Fixed Asset Accounting: Fourth Edition

Author: Steven Bragg


Book Description
Fixed assets can be one of the largest asset groups within an organization, and requires special accounting that differs from the accounting used for any other assets. The Fixed Asset Accounting book comprehensively addresses every GAAP and IFRS accounting rule related to these crucial assets, including interest capitalization, asset retirement obligations, depreciation, impairment, and disposal. The book delves into many other areas of interest to the accountant, including the record keeping, controls, policies and procedures, measurements, asset tracking, and auditing procedures related to fixed assets. In short, Fixed Asset Accounting is the go-to source for all accounting issues related to fixed assets. [237 pages]

Table of Contents

Chapter 1. Introduction to Fixed Assets
Chapter 2. Capital Budgeting Analysis
Chapter 3. Initial Fixed Asset Recognition
Chapter 4. Interest Capitalization
Chapter 5. Asset Retirement Obligations
Chapter 6. Depreciation and Amortization
Chapter 7. Subsequent Asset Measurement
Chapter 8. Fixed Asset Impairment
Chapter 9. Fixed Asset Disposal
Chapter 10. Fixed Asset Disclosures
Chapter 11. Not-for-Profit Fixed Asset Accounting
Chapter 12. Fixed Asset Record Keeping
Chapter 13. Fixed Asset Controls
Chapter 14. Fixed Asset Policies and Procedures
Chapter 15. Fixed Asset Tracking
Chapter 16. Fixed Asset Measurements
Chapter 17. Fixed Asset Auditing


Steven Bragg has created a well organized and concise text that clearly explains the key aspects of fixed asset accounting, covering topics ranging from capital budgeting to accounting systems, controls and compliance within both the GAAP and IFRS frameworks. The chapter on capital budgeting provides the reader with an excellent methodology to use in determining if a fixed asset will add to company value and should in fact be acquired. This book will serve as an excellent resource for the accounting and finance professional. -- Tim Scullin, CPA, CFO of SIG Sauer, Inc.

Steven Bragg's new book on fixed asset accounting was a wonderful read. I found that this book was not only adequate for U.S. GAAP, but was also very forward thinking with regards to IFRS standards. As convergence becomes more and more of a reality, it is important that accounting students, accounting professionals and CPAs alike realize the ramifications and intricacies that exist. Steven's ability to present information in a concise manner, while not employing generalities, allowed for a smooth read and a more than adequate refresher for even the most experienced CPA. -- Mark Stiles, CPA

Those looking for a comprehensive guide to fixed asset accounting will find Steven's newest book a great find. It is the most comprehensive guide to fixed asset accounting that I have ever seen. Clear examples and tips are used to supplement the well-written text. Accounting terms are conveniently defined within the chapters. This book should be on the short list of anyone with an interest in fixed asset accounting. -- James O. Bailey, CPA.EA, Member, Ann Arbor Properties LLC

Steven has written an excellent overview and refresher of fixed asset accounting. Importantly, he covers the topic from both the IFRS and U.S. GAAP perspectives, and addresses many critical areas such as capital budgeting, impairment testing, asset retirement obligations, and internal controls. He uses practical examples to illustrate the key points and principles, and provides asolid framework of policies and procedures that can be readily implemented. -- Edward J. Manley, Controller, Brooks Instrument