presents American Management Association Seminars
FIXED ASSET ACCOUNTING
Seminar No: 01224 -XNBB
CEU Credits: 1.2
Length: 2 days
With today's uncertain markets, you need to know how to maximize your assets and protect your organization's investments!
Attendees:
Accountants, controllers, managers of fixed assets, divisional plant managers and all executives with two years or less of experience in fixed asset accounting.
How You Will Benefit:
- Maximize the tax benefits from your fixed assets
- Make a smooth transition from a manual system to computerized accounting
- Accurately appraise the value of your assets in today's economy
- Set up paperwork, forms and systems to get timely, accurate information
What You Will Cover:
- How to meet all accounting, tax, insurance and other requirements
- Value concepts
- Establishing the fixed asset accounting record
- Taking an inventory
- Property controls
- Perpetuating the property accounting system
Extended/Detailed Seminar Outline
Learning Objectives
- Maximize the Tax Benefits from Your Fixed Assets
- Make a Smooth Transition from a Manual to a Computerized Accounting System
- Accurately Appraise the Value of Your Assets in Today’s Economy
- Set up Paperwork, Forms, and Systems to Get Timely, Accurate Information
Introduction
- Motivate the Participant by Defining and Discussing Who the Stakeholders Are
- Understand the Penalty for Not Reconciling Physical Assets with Perpetual Records
- Understand How F/A Accounting Relates to Corporate Valuation
Fixed Assets in Financial Statements
- Understand GAAP
- Better Understand the Various Methods of Depreciation and Related Rules
- Realize That Leased Assets Must Be Accounted For
Fixed Assets on Income Tax Returns
- Better Understand the Tax Codes Affecting Fixed Assets
- Understand What Special Tax Situations Are
- Have a Better Chronological Perspective on Tax Legislation
Fixed Assets on Property Tax Returns
- Understand Ad Valorem Taxes
- Realize Licenses Are a New Term for Taxation
- Discover Potential Tax Savings, Previously Overlooked
- Understand How to Classify and Distinguish between Personal and/or Real Property
Fixed Asset Records and Risk Management (Insurance)
- Understand Risk Management Concerns
- Understand the Difference between Accounting Book Value and Replacement Costs
- Understand What Is Needed from F/A Accounting to Substantiate an Insurance Loss
Corporate Policy and the Property Accounting Manual
- Understand the Requirements of an F/A Property Manual
- Understand the Content of an F/A Property Manual
- Have Reviewed a List of All Reference Materials and Related Documentation That Went into the Preparation of This Course and That Need to Be Provided for in an F/A Property Manual
Record Keeping and Automated Reporting Systems (FAMS)
- Understand Which Data Should Be Captured and for Whom
- Understand the Variety of Possible F/A Related Reports
- Understand Aspects of Record Keeping, System Requirements, Software Features, and Database Considerations
- Have Insight into Vendor Concerns and Considerations
- Be Aware of the Available Software and Who Is Using It
Capturing Fixed Asset Data
- Understand and Explore F/A Property Controls
- Have New Insights on How to Have People Become More Cooperative, Informing F/A Accounting about Adds, Deletes, and Moves
- Understand the Features and Requirements of CIP
- Understand CIP Data Reference Requirements
- Understand CIP Disposition Codes and How to Handle Indirect Costs
Property Controls
- Have a Better Appreciation of How to Classify Assets
- Understand What Assets Can Be Grouped or Pooled and What Assets Might Need to Be Kept Separate to Facilitate Control
- Know the Newest Ways to Tag and Physically Control Assets
- Understand What Responsibility Accounting Means
- Be Able to Answer the Question: What Should or Could Be Expensed vs. What Could or Should Be Capitalized
Taking Inventories
- Understand the Latest Techniques of F/A Identification and Inventory in the Context of Current Federal Laws
- Understand How to Make F/A Management a Corporate Activity
- Understand How to Determine F/A Unitization and Value (i.e., Condition Codes)
- Realize That Taking an F/A Inventory Can Be Fun and Exciting (If Treated as a Scavenger Hunt)
Converting to a New F/A System
- Understand Testing Procedures and Theories
- Realize the Benefits of a Steering Committee
- Be Leery of Conversion Defaults
- Appreciate the Importance of Implementation Training
Start and End times: first day - 8:30am-5pm, all other days 9am-5pm unless otherwise specified. Your registration confirmation notice will confirm the hotel/conference center for the seminar for which you registered. The information included on this page is all the information available on this seminar. Please use form below to register only. To request information that is not included above please send an email to
. Remember to specify the complete seminar number about which you are requesting information.
For information about bringing a course to your site please call 1-919-847-0331 or email the registry at
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** Online Registration & Fee Information ** Please use form below to register only. To request information that is not included above please send an email to
. Remember to specify the complete seminar number about which you are requesting information.
Select date/location & complete form below. Then, click on 'Send'
Additional Information:
After submitting your online registration you will receive registration confirmation and invoice within 7-10 business days. You may pay by credit card or check. Confirmation information will also include location and other pertinent course information.
Always state priority code XNBB to your customer service representative when registering directly by phone.
Note: Prices are subject to change without notice. To confirm the price of your session, select the session above and click “Send”. Discounts apply for groups of two or more people. Call for details. Federal government employees are eligible for special GSA pricing for many seminars.
AMA's main conference centers
Seminars scheduled for the cities below are held at the locations listed below. For location information for other cities in which AMA seminars are held please call or email for information.
New York
AMA executive Conference Center
1601 Broadway New York, NY 10019
American Management Association (Located in the same building as the Crowne Plaza Hotel) 1601 Broadway On Broadway and 48th Street near Times Square. Entrance is on 48th Street.
Chicago
AMA executive Conference Center (adjacent to the Marroitt O'Hare)
8655 west higgins rd
Chicago, IL 60631
San Francisco
AMA executive Conference Center is located in San Francisco Marriott Hotel
55 Fourth Street 2nd Level
San Francisco, CA 94103
Atlanta
AMA Executive Conference Center
Address: 1170 Peachtree Street Ne Cnr Peachtree & 14th (3rd Flr)
City, State, Zip: Atlanta, GA 30309
Washington, DC
Arlington, Virginia
2345 Crystal Drive, Suite 200
Arlington, VA 22202
If you are not paying via credit card, you will receive an invoice with payment instructions.
Cancellation Policy:
If you cannot attend a seminar you can contact AMA in advance to transfer to a future session, or you can send someone to take your place. If you need to cancel your attendance, AMA will give you a complete refund if you cancel more than three weeks before your seminar begins. To cancel, simply email us at
. If you cancel with less than three weeks’ advance notice, you will be liable for the entire seminar fee. Once your payment has been received, you may request a courtesy transfer to use at any future AMA seminar of equal or lesser length. The courtesy transfer must be used within one year of the date of your originally scheduled seminar. In fairness to all attendees, if you do not attend a seminar session for which you are confirmed and do not contact AMA to cancel in advance, you will be charged the entire seminar fee.
AMA grants courtesy transfers to people who cannot attend their scheduled sessions. You can use a courtesy transfer for any seminar of equal or lesser length than the original seminar. You must use your courtesy transfer within one year of the date of your originally scheduled seminar.
AMA guarantees the quality of our seminars. If, for any reason, you are not satisfied with a seminar for which you have paid, AMA will give you credit toward another seminar of comparable price or will refund your fee.
You can also register by emailing your registration information to us at
or calling us at 919-847-0331.