchy & Measurement

    Applying ASC 820 fair value measurement: Level 1/2/3 inputs, valuation techniques, and disclosure requirements

    Objectives

    • Classify fair value measurements into the ASC 820 three-level hierarchy
    • Apply appropriate valuation techniques and prepare required disclosures

    Key concepts

    • Level 1/2/3 inputs
    • market approach
    • income approach
    • cost approach
    • highest and best use
    • valuation uncertainty
    • ASC 820 disclosures
  • Internal Controls at Scale

    Designing and operating SOX 302/404 internal control programs: control design, COSO framework, deficiency evaluation, and external auditor coordination

    Objectives

    • Design a SOX 404 internal control program spanning entity-level and process-level controls
    • Evaluate control deficiencies against the material weakness threshold and design remediation

    Key concepts

    • SOX 302/404
    • COSO framework
    • ICFR
    • material weakness vs significant deficiency
    • control design vs operating effectiveness
    • PCAOB standards
    • remediation planning
  • Consolidation & Intercompany Eliminations

    Preparing consolidated financial statements: intercompany eliminations, non-controlling interests, foreign currency translation, and equity method

    Objectives

    • Prepare consolidated financial statements including all intercompany eliminations
    • Determine consolidation vs. equity method treatment and account for NCI

    Key concepts

    • intercompany eliminations
    • non-controlling interests
    • NCI measurement
    • CTA
    • functional currency
    • equity method vs consolidation
    • VIE assessment

Levels: Junior, Mid, Senior, and Expert

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Frequently asked questions

Where should I start studying Accounting & Compliance?

Start with Accounting Standards: GAAP Fundamentals, IFRS vs GAAP Differences, and Revenue Recognition (ASC 606). The map orders topics by what they depend on, so each one prepares the next.

How long does a full Accounting & Compliance assessment take?

A full assessment of this path takes about 50 minutes. Study time depends on where you start; a diagnostic shows which topics you can skip.

Do I need an account to use this page?

No. The map, objectives and key concepts are open. You only need an account to be measured, get your gap by topic and receive a plan.