• Course Information

    Title: Fixed Assets: Reporting and Analyzing
    Category: Accounting and Auditing
    Field of Study: Accounting
    Course Code: A017-0439
    CPE Credits: 5.0
    Price: $43.95
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Description

Description:
Fixed 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 of the companies. These resources are necessary for the companies to operate and ultimately make a profit. In many cases, the efficient use of these resources determines the amount of profit that companies will earn. This course is designed to address the key accounting principles and concepts of fixed assets and share meaningful insights and techniques that help the accounting professionals build a solid foundation to achieve greater efficiency. To reach the higher efficiency, one is ready to answer the following questions:
* What are the basic accounting rules and requirements for recording, reporting and disclosures of fixed assets?
* How do I properly account for intangible assets and assess goodwill?
* What are the key differences between IFRS and GAAP affecting the fixed assets?
* What are the top issues of fixed assets 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 regarding fixed assets?
* 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: 07/06/2017

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Objectives

Objectives:
Chapter 1: Accounting for Fixed Assets
1. Identify the characteristics of fixed assets
2. Recognize the impact of fixed assets and depreciation on financial statements
3. Identify the various types of depreciation methods
4. Recognize the accounting procedures for depletion of natural resources
5. Identify the procedures for amortizing intangible assets
6. Recognize the concept of capitalized interest
7. Recognize how to account for asset retirement obligations
8. Identify the impact of accounting changes in depreciation method
9. Identify the disclosure required in the financial statements regarding fixed assets
10. Recognize key differences between IFRS and GAAP affecting the fixed assets

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Profession

NASBA: Yes

QAS: Yes

CPA: Suitable for all CPAs

IRS: No IRS credit for Enrolled Agents.

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