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| Author : | Jae K. Shim, Ph.D., CPA |
| Course Length : | Pages: 60 ||| Review Questions: 34 ||| Final Exam Questions: 25 |
| CPE Credits : | 5.0 |
| IRS Credits : | 0 |
| Price : | $44.95 |
| Passing Score : | 70% |
| Course Type: | NASBA QAS - Text - Technical - NASBA Registry |
| Primary Subject-Field Of Study: | Accounting - Accounting for Course Id 1948 |
| Description : | An asset is an item of economic value expected to yield a benefit to the owing entity in future periods. To provide information about liquidity, assets are divided into current and noncurrent assets on the balance sheet. A current asset, such as cash, account receivable, and prepaid expenses, is expected to be consumed within one year, while noncurrent assets, such as long-term investments, property, plant and equipment, and intangible assets, are to be consumed in more than one year. This course discusses generally accepted accounting principles (GAAP) for reporting both current and noncurrent assets on the balance sheet. The course is designed to help you navigate common asset accounts with specific examples to illustrate the application. |
| Usage Rank : | 0 |
| Release : | 2021 |
| Version : | 1.0 |
| Prerequisites : | Basic Accounting. |
| Experience Level : | Overview |
| Additional Contents : | Complete, no additional material needed. |
| Additional Links : |
Asset
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| Advance Preparation : | None. |
| Delivery Method : | QAS Self Study |
| Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
| Revision Date : | 04-Feb-2022 |
| NASBA Course Declaration : | Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam. |
| Approved Audience : | NASBA QAS - Text - Technical - NASBA Registry - 1948 |
| Keywords : | Accounting, Balance, Sheet, Reporting, Assets, v11, cpe, cpa, online course |
| Learning Objectives : |
Course Learning Objectives After completing this course, you should be able to:
2. Identify accounting procedures for cash and accounts receivable 3. Recognize how to how to compute inventory balances 4. Identify the reporting requirements of debt securities 5. Recognize how to account for and report tangible assets 6. Identify accounting procedures for amortizing intangible assets |
| Course Contents : | Part 1: Financial Reporting Standards Objectives of Financial Reporting Uses and Limitations of the Balance Sheet Characteristics of Assets Present Right Right to an Economic Benefit Recognition and Measurement IFRS Connection Review Questions - Section 1 Part 2: Current Assets Cash and Cash Equivalents Receivables Accounts Receivable Notes Receivable Loans Receivable Disclosure Requirements Trading Securities Review Questions - Section 2 Inventory General Rules Lower of Cost or Market Value Specialized Inventory Methods Relative Sales Value Method Financing Product Arrangements Other Considerations Disclosure Requirements Prepaid Expenses Review Questions - Section 3 Part 3: Noncurrent Assets Long-Term Investments Held-to-Maturity Available-for-Sale Property, Plant, and Equipment General Rules Types of Depreciation Methods Natural Resources Impairment or Disposal Capitalized Interest Other Considerations Disclosure Requirements Review Questions - Section 4 Intangible Assets General Rules Software Arrangements Goodwill Review Questions - Section 5 Glossary |
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