Fixed Asset Accounting
Author: Robert K Minniti
| CPE Credit: |
2 hours for CPAs |
This course is designed to introduce participants to the basic concepts of fixed asset accounting. Participants will be introduced to various concepts including what qualifies as a fixed asset, acquiring fixed assets, depreciation methods, impairments, tracking fixed assets, security of fixed assets, and disposing of fixed assets.
Publication Date: February 2026
Designed For
This course is appropriate for CPAs or consultants who are working with small businesses.
Topics Covered
- Applicable Accounting Principles
- Typical Fixed Asset Transactions
- Depreciation
- Depreciation for Taxes
- Internal Controls
Learning Objectives
- Identify fixed asset transactions
- Identify the basic concepts of fixed asset accounting
- Recognize and apply fixed asset accounting various concepts
- Identify the monthly depreciation when using the straight-line depreciation method on an equipment purchase of $90,000 with a useful life of 5 years and no residual value
- Identify how a company should report a transaction when it sells a delivery truck with a book value of $6,000 and accumulated depreciation of $20,000 for $5,000 in cash
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Accounting (2 hours)
Program Prerequisites
None
Advance Preparation
None
