Course Description:
Fixed Assets Accounting and Management is a very significant area for any organization.Fixed assets are the major resources used to produce products and generate future benefits. This course deliberates the accounting and management of these assets based on the ‘British Standard Institute’ ‘Publicly Available Standard’ (PAS 55). The accounting and management for fixed assets cover 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 like NPV, IRR and other capital budget comparative tools used to decide whether to acquire, replace or refurbish assets. The accounting part is based on IFRS, mainly standard number 16 for property plant and equipment. The course covers capitalization rules for fixed assets, and rules for measuring assets at fair value. Moreover, the course covers various depreciation methods and assets impairment rules, measurement and accounting.

finance and accounting
Course Objectives:
By the end of the workshop, the delegates will be able to:

  • Understand the requirements to establish a whole life asset management system according to PAS 55 and ISO 55000.
  • Recognize and correctly measure fixed assets under International Financial Reporting Standards (IFRS).
  • Justify the accounting and reporting for transactions throughout the life of the assets.
  • Explain the proper accounting for disposals, impairment, and sales of long lived assets.
  • Evaluate investments in fixed assets according to Net Present Value.
  • (NPV), Internal Rate of Return (IRR) and other methods.

Target Audience:
The workshop will be most beneficial to fixed assets professionals:

  • Supervisors.
  • Account Managers.
  • Purchasing and Facility Supervisors and Coordinators.
  • Financial Controllers.
  • New employees handling fixed assets.
  • Internal Auditors.
  • Maintenance Assistants.
  • Managers, and Operations Managers.

Core Competencies:

  • Assets Management.
  • Assets Utilization.
  • Investment Decisions.
  • Policies and Procedures.
  • Assets Information System.
  • Monitoring and Reporting.
  • Capital Budgeting.
  • Capitalization Rules.
  • Accounting per IFRS.