Workshop V: Accounting for Fixed Assets and Capital Projects
In the Fixed Assets and Capital Projects workshop, attendees will be introduced to important information they need to know to purchase and track their department's capital equipment (items with a unit cost of $1,500 or more). Attendees will learn about the correct account numbers to use when ordering capital equipment, how donations of capital equipment are accounted for, how capital items are added to RIT's inventory system, the annual physical inventory process, and how to dispose of surplus equipment. Attendees will also learn about how to fund capital equipment purchases and how to request their department's capital equipment statements. In addition, useful information will be provided about how to track and account for other capital improvement projects. Employees who are responsible for purchasing and tracking their department's fixed assets and capital projects should attend this workshop.
Prerequisite: None, though it is recommended that employees attend Accounting Practices, Procedures & Protocol Workshop I: Introduction to Accounting.
* Completion of this course is required to obtain your Accounting Series Certificate of Completion.
This session is supported by the RIT Accounting Department.
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