Fixed Asset Headaches: Common Deficiencies and How to Avoid Them

CPE Credits: 
Session Time: 
Sunday, May 21, 2017 - 1:30pm to 2:20pm
Field of Study: 
Accounting – Governmental

For many organizations fixed asset accounting can be one of the most challenging—not only do the complexities of capital assets present unique challenges, but obtaining information necessary to properly record asset values requires coordination from across the organization and often between multiple systems. Construction projects, software, joint ownership, improvement vs. maintenance—there is no need to persuade public-sector accountants and auditors of the need for an effective fixed asset system. Unfortunately, even the best designed systems run into challenges. This session examines the most common challenges to fixed asset systems, and how to solve them.