Fixed Assets Accounting
and Management Training 2021
07 - 09 July 2021
Register Now! Few Seats Available!
Fixed assets management and accounting is critical for any organization as fixed assets are the major resources used to produce products and generate future benefits. This course includes the 28 points of PAS 55 which help maximize the utilization of fixed assets and which are divided into: fixed assets policy, strategy, management enablers and controls, implementation of management plans, performance assessment and improvement, and management review.
The management and accounting of fixed assets covers all life-cycles of fixed assets from creation or acquisition to utilization and maintenance until renewal or disposal. The management part also includes decision making tools such as NPV, IRR and other capital budget comparative tools used to decide whether to acquire, replace or refurbish assets.
The accounting part is based on the International Financial Reporting Standards (IFRS), mainly standard number 16 for property plant and equipment, and IFRS 38 for intangibles. The course covers capitalization rules for fixed assets and intangibles, and rules for measuring assets at fair value. In addition, the course covers various depreciation methods and assets impairment rules, measurement and accounting.
By the end of the course, participants will be able to:
- Apply the 28 point requirements to establish a whole life asset management system according to PAS 55 and ISO 55000
- Evaluate investments in fixed assets according to Net Present Value (NPV), Internal Rate of Return (IRR) and other methods
- Recognize and correctly measure fixed assets and intangible assets under International Financial Reporting Standards (IFRS)
- Justify the accounting and reporting for transactions throughout the life of the assets
- Account properly for impairment, disposals, and sales of long lived assets
- Fixed assets professionals including supervisors,
- account managers,
- purchasing and facility supervisors and coordinators,
- Finance Officer, financial controllers,
- New employees handling fixed assets,
- Internal auditors,
- Maintenance assistants and managers,
- Operations managers.
- Applying assets management
- Increasing assets utilization
- Making investment decisions
- Formulating policies and procedures
- Utilizing assets information system
- Monitoring assets performance
- Applying capitalization rules
- Accounting for assets per IFRS
End of the workshop
IN HOUSE AND ONLINE TRAINING
While both In-House and Online training can present with cost-effectiveness and time-efficacy, there are some very specific differences between in-house courses and those based online.
The demand for additional courses by individuals or groups of people is increasing. Still, it depends entirely on the preferences of a person what type of training he or she wants to receive. Online courses and in-house training carry some similarities but they are considered to exhibit some very pivotal differences too. Despite that, both types of learning can be really beneficial for attendees.