Accounting for Fixed Assets – What Every CPA Should Know ON DEMAND
Available Until
Your Desk
2.0 Credits
Member Price $58.00
Non-Member Price $67.00
Overview
This course provides an overview of how U.S. GAAP applies to fixed assets. It explores important topics such as how and when to recognize assets, how to measure and depreciate them, and what to consider when assets are impaired or held for sale. The course also addresses the accounting for asset sales and abandonments, including how to determine and report gains or losses.
Highlights
U.S. GAAP guidance. Interest capitalization. Repairs and maintenance vs. Capital improvements. Impairment testing. Held for sale assets. Held for sale criteria. Asset abandonment. Sales of PP&E. Disclosure requirements
Prerequisites
None.
Designed For
CPAs, CEOs, CFOs, controllers and other financial managers.
Objectives
Identify capitalizable costs and assets qualifying for interest capitalization. Determine interest eligible for capitalization and impairment triggers. Recognize depreciation methods, impairment steps, and sale criteria. Identify impacts of changes in depreciation or useful life. List held-for-sale criteria and differentiate asset classifications. Identify key disclosure requirements under ASC 360.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Kelen Camehl, Western CPE
Kelen is a recognized author and reviewer of CPE courses and has authored over 85 courses (225+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics. His courses are available for purchase from many online CPE providers including the AICPA. Kelen has also remained involved in CPA exam content development for nearly 10 years and has authored more than a thousand multiple choice questions for various sections of the CPA exam. He also serves as an Editorial Advisor for the AICPA’s “Journal of Accountancy”.
Kelen has over 15 years of progressive finance and accounting experience. He currently serves as an Accounting Policy Consultant with HP, Inc. in Dallas, TX. Most recently he was located in Budapest, Hungary on a three-year international assignment and served in the company’s Houston, TX location prior to this assignment. Prior to HP, he served in multiple accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors.
Non-Member Price $67.00
Member Price $58.00