Fixed assets management and accounting is a very important topic for any organization. Fixed assets are the major resources used to produce products and generate future benefits. This course discusses the management and accounting of these assets and it is based on the 'British Standard Institute' 'Publicly Available Standard' (PAS 55). This course includes the 28 points of PAS 55 which help maximize utilization of fixed assets and 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 for fixed assets cover 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 like NPV, IRR and other capital budget comparative tools used to decide whether to acquire, replace or refurbish assets.
The accounting part is based on 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. Moreover, the course covers various depreciation methods and assets impairment rules, measurement and accounting.
The course uses a mixture of presentations by the consultant and the participants. Also in the management section there are questions and answers. The accounting section includes exercises to be solved and amounts to be calculated regarding capitalization, depreciation or impairment. Also, classification of assets in the balance sheet is included in exercises.
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.