New Staff: Practical Application- Auditing Property, Plant, and Equipment

Overview:

This CPE course can be purchased individually or as part of the Audit Staff Essentials - New Staff: Practical Application staff training bundle.

Understand how the fairly straightforward accounting for property, plant, and equipment may have unusual or complex transactions, such as exchanges, capitalized interest, or saleleasebacks.

Learn how to look for events or changes in circumstances that indicate an asset may be impaired and how to communicate with other audit team members about possible signs of impairment they might have observed in their audit areas.

Understand how to carefully scrutinize the underlying documentation for fixed assets to be sure that the costs should be capitalized and not expensed.

Be up to date with the new lease standard to understand the new accounting treatment of leases and the common auditing procedures involved. And appreciate the potential of audit data analytics in the property, plant, and equipment cycle.

Use interactive exercises and case studies to practice applying effective and efficient procedures when auditing fixed assets.