Certificate in Fixed Asset Management and Accounting

Certificate in Fixed Asset Management and Accounting

Methodology:

This training course utilizes a combination of presentations, with the administrative section including questions and answers. The accounting section involves practical exercises and accounting estimates related to financing, consumption, and depreciation. Additionally, the course includes exercises and asset classifications in budgeting.

Course Objectives:

At the end of the course, participants will be able to:

1. Apply the 28-point requirements to establish a long-term asset management system according to PAS 55 and ISO 55000.
2. Classify and measure fixed and intangible assets correctly according to International Financial Reporting Standards (IFRS) for financial reporting.
3. Understand accounting rules, consumption, and depreciation of long-term assets.
4. Evaluate investments and fixed assets using Net Present Value (NPV), Internal Rate of Return (IRR), and other methods.
5. Targeted audience:

This training course targets all fixed asset managers, including supervisors, accountants, facility managers, procurement officers, coordinators, financial controllers, and new employees responsible for fixed asset management. It also benefits internal auditors, maintenance supervisors, and operations managers.

Training Program Content:

1. Asset Management Operations:

• Introduction to PAS 55 issued by the British Standards Institution.
• Introduction to ISO 55000.
• Objectives of asset management.
• Benefits of asset management.
• PAS 55 requirements for effective asset management.
• Risk management and asset management.
• Investment evaluation in assets.
• Investment decision-making process.
• Time value of money.
• Net Present Value (NPV).
• Internal Rate of Return (IRR).
• Other tools for estimating investment value.
• Fair value measurement.
• Fair value in International Financial Reporting Standards (IFRS) 13.
• Three-level fair value hierarchy (FV).
• Methods for estimating fair value in IFRS.
• Initial measurement of long-term assets.
• Measurement and recognition of fixed assets.
• Types of long-term assets.
• Creation of tangible assets for internal use.
• Measurement and recognition of investment property.
• Measurement and recognition of intangible assets.
• Required disclosures.
• Special topics in fixed asset accounting.
• Capitalization of borrowing costs.
• Costs of idle assets.
• Accounting rules for the entire life cycle of assets.
• Post-acquisition costs.
• Lease asset improvements.
• Accounting rules for leased assets.
• Subsequent costs of intangible assets.
• Accounting rules for assets under fair value model.
• Concept of partial depreciation.
• Different depreciation methods.
• Partial depreciation.
• Straight-line depreciation method.
• Units of production method.
• Accelerated depreciation method.
• Reviewing depreciation rates.
• Asset impairment and disposal.
• Definition and rules of asset impairment.
• Measurement rules and accounting for asset impairment.
• Indicators of impairment and calculations.
• Accounting rules for disposal of impaired assets.