What you'll learn



Overview

of PPE
 Cost of Assets
 Depreciation and its methods
 Capitalization of Interest
 Disposal of Asset
 Non-Monetary Exchanges of Assets
 Natural Resources and Depletion

Requirements

Accounting background would be desirable, but not a must

Description

Master the intricacies of US GAAP ASC 360 and elevate your accounting expertise! This comprehensive course on Property, Plant, and Equipment (PPE) is designed to provide you with a clear understanding of how tangible, long-term assets are accounted for in compliance with US GAAP. Whether you are a student, professional accountant, or finance enthusiast, this course will enhance your knowledge of the key principles and practical applications of ASC 360.Through engaging lessons, practical illustrations, and practice questions, you will develop the skills to accurately account for acquisition, usage, and disposal of assets. Join us and unlock a deeper understanding of PPE—an essential aspect of financial reporting and accounting.What You'll Learn:

Overview

of PPE: Key characteristics, recognition, and depreciation.Cost of Assets: Acquisition costs and post-acquisition improvements.Depreciation and Its Methods: Straight-line, declining balance, and more.Capitalization of Interest: Treatment of interest costs during construction.Disposal of Assets: Proper accounting for asset disposal.Non-Monetary Exchanges of Assets: Rules and accounting treatment.Natural Resources and Depletion: Understanding natural resource accounting.Explore Topics:AccountingFinancial ReportingCourse ContentVideo 1:

Overview

Definition of PPE as tangible, long-term assets used in production or services.Recognition at cost, including acquisition and preparation expenses.Capitalization and depreciation over useful life.Depreciation methods: Straight-line, declining balance, and more.Impairment testing when carrying value exceeds recoverable amount.Recognizing gains or losses upon disposal based on carrying value.Video 2: Cost of AssetsAcquisition and Post-Acquisition Costs:Land & BuildingPlant, Machinery, Equipment, Furniture & FixturesCapital vs. Expense distinctionCost of improvements and replacements capitalizationRepairs accountingVideo 3: Depreciation MethodsDetailed understanding of depreciation.Types of depreciation: Physical vs. Functional.Real-world illustrations.Practice questions to reinforce learning.Video 4: Capitalization of InterestCosts related to the construction of PPE.Capitalization of interest costs explained.Practice question to test your understanding.Video 5: Disposal of AssetsAccounting treatment for asset disposal.Practical steps and illustrations to apply concepts.Video 6: Non-Monetary Exchanges of AssetsDefinition and general rules.Accounting for involuntary conversions of non-monetary assets.Practice questions to ensure concept clarity.Video 7: Natural Resources and DepletionAccounting for natural resources.Understanding and calculating depletion of natural resources.

Overview

Section 1: Introduction
Lecture 1

Overview

: US GAAP ASC 360 Property, Plant & Equipment's
Section 2: Cost of Assets
Lecture 2 Cost of Assets
Section 3: Depreciation Methods
Lecture 3 Depreciation Methods
Section 4: Capitalization of Interest
Lecture 4 Capitalization of Interest
Section 5: Disposal of Assets
Lecture 5 Disposal of Assets
Section 6: Non-Monetary Exchanges of Assets
Lecture 6 Non-Monetary Exchanges of Assets
Section 7: Natural Resources and Depletion
Lecture 7 Natural Resources and Depletion
This course is intended for working professionals as well as students who wish to gain an understanding of US GAAP

Homepage:

https://www.udemy.com/course/us-gaap-asc-360-property-plant-equipments/