Accounting For Fixed Assets And Depreciation.

A Comprehensive Guide to Managing Fixed Assets and Depreciation for Accurate Financial Reporting.

What you'll learn

Understand the classification and accounting treatment of fixed assets.

Master various depreciation methods and their application.

Analyze the impact of depreciation on financial statements.

Learn how to maintain a fixed assets register and handle asset disposals.

Learn How to Create Fixed Assets and Depreciation Budgets

Requirements

A basic understanding of accounting principles is recommended but not required.

Description

Welcome to Accounting for Fixed Assets and Depreciation! This comprehensive course is designed to equip you with the knowledge and practical skills needed to manage fixed assets effectively and understand their impact on financial statements.The course is structured into five sections, each building upon the last to provide a well-rounded understanding:Introduction to Fixed Assets:Gain an overview of fixed assets, including the key differences between capitalization and expenses.Explore the lifecycle of fixed assets, from acquisition to disposal, and understand their significance in financial reporting.Depreciation Methods:Dive into various depreciation methods and learn to calculate them step by step in Excel.Compare these methods and understand their implications for asset valuation and financial statements.Fixed Assets and Financial Statements:Analyze the impact of fixed assets on key financial statements, including the balance sheet, income statement, and cash flow statement.Advanced Topics in Fixed Asset Management:Discover advanced adjustments, such as changes in an asset’s useful life, salvage value, and valuation adjustments.Fixed Asset Planning:Learn how to create fixed asset plans, forecast depreciation, and project fixed asset movements for the next fiscal year.Case Study:Apply your knowledge in a practical case study that walks you through the entire accounting process for fixed assets—from acquisition to depreciation and disposal. You'll learn how to record transactions accurately and understand their financial impact.By the end of this course, you’ll have the confidence to handle fixed asset management and depreciation in real-world scenarios, using practical tools like Excel to ensure accuracy and efficiency.Enroll now and take your accounting skills to the next level!

Overview

Section 1: Introduction

Lecture 1 Introduction

Section 2: Introduction to Fixed Assets

Lecture 2 Fixed Assets overview

Lecture 3 Capitalization versus expenses

Lecture 4 The Impact of Fixed Assets on Financial Statements

Lecture 5 The Life Cycle of Fixed Assets: From Acquisition to Disposal

Section 3: Depreciation Methods

Lecture 6 What is Depreciation?

Lecture 7 Depreciation Straight-Line Method

Lecture 8 Depreciation Declining Balance Method

Lecture 9 Depreciation Double Declining Balance Method.

Lecture 10 Depreciation Sum-of-the-Years-Digits Method.

Lecture 11 Depreciation Units-of-Production Method

Section 4: The Impact on Financial Statements

Lecture 12 Impact of asset purchases on financial statements

Lecture 13 The Impact of Depreciation Booking on Financial Statements

Section 5: Advanced Topics in Fixed Assets Management

Lecture 14 Adjustment of the useful life for the asset.

Lecture 15 Adjustment for changes in an asset's salvage value.

Lecture 16 Adjustment for asset revaluation.

Lecture 17 Asset impairment.

Lecture 18 Disposal of fixed assets with Gain.

Lecture 19 Disposal of fixed assets with a loss.

Section 6: Fixed Assets and Depreciation Budgeting

Lecture 20 CAPEX Budget Process.

Lecture 21 Planning for fixed assets

Lecture 22 Planning for fixed assets excel template creation

Lecture 23 Building our fixed asset budget

Section 7: Course Conclusion and Next Steps

Lecture 24 Course Conclusion and Next Steps

This course is designed for finance professionals, accountants, small business owners, and entrepreneurs looking to enhance their understanding of fixed assets management and depreciation. It is also ideal for students and professionals.