How to Audit Fixed Assets ON DEMAND
Available Until
Your Desk
2.0 Credits
Member Price $58.00
Non-Member Price $67.00
Overview
Auditing fixed assets, a significant component of many businesses’ financial statements, presents unique challenges. The complexity increases with the diversity of tangible and intangible assets, varying depreciation methods, and the intricacies of asset impairment losses. “How to Audit Fixed Assets” is an asset audit CPE course specifically designed to address these challenges. It provides an in-depth understanding of the characteristics of fixed assets from an auditing perspective. Participants of this auditing CPE will learn how to effectively audit both tangible and intangible fixed assets, navigate through the nuances of auditing depreciation, and tackle the complexities of asset impairment losses. The auditing CPE also includes practical insights into recognizing accounts where fixed assets are typically recorded, detecting discrepancies in asset disposition, and understanding the triggers for possible asset impairment. This course is an essential resource for professionals aiming to enhance their proficiency in auditing fixed assets, ensuring accuracy and compliance in financial reporting.
Highlights
Auditing fixed assets. Auditing intangible assets. Auditing depreciation. Planning the fixed asset audit.
Prerequisites
None.
Designed For
CPAs, controllers, accountants, financing professionals, business owners, and managers.
Objectives
Recognize the accounts in which fixed assets are typically recorded. Note the changes in a fixed asset audit, based on the types of assets being audited. Cite the situations in which inherent risk is more likely to be high. Describe the fixed asset roll forward report. Recognize the ways to detect assets that were dispositioned but not recorded. Note the circumstances that can trigger a possible asset impairment. Describe the rules relating to goodwill amortization. Cite the auditing tasks to be completed when examining a client’s depreciation. Recognize the types of fixed asset reports that can assist an auditor.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $67.00
Member Price $58.00