Certificate in Fixed Assets Accounting and Management Training Courses -

Certificate in Fixed Assets Accounting and Management

Quick Enquiry Download Brochure Call Me Back

Why Attend

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 discusses the management and accounting of these assets based on the British Standard Institute Publicly Available Standard (PAS 55). 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.

Course Methodology

The course uses a mixture of presentations by the consultant and the participants in addition to group and individual exercises, case studies and role plays.

Course Objectives

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

Target Audience

Fixed assets professionals including supervisors, account managers, purchasing and facility supervisors and coordinators, financial controllers, new employees handling fixed assets, internal auditors, maintenance assistants and managers, and operations managers.

Target Competencies

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

Associations

National Association of State Boards of Accountancy (NASBA): Gulf institute Training & Consulting is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website www.learningmarket.org

Visit Website Check the Courses

MPC certified courses by Meirc Training and Consulting are designed for those willing to challenge themselves and go the extra distance. Participants who fully attend an MPC course and successfully complete the test on the last day, will receive a Meirc Professional Certificate (MPC), in addition to the one they receive for attendance. MPC certificates are regionally recognized and can be quite valuable when applying for more senior roles within the organization or outside.

List of Certified Courses

2019 - Location & Date

5 Days Course

No Schedules!
Please Contact Us if you have any queries..

Schedule for Me

2020 - Location & Date

5 Days Course

No Schedules!
Please Contact Us if you have any queries..

Schedule for Me

Fees

Per participant - 2020

USD 5,100

Fees + VAT as applicable

Tax Registration Number : 100239834300003

(including coffee breaks and a buffet lunch daily)

Discount Plans & Cancellations Policy

This course is worth 25 NASBA CPEs.

Course Outline

Asset management function
- Introduction to British Standards Institute’s PAS 55
- Introduction to ISO 55000
- Asset management objectives
- Asset management benefits
- Requirements of PAS 55 for effective asset management
- Risk management and asset management
Evaluating investments in assets
- Making investment decisions
- Time value of money
- Net Present Value (NPV)
- Internal Rate of Return (IRR)
- Other tools for valuing investments
Fair value measurement
- IFRS 13 fair value
- Three level hierarchy for Fair Value (FV)
- Valuation techniques under IFRS
Initial measurement of long lived assets
- Measurement and recognition of fixed assets
- Classes of long lived assets
- Construction of tangible assets for internal use
- Measurement and recognition of investment property
- Measurement and recognition of intangible assets
- Required disclosures
Special topics in accounting for fixed assets
- Capitalization of borrowing costs
- Decommissioning costs
Accounting over the life of the asset
- Costs incurred subsequent to purchase
- Leasehold improvements
- Accounting for leased assets
- Subsequent expenditures on intangibles
- Accounting for assets under fair value model
- Concept of component depreciation
- Depreciation methods
  - Partial-year depreciation
  - Straight-line depreciation method
  - Units of production method
  - Accelerated depreciation methods
  - Revising depreciation rates
Impairment and disposal
- Definition and rules of asset impairment
- Impairment measurement and accounting
- Impairment indicators and computation
- Accounting for disposing or idling of assets

Accounting and Finance

Training Categories