Fixed Assets Practice Exam

Fixed Assets

About Fixed Assets

A fixed asset is a phrase used in accounting to describe assets and property that may not be quickly changed into cash. It is also known as long-lived assets, property, plant, and equipment. Fixed assets are distinct from current assets, which include liquid assets like cash and bank accounts.

Fixed assets management has gained immense popularity across the globe resulting in huge demand for certified professionals.

Why is Fixed Assets important?

Organizations can keep an eye on their machinery and vehicles, evaluate their state, and keep them in excellent operating order with the help of fixed asset management. They decrease lost inventory, equipment breakdowns, and downtime while increasing the lifetime value of an item.

They assist a business in producing its goods or services in order to generate revenue. They have specific tax and financial statement benefits since they are capitalized and depreciated over time.

Fixed assets management certified professionals, executives and managers are in high demand in companies across the globe.

Who should take the Fixed Assets Exam?

• Finance and Accounting managers, senior executives, executives
• Any Professional with Basic Knowledge of Accounts
• Beginner Consultants
• End users
• Accountant

Knowledge and Skills required for the Fixed Assets

Critical thinking and communication skills helps candidate to gain quick success for career in fixed assets.

Fixed Assets Practice Exam Objectives

Fixed Assets exam focuses on assessing your skills and knowledge in concepts and application of accounting and fixed assets management.

Fixed Assets Practice Exam Pre-requisite

There are no prerequisites for the Fixed Assets exam. Candidates who are well versed  in accounting and fixed assets management. can easily clear the exam.

Fixed Assets Certification Course Outline

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

Exam Format and Information

Certification name – Certificate in Fixed Assets
Exam duration – 60 minutes
Exam type - Multiple Choice Questions
Eligibility / pre-requisite - None
Exam language - English
Exam format - Online
Passing score - 25
Exam Fees  - INR 1199