Back to Basics | Capital Assets
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Capital assets are one of the largest line items in your agency’s financial statements—but they’re also one of the most commonly misunderstood. Missteps in recording, classifying, or disposing of assets can lead to reporting errors, audit findings, or missed opportunities for process improvement.
Join LSL’s Nielsine Sherk, CPA as she walks through the full lifecycle of capital assets—from acquisition to reporting—so your team is ready for year-end and beyond.
She will cover:
The basics: What qualifies as a capital asset and why it matters
Best practices for recording, classifying, and depreciating new acquisitions
How to handle disposals the right way—with the documentation to back it up
Understanding the capital asset rollforward and it’s role in audit prep
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