Beyond Spreadsheets: Building an Audit-Ready Fixed Asset Process for Complex Lifecycles
Course Description
Join Nicole Vandervest, FinQuery Accounting Expert, as she reviews fixed asset accounting considerations for organizations reporting under US GAAP or IFRS.
Managing fixed asset lifecycles in spreadsheets leaves your team vulnerable to manual calculation errors, broken depreciation schedules, and painful audit queries when handling backdated entries or impairments. During the presentation, Nicole will explore the complete fixed asset lifecycle for your organization and examine how changes in your fixed asset portfolio throughout the year can impact your business.
Learning Objectives
- Review best practices for managing the complete fixed asset lifecycle from acquisition to disposal.
- Understand the steps, calculations, and journal entries required to record various fixed asset changes and transactions.
- Learn how to produce fixed asset numbers you can trust and defend against audit scrutiny.
On-Demand CPE Credit Eligibility Requirements
- Answer the 3 review questions presented throughout the webinar
- Complete the final assessment with a grade of 80% or higher
- You have 3 attempts to pass the final assessment and until April 30, 2026 to complete it
If you meet all these criteria you will see a green check mark inside the CPE tool icon that indicates your CPE certificate is ready to be downloaded.
Prerequisites
- None
Who Should Attend
Controllers & Assistant Controllers: To ensure internal controls, accuracy in balance sheets, and audit readiness across asset portfolios.
Fixed Asset Accountants & Managers: Professionals directly responsible for maintaining asset registers, running depreciation schedules, and handling disposals or impairments.
Staff & Senior Accountants: Anyone tasked with calculating fixed asset entries, making backdated adjustments, or preparing schedules for financial statements under US GAAP or IFRS.
Finance Directors & CFOs: Leaders looking to reduce organizational risk, eliminate spreadsheet vulnerabilities, and streamline audit cycles.
Internal & External Auditors: Professionals looking to understand best practices and common pitfalls in fixed asset accounting workflows.
Advanced Preparation
None
Presenters
Nicole Vandervest
nicole.vandervest@finquery.com
Technical Accounting Consultant at FinQuery, committed to ensuring financial accuracy and operational efficiency for our clients. Having started her career in audit at Grant Thornton, Nicole brings a disciplined, detail-oriented approach to technical challenges. She is passionate about helping organizations bridge the gap between difficult accounting requirements and streamlined financial reporting.
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On-Demand |
Course Information
| COST | FREE |
| CREDITS | 1.00 hours |
| SUBJECT AREA | Accounting |
| EXPIRES | November 30th, 2027 |
| COURSE LEVEL | Basic |
| DELIVERY METHOD | QAS Self-Study |
Register Below
SPONSOR STATEMENT
FinQuery LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: NASBAregistry.org.
For more information regarding administrative policies such as complaints, please contact CPEinfo@finquery.com.
PROGRAM CANCELLATION POLICY
If a program is cancelled, FinQuery will notify registrants via the email address that they used to register for the program.
On-Demand Webinar
Beyond Spreadsheets: Building an Audit-Ready Fixed Asset Process for Complex Lifecycles
- Review best practices for managing the complete fixed asset lifecycle from acquisition to disposal.
- Understand the steps, calculations, and journal entries required to record various fixed asset changes and transactions.
- Learn how to produce fixed asset numbers you can trust and defend against audit scrutiny.
CPE Requirements & Eligibility
- Instant Certificate: Answer the 3 review questions presented throughout the webinar, and score an 80%+ on the final evaluation to download your certificate.
- Flexible Learning: Pause and resume at your convenience.
- Earning Window: Complete your assessment anytime before November 30, 2027 to claim your 1.0 CPE credit.
Register Now
Learning Objectives
Join Nicole Vandervest, FinQuery Accounting Expert, as she reviews fixed asset accounting considerations for organizations reporting under US GAAP or IFRS.
Managing fixed asset lifecycles in spreadsheets leaves your team vulnerable to manual calculation errors, broken depreciation schedules, and painful audit queries when handling backdated entries or impairments. During the presentation, Nicole will explore the complete fixed asset lifecycle for your organization and examine how changes in your fixed asset portfolio throughout the year can impact your business.
Presenter
Technical Accounting Consultant at FinQuery, committed to ensuring financial accuracy and operational efficiency for our clients. Having started her career in audit at Grant Thornton, Nicole brings a disciplined, detail-oriented approach to technical challenges. She is passionate about helping organizations bridge the gap between difficult accounting requirements and streamlined financial reporting.
Course Details
| Cost | Free |
| Credits | 1.00 hour |
| Subject Area | Accounting |
| Expires | November 30th, 2027 |
| Course Level | Basic |
| Delivery Method | QAS Self-Study |
Who Should Attend
Controllers & Assistant Controllers: To ensure internal controls, accuracy in balance sheets, and audit readiness across asset portfolios.
Fixed Asset Accountants & Managers: Professionals directly responsible for maintaining asset registers, running depreciation schedules, and handling disposals or impairments.
Staff & Senior Accountants: Anyone tasked with calculating fixed asset entries, making backdated adjustments, or preparing schedules for financial statements under US GAAP or IFRS.
Finance Directors & CFOs: Leaders looking to reduce organizational risk, eliminate spreadsheet vulnerabilities, and streamline audit cycles.
Internal & External Auditors: Professionals looking to understand best practices and common pitfalls in fixed asset accounting workflows.
FAQ
What is the difference between a component relationship and a parent asset group?
A component relationship describes the physical parts of an asset. For example, an aircraft may include engines, seats, and avionics. A parent asset group is a reporting structure, such as grouping aircraft, trucks, and delivery vans under transportation. Components show physical relationships, while parent asset groups support financial reporting.
What happens when an asset is impaired?
When an asset is impaired, the company records an impairment loss in the current period, reduces the asset’s net book value, and recalculates future depreciation using the new lower carrying value. For example, if a delivery truck has a $60,000 net book value and its recoverable value drops to $30,000, the company records a $30,000 impairment loss and depreciates the remaining $30,000 over the remaining useful life.
Why can separate book and tax spreadsheets create risk?
Separate spreadsheets often require manual updates and periodic reconciliations. This can lead to differences between book and tax depreciation, missed elections, and audit challenges. A connected process helps teams track book and tax data in one place and produce support more easily.
Disclaimer
Sponsor Statement
FinQuery LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: NASBAregistry.org.
For more information regarding administrative policies such as complaints, please contact CPEinfo@finquery.com.
Program Cancellation Policy
If a program is cancelled, FinQuery will notify registrants via the email address that they used to register for the program.