Fixed Assets Management
This course discusses the management and accounting of 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
· Apply the 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) and Internal Rate of Return (IRR)
· Recognize and correctly measure fixed assets and intangible assets under (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
Asset management function
· 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
Evaluating investments in assets
· Making investment decisions
· Time value of money
· Net Present Value (NPV)
· Internal Rate of Return (IRR)
· Other tools for valuing investments
Fair value measurement
· IFRS 13 fair value
· Three level hierarchy for Fair Value (FV)
· Valuation techniques under IFRS
Initial measurement of long lived assets
· 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
Accounting over the life of the asset
· 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
Impairment and disposal
· · Definition and rules of asset impairment
· Impairment measurement and accounting
· Impairment indicators and computation
· Accounting for disposing or idling of 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.