Financial Skills: Accounting for Fixed Assets

Course Overview

This course is an introduction to accounting for fixed assets under UK GAAP and provides a practical guide to how to approach accounting for fixed assets. It will involve case studies to illustrate all aspects of fixed asset accounting and will cover recent accounting issues. It will be a comprehensive guide for those in industry and commerce and also useful to those in public bodies. The impact of IFRS will be discussed.

Course Outline

• The basis of accounting for fixed assets
• Accruals accounting
• Capital v revenue expenditure
• The concept of depreciation
• Recording of tangible fixed assets
• Purchases, disposals, depreciation, revaluation, impairment
• Treatment of other fixed assets
• Leased assets, property and investment properties, intangibles
• Overview of UK accounting standards and their impact on accounting for fixed assets
• FRS 10 -Goodwill and intangible assets
• FRS 11 -Impairment of fixed assets and goodwill
• FRS 15 -Tangible fixed assets
• Case studies will be used throughout to illustrate accounting entries
• Review of the relevant IAS's and the key differences from UK GAAP

Financial Skills: Accounting for Fixed Assets / CM9474