Essentials of Asset Accounting

5 Credits: Accounting


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Essentials of Asset Accounting

Course Level
CPE Credits

5 Credits: Accounting

Course Description

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 – a breakout of Steven’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. We offer this course as a convenience for those of you who are interested in studying Essentials of Asset Accounting as a standalone topic.

This course covers material also contained in Accountants’ Guidebook.

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Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Identify the key requirements of accounting for receivables

Chapter 2

  • Cite the accounting for investment transfers and the impairment of securities

Chapter 3

  • Identify the tracking and cost accumulation systems used for inventory

Chapter 4

  • State the valuation and depreciation rules applicable to fixed assets

Chapter 5

  • Identify the rules regarding goodwill impairment and the capitalization of intangible assets
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Course Specifics

Course ID
Revision Date
October 14, 2022

There are no prerequisites.

Advanced Preparation


Compliance Information

NASBA Provider Number: 103220

CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

Meet The Experts

Steven M. Bragg Headshot

Steven M. Bragg, CPA, is a full-time book and course author who has written more than 250 business books and courses. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast. Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and …

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