CE/CPE Course Information

Accounting for Property, Plant, and Equipment

CPE Credits: 4
Subject Area: Accounting and Auditing
Field of Study: Accounting
Program Level: Overview
Delivery Method: QAS Self-Study
Lesson Version: 18-2
Publication/Revision Date: February 5, 2018
Prerequisites/Advanced Preparation: None
Written By: Michael Kustanovich, CPA

Learning Objectives	After completing this course, you will be able to Account for the initial costs of property, plant, and equipment (PPE) Determine the assets qualifying for interest capitalization and calculate the amount of interest cost to be capitalized Distinguish between subsequent expenditures for PPE that should be capitalized and those that should be expensed as incurred Apply the straight-line depreciation method for allocation of the historical cost of PPE Determine when an item of PPE should be tested for impairment and calculate the impairment loss Account for an exchange of nonmonetary assets and for property dividends Calculate periodic depletion Account for changes in accounting estimates and error corrections in relation to PPE Recognize the main differences between U.S. GAAP and IFRS in relation to PPE. This course was reviewed on August 17, 2023, and no updates or revisions were deemed necessary.
Course Topics	Introduction Initial Measurement Measurement Subsequent to Initial Recognition Disposal of PPE Other Issues -- Change in Accounting Estimate and Error Correction in Relation to PPE Other Issues -- Asset Retirement Obligation Other Issues -- Depletion Other Issues -- Exchanges of PPE (Nonmonetary Assets) Other Issues -- Property Dividends Other Issues -- Financial Statement Disclosures

Learning
Objectives

After completing this course, you will be able to

Account for the initial costs of property, plant, and equipment (PPE)
Determine the assets qualifying for interest capitalization and calculate the amount of interest cost to be capitalized
Distinguish between subsequent expenditures for PPE that should be capitalized and those that should be expensed as incurred
Apply the straight-line depreciation method for allocation of the historical cost of PPE
Determine when an item of PPE should be tested for impairment and calculate the impairment loss
Account for an exchange of nonmonetary assets and for property dividends
Calculate periodic depletion
Account for changes in accounting estimates and error corrections in relation to PPE
Recognize the main differences between U.S. GAAP and IFRS in relation to PPE.
This course was reviewed on August 17, 2023, and no updates or revisions were deemed necessary.

Course Topics

Introduction
Initial Measurement
Measurement Subsequent to Initial Recognition
Disposal of PPE
Other Issues -- Change in Accounting Estimate and Error Correction in Relation to PPE
Other Issues -- Asset Retirement Obligation
Other Issues -- Depletion
Other Issues -- Exchanges of PPE (Nonmonetary Assets)
Other Issues -- Property Dividends
Other Issues -- Financial Statement Disclosures

This QAS self-study course consists of an Audiovisual presentation, a Knowledge Transfer Outline with multiple-choice questions for study and review, and a Qualified Assessment of 20 questions.

This course is designed for your convenience. You may log out at any time during the course; your current position and all work will be saved. The next time you log in, you can resume right where you logged off.

State Board and other CPE agency registrations can be viewed on our sponsor approvals page.

For more information regarding administrative policies such as complaints and refunds, please contact our CPE Department at (800) 874-5346 ext. CPE (273).

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