Get in Touch

Course Outline

Introduction to Fixed Asset Management

  • Defining fixed asset management and its significance
  • Influence on financial reporting and compliance
  • Integration with accounting and ERP systems

Classification and Configuration of Fixed Assets

  • Categorizing fixed assets per IFRS standards
  • Configuring asset parameters in accounting management systems
  • Best practices for accurate asset classification

Creation and Registration of Assets

  • Acquisition methods and initial recognition
  • Capitalizing associated costs
  • Workflows for asset registration and approvals

Control and Monitoring of Assets

  • Identifying and tracking individual asset components
  • Scheduling maintenance and managing the asset lifecycle
  • Mitigating risks through internal control measures

Depreciation and Amortization

  • Overview of common depreciation methods (Straight-Line, Diminishing Balance, Units of Production)
  • Calculating amortization based on asset type and useful life
  • Implications for accounting records and financial statements

Asset Movements and Transfers

  • Procedures for internal transfers
  • Creating delivery and assignment records
  • Approval workflows and maintaining audit trails

Asset Disposal and Write-Offs

  • Reasons and procedures for asset retirement
  • Accounting treatments for write-offs
  • Legal and compliance aspects of disposal

Revaluation, Useful Life Adjustments, and Residual Value

  • Criteria for revaluation and its financial impact
  • Adjusting useful life and residual value estimates
  • Reporting revaluation in financial statements

Summary and Next Steps

Requirements

  • Fundamental knowledge of accounting principles
  • Understanding of financial reporting and regulatory compliance
  • No previous experience in fixed asset management is necessary

Target Audience

  • Asset management staff
  • Accounting and finance specialists
  • Internal auditors and compliance officers
  • Procurement and operations managers
 14 Hours

Number of participants


Price per participant

Testimonials (2)

Provisional Upcoming Courses (Require 5+ participants)

Related Categories