Course details

Overview ?

Course Overview

Fixed asset accounting and management are fundamental to many sectors, both governmental and business, especially in fields such as construction, telecommunications, utilities, and infrastructure projects. These sectors rely on fixed assets as primary resources for production and future profit generation. Managing and recording transactions for these fixed assets is crucial for establishing evaluations and preparing institutional reports. Since these assets do not retain their initial book value, proper accounting treatment is essential to detail the asset’s life cycle, including acquisition, depreciation rates, and impairment.

The Fixed Asset Management and Accounting Program will enhance your skills in managing fixed assets, evaluating performance, implementing management plans, enabling management tools, and understanding fixed asset policies, strategies, and audits. The program also presents best international practices for making informed managerial and technical decisions about asset acquisition, replacement, or renewal.

This training course is designed to meet the needs of financial department trainees, providing a comprehensive understanding of fixed asset management and accounting. It covers the following aspects:

Administrative and accounting methods for fixed assets based on International Financial Reporting Standards (IFRS)
International standards for fixed asset management and accounting, and evaluation methodologies for transitioning from cash to accrual basis
Modern trends in managing, evaluating, and analyzing fixed assets, and asset control and auditing
Performance evaluation methodologies, improvement techniques, and management plan implementation, including building asset management strategies
Fixed asset life cycles and decision-making techniques such as IRR and NPV
Various impairment techniques, asset impairment rules, measurement, and accounting

Course Objectives

This training course aims to equip participants with the necessary skills and knowledge for understanding fixed asset management and accounting. Participants will gain:

Understanding of fixed assets and modern management trends
Knowledge of contemporary standards for evaluating and auditing fixed assets efficiently and effectively
Insights into the latest methods for classifying fixed assets
Understanding of accounting treatments for revaluation gains and losses
Skills in preparing reports for operations throughout the asset’s life
Knowledge of accounting rules for depreciation and impairment of long-term assets
Understanding of asset inventory rules, fair value determination, and financial statement presentation

Methodology

The training is delivered interactively, suitable for individuals with varying levels of financial knowledge and accounting experience in fixed asset management. The course combines workshop principles, formal presentations, practical examples, and real-world scenarios. Interactive group exercises support and enhance the application of learning points, guided by the instructor’s extensive practical knowledge.

Impact on the Organization

Participants will benefit their organization through acquired knowledge and skills, such as:

Ensuring employees understand fixed asset management and accounting fundamentals, enabling professional job performance
Gaining knowledge on performance evaluation and improvement, aiding in implementing management plans
Understanding accounting rules for depreciation and long-term asset impairment
Enhancing decision-making processes with asset evaluation strategies
Comprehending international standards for managing and accounting fixed assets
Preparing reports for operations throughout the asset’s life

Impact on the Trainee

The training program aims to develop participants' understanding of:

Fixed asset management and accounting basics, essential for measuring and evaluating institutional performance
Latest trends in fixed asset management according to international standards, enhancing job performance quality
Effective and efficient application of fixed asset management strategies
Analyzing and evaluating institutional fixed assets, contributing to decision-making processes
Acquiring new skills for ambitious career growth

Target Audience

This course suits a wide range of employees in both profit and non-profit organizations involved in fixed asset management and financial administration, including:

Fixed asset administrators
Heads of purchasing, sales, import, and export departments
Financial accountants
Supervisors, accountants, and purchasing supervisors
Coordinators and financial controllers
New employees responsible for fixed asset management
Internal auditors and operations managers
Anyone interested in this course for skill and expertise development

Course Topics

Day 1: Introduction to the Concept and Nature of Fixed Assets

Definition and primary classifications of assets
Determining fixed asset costs
Decision-making for asset purchases and book recording
Comparing asset purchase, leasing, or manufacturing decisions
Acquiring fixed assets through cash purchases
Asset acquisition via leasing
Preparing asset registers
Assets under construction

Day 2: Fixed Asset Accounting According to International Standards

Nature and methods of fixed asset depreciation
Decisions for asset depreciation, replacement, and disposal
Accounting rules throughout the asset’s life
Asset maintenance and repair operations
Partial or complete sale of fixed assets
Methods for replacing and disposing of assets
Disposal of obsolete assets
Asset control

Day 3: Asset Management and Evaluation

Objectives and benefits of asset management
Risk management and asset management
Managing and preserving assets
Foundations and methods for asset evaluation
Global standards and models for asset evaluation
Accounting for revaluation gains and losses
Handling asset impairment and damage
Asset management and evaluation according to international standards

Day 4: Making Investment Decisions for Fixed Assets

Investment decision-making processes and estimating investment value
Financial value of time
Net Present Value (NPV)
Internal Rate of Return (IRR)
Fair value in international reporting standards
Three-level fair value structure (FV)
Valuation methods in IFRS
Measurement and recognition of investment properties

Day 5: Presenting Assets in Financial Statements According to International Standards

Linking assets to general accounts
Asset inventory
Handling asset deficits and surpluses
Converting inventory items to assets or vice versa
Presenting assets at cost
Presenting assets at net value
Presenting assets at fair value
Disclosure of fixed assets in financial statements

Day 1

Day 2

Day 3

Day 4

Day 5

Training Methodology

Professional Financial and Accounting Management in Asset Administration

Course details

Have a look too on these courses

Accounts Payable From Accounting to Management (Planning, Organizing and Achieving Best Practices)

Corporate Finance

Finance for Managers

International Financial Reporting Standards

Budgeting, Forecasting and the Planning Process

The Financial Excellence Programme

Main Pages

Quick Access

More Details

Contact Info