When a business buys (or otherwise obtains) an asset, it falls to the accountant to record and follow the asset through its life and eventual disposal. This multi-year activity requires the development of cost-effective accounting systems that address classification, adjustment, and disclosure. The accountant is tasked with ongoing scrutiny and adjustment of what can be hundreds--even thousands--of complex items, some of which don't even have physical substance. The design of efficient, cost-effective systems defines the art of accounting for assets; you'll learn how to achieve this and much more from Steven M. Bragg.
In this course--an adaptation of the second part of Steven Bragg's bestselling Accountants' Guidebook--we'll take an in-depth look at how to work within the GAAP requirements of accounting for assets and examine suggestions and techniques for navigating this complex topic with specific focus on Property, Plant and Equipment, and Intangibles.
Upon successful completion of this course, participants will be able to:
- State the valuation and depreciation rules applicable to fixed assets
- Identify the rules regarding goodwill impairment and the capitalization of intangible assets
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