Budgeting, Reporting and Fixed Assets

Course Description

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.

What Do Participants Learn?

• 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
• Budgeting and Reporting Techniques

Who Should Attend?

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.

What Will the Learning Experience Include?

Phase: 1

Introduce

• Comprehensive pre-program activities include:
• Web-based information forms & surveys completed by attendee.
• Direct consultation with the attendee about the expectations.

• During the training, participants engage in data, activities, and conversations that lead to insight and knowledge.
• Participants learn from expert trainers who have both academic and business experiences.
• Highly applicable training content & instructive activities for adding depth to training topics.
• **A half-day site visit for integrating the experience & plan next steps. Opportunities to provide connections, ideas & support.

Phase: 2

Explore & Practice

Phase: 3

Apply

• Apply & sustain the learning experience by using this ongoing support:
• To ensure participant has new skills or behavior progress.
• Optional, fee-based mentoring & coaching with the trainer.
• Training materials & additional documents (e-books, pdf files, presentations and articles)

• Evaluate your training experience by giving us feedbacks and help us to reach our organizational goals.
• Participant's Evaluation
• Trainer's Evaluation

Phase: 4

EVALUATE