Financial Accounting: Current Assets vs. Long-Term Assets

Est. Study Time: 1 hours
3 PDCs
3 CEUs


Alongside the accountants at Central Products, you will learn to differentiate between Current and Long-Term Assets, explore Tax Reporting and choose between FIFO and LIFO methods, ultimately become confident in Capitalizing vs. Expensing and with Depreciation Methods. Worth 3 PDCs (SHRM) and 3 CEUs (HRCI).
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Learning Objectives

  • Learn about the different concepts related to current assets, including petty cash, marketable securities and accounts receivable
  • Gain a basic understanding of payment terms, such as 2/10 N30, and how they impact business operations
  • Understand how to choose between FIFO and LIFO methods and apply them correctly to different accounting situations
  • Learn some of the important concepts related to long-term assets, such as capitalizing vs. expensing, tax reporting, depreciation methods, and termination and disposition of assets

I’m looking for continuing education credits, how does that work with the free courses?

You have the option to purchase an accredited course outright and once completed you will then have access to your certificate of completion (credits). Alternatively, you can complete the course for free, and once completed you will be prompted to purchase access to your certificate of completion (credits).

Can I earn free credits?

Yes, you can! We award up to 3 free credits after completing the first few modules of a course. Once you have completed the required modules, your certificate of completion will be available under my courses. In order to access your remaining credits, you will be prompted to purchase.

How quickly do I receive my credits after completing a course?

Immediately, once you have completed you will have access to your certificate of completion/activity ID to submit to your organization to redeem your credits.

How long do I have to complete my course?

You have one year after beginning your course to complete it. After that year, your course will close automatically and no progress will be permitted.

What happens if I fail my course?

Your course will reset and you will be allowed to retake the course until you have met the passing requirements.

Do I earn a certificate of completion?

If you are looking to recertify with HRCI, SHRM, APA, and NASBA/AICPA, we offer a certificate of completion that can be used to redeem continuing education credit with these organizations. However, our courses are not accredited stand-alone and are not a certification in any way.

SHRM: VTR is recognized by SHRM to offer SHRM-CP or SHRM-SCP professional development credits (PDCs). This program is valid for 3 PDCs. For more information about certification or recertification, please visit

HRCI: VTR is a recognized provider of recertification credits. HR Certification Institute® preapproved this program for 3 credits toward aPHR™, PHR™, PHRca™, SPHR™, GPHR™, PHRi™, and SPHRi™ recertification.