The Basics of Accounting for Assets: Long-Term Assets

About this course

This course offers an in-depth look at long-term assets within the realm of accounting. You will gain insights into the classification and management of property, plant, and equipment, as well as the nuances of goodwill and intangible assets. The course covers the principles of depreciation, the matching concept, and the various methods used to allocate the cost of assets over their useful lives. This short course is part of the previous Master Track Certificate in Business Essentials. You may also be interested in a related short course from this program, "Basics of Accounting for Assets."

What you will learn

• Understand the nature of and intangible assets and how they are reported on the balance sheet
• Comprehend the accounting processes involved in the retirement, sale, or exchange of long-term assets
• Identify and classify long-term assets and understand the accounting treatment for such assets