Basic Concepts of Fixed Asset Accounting

5 (1)

Dr. Robert Minniti

Minniti CPA LLC

Thursday, April 01, 2021 | 11:00 AM EDT

  • ABV
  • CMA
  • CPA
  • CVA
  • CFE

2 Credits

$20

Subject Area

Accounting

Webinar Qualifies For

2 CPE credit for Certified Management Accountants (CMA)

2 CPE credit for Certified Fraud Examiners (CFEs)

2 CPE credit of Accounting for all CPAs

2 CPD credit (Verifiable) for CPA/ABV

2 CPD credit (Verifiable) for Certified Valuation Analyst (CVA)

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Course Description

This CPE webinar for CPAs 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.

Key topics: 

  • Basic understanding of accounting for fixed assets
  • Accounting Procedures
  • Types of Fixed Assets
  • Typical Fixed Asset Transactions
  • Depreciation
  • Depreciation for Taxes: MACRS
  • Bonus Depreciation
  • TCJA Auto Depreciation
  • Component Depreciation
  • Fixed Asset Thresholds
  • Impairments
  • Asset Dispositions
  • Individual Capital Gains Tax
  • Individual 2020 Long Term Capital Gains Tax Rates
  • Tracking Fixed Assets
  • Security for Fixed Assets
  • Internal Controls

Recommended for: 

CPAs, CMAs, CGMAs, CIAs, CFEs, CFOs, CEOs, employees, staff accountants, managers, and anyone who is interested in obtaining a basic understanding of fixed asset accounting.

Learning Objectives

  • To define a fixed asset
  • To recognize how to post transactions for the acquisition of fixed assets
  • To identify the useful life of an asset
  • To recognize various depreciation methods
  • To discuss transaction for the disposition of fixed assets
  • To identify how to physically track a company's fixed assets

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Bookkeepers & Accountants & Tax Preparers
  • Bookkeepers & Accountants & Tax Preparers
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Young CPA

Testimonial

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