Mastering Fixed Asset Accounting & Depreciation: A Practical Guide

What you will learn:

Understand fixed asset classification and accounting principles.
Master diverse depreciation calculation methods and their practical applications.
Analyze the comprehensive impact of depreciation on key financial statements.
Effectively manage fixed asset registers and handle asset disposals.
Develop and implement comprehensive fixed asset and depreciation budgets.

Description

Join our comprehensive course on Mastering Fixed Asset Accounting & Depreciation! This in-depth program provides the essential knowledge and practical skills you need to confidently manage fixed assets and their impact on financial reporting. We go beyond the basics, covering a wide range of topics in a clear and structured way.

The course is meticulously designed in five modules, progressively building your expertise:

Fundamentals of Fixed Assets: Understand the core concepts of fixed assets, differentiating between capital expenditures and expenses. Explore the complete lifecycle of fixed assets – from acquisition to disposal – and its significance in financial reporting.
Depreciation Methods Demystified: Master various depreciation methods (straight-line, declining balance, double-declining balance, sum-of-the-years' digits, units-of-production). Learn how to perform these calculations using Excel for accuracy and efficiency.
Fixed Assets & Financial Statement Impact: Analyze the effects of fixed assets on key financial statements, including the balance sheet, income statement, and cash flow statement. Develop your ability to interpret the financial impact of these assets.
Advanced Fixed Asset Management: Dive into advanced topics, including adjustments for changes in useful life and salvage value, asset revaluation, impairment, and the accounting for asset disposals (both gains and losses).
Strategic Fixed Asset Planning: Learn to create robust fixed asset plans, accurately forecasting depreciation and projecting asset movements for future fiscal years. Utilize Excel templates to streamline this process.

Practical Application: This course culminates in a practical case study, guiding you through the entire accounting process for fixed assets. You'll gain hands-on experience with real-world scenarios, ensuring you can apply your knowledge effectively.

By the end, you'll have the confidence and skills to excel in fixed asset management and depreciation. Enroll now and elevate your accounting expertise!

Curriculum

Introduction

This introductory section sets the stage for the course, providing a brief overview of what you will learn. The "Introduction" lecture gives you a preview of the course content and what to expect. (Duration: 02:11)

Introduction to Fixed Assets

This module lays the groundwork for understanding fixed assets. You will learn about the general overview of fixed assets, the key distinctions between capitalizing and expensing assets, the effects of fixed assets on financial statements, and their life cycle from acquisition to disposal. (Durations: 04:35, 03:04, 03:18, 03:35)

Depreciation Methods

This section delves into various depreciation methods, teaching you how to calculate each method step by step using Excel. It covers the Straight-Line, Declining Balance, Double-Declining Balance, Sum-of-the-Years'-Digits, and Units-of-Production methods. Two quizzes are included to reinforce learning. (Durations: 05:18, 05:27, 03:03, 02:55, 01:56, 03:42, 4 questions, 4 questions)

The Impact on Financial Statements

Here, you’ll analyze the impact of fixed asset purchases and depreciation on the key financial statements. Learn how these assets affect the balance sheet, income statement, and cash flow statement. A short quiz will test your understanding. (Durations: 05:31, 05:58, 2 questions)

Advanced Topics in Fixed Assets Management

This module covers advanced adjustments and situations you may encounter. Topics include adjusting for changes in useful life and salvage value, asset revaluation, asset impairment, and handling the disposal of fixed assets (with gains and losses). A quiz focuses on useful life adjustments. (Durations: 03:02, 02:21, 12:53, 06:53, 09:32, 01:51, 1 question)

Fixed Assets and Depreciation Budgeting

In this final module, you'll learn how to create fixed asset budgets and plans, including forecasting depreciation and projecting asset movements. Excel template creation is also covered. (Durations: 01:58, 05:51, 03:46, 02:22)

Course Conclusion and Next Steps

The concluding section summarizes the course and suggests further learning opportunities. (Duration: 00:40)

Deal Source: real.discount