Fixed Asset Accounting (CPE Course)

CPE Credit: 12 hours

Course Type: Downloaded PDF materials with online test

Price (with PDF Textbook): $85

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Course Description
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. The Fixed Asset Accounting 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 the record keeping, controls, policies and procedures, measurements, asset tracking, and auditing procedures related to fixed assets. In short, Fixed Asset Accounting is the go-to source for all accounting issues related to fixed assets.

Author: Steven Bragg

Course Number: AC1068

Table of Contents
Chapter 1. Introduction to Fixed Assets
Chapter 2. Capital Budgeting Analysis
Chapter 3. Initial Fixed Asset Recognition
Chapter 4. Interest Capitalization
Chapter 5. Asset Retirement Obligations
Chapter 6. Depreciation and Amortization
Chapter 7. Subsequent Asset Measurement
Chapter 8. Fixed Asset Impairment
Chapter 9. Fixed Asset Disposal
Chapter 10. Fixed Asset Disclosures
Chapter 11. Not-for-Profit Fixed Asset Accounting
Chapter 12. Fixed Asset Record Keeping
Chapter 13. Fixed Asset Controls
Chapter 14. Fixed Asset Policies and Procedures
Chapter 15. Fixed Asset Tracking
Chapter 16. Fixed Asset Measurements
Chapter 17. Fixed Asset Auditing

Learning Objectives

  • Cite the general classifications of fixed assets.

  • Identify the concepts used to evaluate fixed assets in the 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.

  • State the account structures and record keeping used for fixed assets.

  • Recognize the controls to be used under specific circumstances when fixed assets are involved.

  • Specify the reasons for using fixed asset policies, and the circumstances under which certain policies and procedures are needed or not needed.

  • Identify the methods used to track fixed assets, and the circumstances under which they are most useful.

  • State the measurements that can be applied to fixed assets, and the circumstances under which they should be used.

  • Specify the fixed asset audit procedures that an auditor may employ, and the reasons for using them.

Level: Overview

Instructional Method: QAS Self-Study

NASBA Category: Accounting

Prerequisites: None

Advance Preparation: None

Latest Review Date: December 2022

Program Registration Requirements: Click on "Purchase Course" near the top of this page to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.

Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

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AccountingTools, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.