Fixed Asset Accounting ON DEMAND

Overview

Fixed assets can be one of the largest asset groups within an organization and requires special accounting that differs from the accounting used for any other assets. This course comprehensively addresses every GAAP and IFRS accounting rule related to these crucial assets, including interest capitalization, asset retirement obligations, depreciation, impairment, and disposal. The course delves into many other areas of interest to the accountant, including record keeping, controls, policies and procedures, measurements, asset tracking, and auditing procedures related to fixed assets. In short, this is the go-to source for all accounting issues related to fixed assets.

Highlights

Fixed asset classification. Capital budgeting fixed assets. Fixed asset recognition. Asset retirement obligations. Fixed asset depreciation. Fixed asset disclosures. Fixed asset record keeping. Fixed asset audit procedures.

Prerequisites

None.

Designed For

CPAs, and other accounting and finance professionals.

Objectives

Cite the general classifications of fixed assets. Identify the concepts used to evaluate fixed assets in capital budgeting process. Specify the accounting rules for the initial recognition of fixed assets. Cite the situations under which interest can be capitalized. Specify the scenarios under which asset retirement obligations should be used and valuations assigned. Identify the methods used to depreciate fixed assets. Cite the instances in which the recorded amount of fixed assets may be adjusted at a later date. Specify the accounting for an asset impairment. Specify the accounting for assets to be derecognized in the accounting records. State the types of disclosures related to fixed assets. Cite the accounting rules related to the recordation of fixed asset transactions by not-for-profit entities, and more.

Preparation

None.

Notice

None.