Fixed Asset Controls

Fixed assets are one of the largest investments on a company’s balance sheet, and yet they tend to be poorly controlled. This presents a risk of reporting incorrect asset valuations. In the Fixed Asset Controls course, we cover many types of controls, including those pertaining to fixed asset authorizations, valuation, depreciation, disposal, and theft. We also point out how to reduce the cost of these controls. The intent is to provide the user with a comprehensive set of controls to form the basis for a proper fixed asset accounting system.

Format

PDF Course

Level

Overview

Duration

1 Hour

Course Information

Author: Steven Bragg

C ourse Number: AC1141

Learning Objectives

Recognize the distinction between ghost assets and zombie assets.
Specify the different types of fixed asset controls.

Level: Overview

Instructional Method: QAS Self-Study

NASBA Category: Accounting

Prerequisites: None

Advance Preparation: None

Latest Review Date: June 2024

Program Registration Requirements: Click on the Enroll button to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.

Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

AccountingTools, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.