To Access This Course:
Fixed assets are subject to an unusually large amount of record keeping, as well as very specific accounting treatment under the IFRS accounting framework. In addition, given the large expenditures involved in fixed assets and the complexity of the accounting, you can expect a high degree of auditor interest in this area.
Course Key Concepts:
- Concepts and rules for Property, Plant, and Equipment
- Revaluation methods under IFRS
- How to test and account for asset impairment
- How to calculate the depreciation of fixed assets under IFRS
- The types of controls needed to avoid the improper acquisition, recording, and disposition of fixed assets
- Explain the objectives and procedures used by auditors for fixed asset audits
- Explain when you should capitalize interest, and how to calculate it
- How to calculate the cost of an asset retirement obligation: retirements and other disposals of long-lived assets
- Nonmonetary (exchange) transactions
- Disclosure requirements
- Financial statement presentation
Learning Objectives
- Explore the more complex aspects of fixed asset accounting under IFRS
- Discover how Asset impairments are different in IFRS
- Recognize when Impairment reversals are necessary
- Identify Asset retirement obligations
- Explore Asset revaluation techniques
- Explore Financial statement and Note presentation
Last updated/reviewed: November 5, 2019
Prerequisites
Course Complexity: Intermediate
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .