عربي
عربي
Passionately developing careers since 2000.
عربي
عربي
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 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.
Overview
Course Outline
Schedule & Fees
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
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