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
Instructor
Robert K Minniti
DBA, CPA, CFE, Cr.FA, CVA, MAFF, CFF, CGMA, PI
Dr. Minniti is the President and Owner of Minniti CPA, LLC. Dr. Minniti is a Certified Public Accountant, Certified Forensic Accountant, Certified Fraud Examiner, Certified Valuation Analyst, Certified in Financial Forensics, Master Analyst in Financial Forensics, Chartered Global Management Accountant, and is a licensed private investigator in the state of Arizona.
Dr. Minniti received his doctoral degree in business administration from Walden University, received his MBA degree and Graduate Certificate in Accounting from DeVry University’s Keller Graduate School of Management, and received his Bachelor of Science in Business Administration degree from the University of Phoenix. Dr. Minniti taught graduate and undergraduate courses in forensic accounting at DeVry University, Grand Canyon University, Kaplan University, Northwestern University, and the University of Phoenix. He designed graduate and undergraduate courses for Grand Canyon University, Northwestern University, and Anthem College.
He is a writer and public speaker. He has experience in forensic accounting, fraud examinations, financial audits, internal audits, compliance audits, real estate valuations, business valuations, internal control development, business continuation planning, risk management, cyber security, privacy laws, data security, Sarbanes-Oxley compliance work and business consulting. In addition to his practice Dr. Minniti is an instructor teaching continuing professional education classes for a variety of providers and CPA Societies.
Dr. Minniti is currently serving as a board member on the National Association of Certified Valuators and Analysts' (NACVA) Litigation Forensics Board (LFB) and as a committee member on the Arizona State Board of Accountancy's Law Review Advisory Committee.