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Fixed Asset Controls #376526

Course Overview

Credit

Amount

CPA

Course Author: Steven M. Bragg, CPA Field of Study (CPA): Accounting

Course Description

Course publication/revision date: This course was updated on 6/14/2026.

Fixed assets are one of the largest investments on a company’s balance sheet, and yet they tend to be poorly controlled. This presents a risk of reporting incorrect asset valuations. In the Fixed Asset Controls course, we cover many types of controls, including those pertaining to fixed asset authorizations, valuation, depreciation, disposal, and theft. We also point out how to reduce the cost of these controls. The intent is to provide the user with a comprehensive set of controls to form the basis for a proper fixed asset accounting system.

Table of Contents

Fixed Asset Controls1

Introduction	1
The Fixed Asset Register	1
Ghost Assets	2
Zombie Assets	2
The Depreciation Problem	3
Fixed Asset Existence Controls	3
Controls Over the Location of Fixed Assets	3
The Fixed Asset Physical Count	5
Fixed Asset Authorization Controls	6
Fixed Asset Valuation Controls	8
Fixed Asset Depreciation Controls	9
Fixed Asset Disposal Controls	10
Fixed Asset Theft Controls	10
Laptop Computer Controls	11
Fixed Asset Record Controls	11
Reducing the Cost of Fixed Asset Controls	12
Summary	13
Review Questions	14
Answers to Review Questions	15

Glossary16

Index17

Course Details

Author: Steven M. Bragg, CPA

Steven Bragg, CPA, has been the chief financial officer or controller of four companies, as well as a consulting manager at Ernst & Young. He received a master’s degree in finance from Bentley College, an MBA from Babson College, and a Bachelor’s degree in Economics from the University of Maine. He has been a two-time president of the Colorado Mountain Club, and is an avid alpine skier, mountain biker, and certified master diver. Mr. Bragg resides in Centennial, Colorado. He has written more than 300 books and courses, including New Controller Guidebook, GAAP Guidebook, and Payroll Management.

Publication/Revision Date: 6/14/2026

Course Exam Questions (online): 5 (multiple-choice)

Program Delivery Method: NASBA QAS Self-Study

Available Formats of Course Text: Downloadable PDF, Printed/Mailed

Course Level, Prerequisites, and Advance Preparation Requirements

License	Course Level	Prerequisites	Advance Preparation Requirements
CPA	Overview	None	None

* This program is appropriate for professionals at all organizational levels.

Sponsor ID Numbers

National Registry of CPE Sponsors I.D.: 107615

State CPA Board Sponsor ID Numbers (where applicable)

Florida Division of Certified Public Accounting: 0004761

Hawaii Board of Public Accountancy: 14003

New York State Board for Public Accountancy: 002146

Ohio Accountancy Board: CPE .51 PSR

Pennsylvania State Board of Accountancy: PX178025

Texas State Board of Public Accountancy: 009349

Learning Objectives

As a result of studying the course material, you should be able to meet the objectives listed below:

Recognize the distinction between ghost assets and zombie assets.
Identify the contents of a fixed asset register.
Specify the different types of fixed asset controls.