Tangible / Fixed Assets

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GRADE 12 - Tangible / Fixed Assets

GRADE 11 - Tangible / Fixed Assets

GRADE 10 - Tangible / Fixed Assets

Interpretation and reporting on the movements of fixed assets:

  • age of assets
  • replacement rate
  • life span of assets.

Integration of GAAP principles relating to fixed assets

Integration of ethical issues relating to fixed assets

Integration of internal audit and control processes relating to fixed assets

Understanding the concept of a tangible/fixed asset register Recording the acquisition of tangible/fixed assets

Calculation and recording of depreciation

  • on cost price (straightline method)
  • diminishing balance method
  • Understanding how tangible/fixed assets are recorded when they are fully depreciated Recording the disposal of tangible/fixed assets (cash, credit, trade-in):
  • at the beginning of a financial year
  • during a financial year
  • at the end of a financial year.

Integration of issues of internal control - control measures over fixed assets

Integration of ethical issues relating to fixed assets - responsible use of fixed assets







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