ACC 11 TERM 1 WEEK 4 – 6 Tangible/ fixed assets

TOPIC – Tangible/ 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,
• 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