Fixed Asset Accounting (Currently Unavailable)

Author: Steven Bragg

CPE Credit:  12 hours for CPAs

This course addresses both the GAAP and IFRS accounting for all aspects of fixed assets, including their initial purchase, impairment, revaluation, and disposal. The course also covers the disclosure of fixed asset information, as well as related controls, measurements, record keeping, and policies and procedures.

Publication Date: August 2013

Designed For
The practicing accountant who needs to learn about fixed asset accounting.

Topics Covered

  • Introduction to Fixed Assets
  • Capital Budgeting Analysis
  • Initial Fixed Asset Recognition
  • Interest Capitalization
  • Asset Retirement Obligations
  • Depreciation and Amortization
  • Subsequent Fixed Asset Measurement
  • Fixed Asset Impairment
  • Fixed Asset Disposal and Disclosures
  • Not-for-Profit Fixed Asset Accounting
  • Fixed Asset Record Keeping and Fixed Asset Controls
  • Fixed Asset Policies and Procedures
  • Fixed Asset Tracking
  • Fixed Asset Measurements
  • Fixed Asset Auditing

Learning Objectives

  • Recognize the general classifications of fixed assets.
  • Identify the methods used to evaluate fixed assets in the capital budgeting process.
  • Recognize the accounting rules for the initial recognition of fixed assets.
  • Identify the situations under which interest can be capitalized.
  • Identify the methods used to account for asset retirement obligations.
  • Identify the methods used to depreciate fixed assets.
  • Recognize the instances in which the recorded amount of fixed assets may be adjusted at a later date.
  • Identify the accounting rules regarding asset impairment.
  • Identify the accounting actions taken for fixed asset disposals.
  • Recognize the types of disclosures related to fixed assets.
  • Identify the accounting rules related to the recordation of fixed asset transactions by not-for-profit entities.
  • Identify the account structures and record keeping used for fixed assets.
  • Recognize the controls used for fixed assets.
  • Identify the policies and procedures used for fixed asset transactions.
  • Determine the methods available for tracking fixed assets.
  • Identify the measurements that can be applied to fixed assets.
  • Recognize the audit procedures used for fixed assets.

Level
Intermediate

Instructional Method
Self-Study

NASBA Field of Study
Accounting (12 hours)

Program Prerequisites
A basic understanding of fixed asset accounting.

Advance Preparation
none

">
 Chat — Books Support