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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.
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.
Introduction to British Standards Institute's PAS 55
Introduction to ISO 55000
Asset management objectives
Asset management benefits
Requirements of PAS 55 for effective asset management
Risk management and asset management
Making investment decisions
Time value of money
Net Present Value (NPV)
Internal Rate of Return (IRR)
Other tools for valuing investments
Measurement and recognition of fixed assets
Classes of long lived assets
Construction of tangible assets for internal use
Measurement and recognition of investment property
Measurement and recognition of intangible assets
Required disclosures
Special topics in accounting for fixed assets
Capitalization of borrowing costs
Decommissioning costs
Costs incurred subsequent to purchase
Leasehold improvements
Accounting for leased assets
Subsequent expenditures on intangibles
Accounting for assets under fair value model
Concept of component depreciation
Depreciation methods
Definition and rules of asset impairment
Impairment measurement and accounting
Impairment indicators and computation
Accounting for disposing or idling of assets
Averest Training Certificate of Completion or delegates who attend and complete the training course
This course is certified by:
This Course can be customized delivered to a group at your facility saving time and money.