• Course Information
    4.5 (932)

    Title: Assets: Reporting, Protecting, and Analyzing
    Category: Accounting and Auditing
    Field of Study: Accounting
    Course Code: A021-0439
    CPE Credits: 7.0
    Price: $54.95
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Description

Description:
Assets can compose a significant amount of the total assets in many companies. For example, fixed assets usually account for 35-50% of Fortune 500 companies' total assets and represent the majority of capital investments for most companies. These assets are necessary for companies to operate, and, in many cases, the efficient use of these assets determines the amount of profit that companies will earn. Assets: Reporting, Protecting, and Analyzing is designed to address the key accounting principles and concepts of assets and share meaningful insights and techniques that help accounting professionals build a solid foundation to achieve greater efficiency. To maximize efficiency, accountants must answer the following questions:
* What are the basic accounting rules and requirements for recording, reporting, and disclosing assets?
* How do I properly account for intangible assets and assess goodwill?
* What are the key differences between IFRS and GAAP affecting the reporting of assets?
* What are the top fixed asset issues and how do I address them?
* What are the internal controls for safeguarding valuable assets?
* How can I be "audit-ready" for fixed assets? What are the targeted audit areas and common audit findings?
* How do I make optimal long-term investment decisions?
* What are the various aspects of the lease/buy decisions and considerations of new lease accounting standards?

Delivery Method: Online Interactive Self Study

Level: Overview

Prerequisites: None

Advanced Preparation: None

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Course Details

Author: Delta Publishing

Category: Accounting and Auditing

Field of Study: Accounting

Passing Score: 70%

Publication Date: 12/09/2021

Technical Details: Accounting: Technical

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Objectives

Objectives:
1. Identify the characteristics of assets
2. Recognize the impact of assets and depreciation on financial statements
3. Identify the various types of depreciation methods
4. Identify the procedures for amortizing intangible assets
5. Recognize the concept of capitalized interest
6. Recognize how to account for asset retirement obligations
7. Identify the impact of accounting changes in the depreciation method
8. Recognize key differences between IFRS and GAAP asset reporting requirements
9. Identify the top issues and control activities related to fixed assets
10. Recognize common testing procedures for fixed asset audits
11. Identify the different techniques used to evaluate investments and their applications
12. Recognize various aspects of lease vs. buy decisions

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Profession

NASBA: Yes

QAS: Yes

CPA: Suitable for all CPAs

IRS: No IRS credit for Enrolled Agents.

Profession Identifiers : CPA

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