How to Account for Capital Assets
Basic understanding of GAAP for state and local governments
Field of Study
Accounting — Governmental
Accounting and Financial Reporting
Internet Training / Webinar
The training will furnish participants with the basic information needed to properly account for capital assets and report them in financial statements prepared in conformity with generally accepted accounting principles (GAAP).
Those who successfully complete the seminar should be able to:
- Identify the major capital asset classes and the specific types of capital assets properly included in each
- Determine the value at which capital assets should be reported and the proper depreciation or amortization for each
- Identify and calculate impairments
- Prepare financial statements that conform to the display and disclosure requirements of GAAP for capital assets
- Identify the essential elements of system design for the management of capital assets, including specific policies related to capital assets
Who Will Benefit
This course is taught by finance officers and other industry experts.