Fixed Asset Accounting and Management

The programme

Programme overview

Ratomac Fixed Asset Accounting and Management encompasses the strategic tracking and financial treatment of physical assets that are pivotal for a company’s operation. This course unveils how to manage these assets, from acquisition to disposal, ensuring they deliver the best possible value throughout their lifecycle.

Who should attend

Who is this programme for?

• Fixed Asset Managers, Supervisors, and Account Managers
• Financial Managers and Accountants
• Purchasing and Facilities Supervisors
• Entrepreneurs and Start-Up Founders
• Department Heads and Executives
• Financial Analysts and Internal Auditors
• Investors and Maintenance Managers

Learning outcomes

What you will learn

• Acquire a solid understanding of fixed asset accounting principles and management strategies, grounded in IAS 16 and IAS 38
• Appreciate the need for prudent utilisation of fixed assets to boost profitability
• Learn accounting treatments for fixed assets and integrate them into financial statements
• Understand asset acquisition methods and manage associated costs
• Discover how effective asset management can streamline operations and maximise returns for stakeholders
• Apply the global ISO 55000 asset management standard and current asset-tracking technology to strengthen asset governance

Personal Benefits

• A deeper comprehension of the nuances between financial and fixed asset accounting
• Enhanced accounting acumen with practical experience in fixed asset treatments and recording
• Advanced knowledge and skills, providing an edge in financial reporting and management
• Improved decision-making and risk assessment capabilities in relation to asset management

Explore the programme

Detailed programme outline

• Asset and financial reporting mechanisms
• Categorisation and inventory of assets
• The significance of fixed asset accounting, grounded in IAS 16 (Property, Plant and Equipment) — the international accounting standard underpinning recognition, measurement, and disclosure of fixed assets
• Financial treatments for fixed assets, including Asset Retirement Obligations (AROs) where decommissioning or restoration costs apply
• Diverse valuation approaches: absolute and relative value models
• Determining the value of repairs, maintenance, and improvements
• Asset valuation specifics for land and buildings
• Critical factors in continuity planning for assets
• Scheduling for continuity plans and associated costs
• Conducting gap analysis in asset management
• The need for depreciation in asset accounting
• Variables influencing depreciation expense
• Various methods for calculating depreciation
• Tracking fixed assets throughout their lifecycle
• Strategies for asset labelling and maintenance management
• Current asset-tracking technology: barcodes, RFID, GPS, and IoT-enabled tracking for real-time visibility, faster audits, and stronger compliance
• Managing various types of asset transfers
• Protocols for departmental and interdepartmental asset transfers
• Processes for asset retirement and disposal
• Classification of intangible assets
• Contrasting tangible and intangible asset accounting
• Methods for amortisation and valuation of intangible assets, grounded in IAS 38 (Intangible Assets)
• The overarching concept of fixed asset management
• Measuring asset efficiency through turnover ratios
• Life cycle management and cost considerations for fixed assets
• Applying the ISO 55000 international asset management standard for whole-of-life asset governance
• Evaluating fixed asset investments using Net Present Value (NPV) and Internal Rate of Return (IRR)

Learning approach

How you will learn

Our diverse instructional approaches ensure effective learning:

– Lectures & Presentations: Engage with expert-driven, stimulating content.– Course Material: Access well-crafted supporting resources.– Group Work: Collaborate on discussions and case studies for practical insights.– Workshops & Role-Play: Participate in immersive, scenario-based activities.– Practical Application: Focus on applying theoretical knowledge in real situations.– Post-Training Support: Receive extensive support after training for skill implementation.

Discuss your requirements

Dates, duration & arrangements

Contact Ratomac to confirm dates, duration, delivery format, entry requirements and any applicable assessment or certification before booking.