INTRODUCTION FOR ACCOUNTING FOR FIXED ASSETS & ASSET MANAGEMENT
What is Fixed Asset Accounting and Asset Management? In accounting, assets are economic resources or anything of value that is owned by the business and can be measured in monetary terms. Assets help in generating revenue for the business.
Fixed assets are acquired into business with a view that they’ll benefit the firm for many years to come and generally have life for more than a year. Assets are valuable and create value for the business. Businesses dedicate a huge amount of capital to acquiring and maintaining fixed assets.
HOW WILL YOU BENEFIT:
On successful completion of the Fixed Asset Accounting and Asset Management course, participants shall be able to:
- Understand various concepts and terminologies related to fixed assets accounting and management
- Realise the importance of judicious consumption of fixed assets to increase profitability
- Learn about techniques, framework and treatment of fixed assets in the books of account
- Gain an understanding regarding various methods of acquisition of assets and manage costs related to them
- Know how efficient management of assets can avoid delay in production and allow the smooth running of operations
- Comprehend how fixed asset management can be used to give maximum returns to the stakeholders of the business.
WHO MUST ATTEND ACCOUNTING FOR FIXED ASSETS & ASSET MANAGEMENT
- Fixed asset professionals/supervisors/account managers
- Financial managers
- Accountants
- Purchasing and facility supervisors/coordinators
- Budding entrepreneurs, start-up founders
- Departmental heads, managers, executives
- Financial analysts
- Internal auditors
- Investors
- Maintenance managers/assistants
COURSE CONTENT
Topic 1 : Introduction to asset accounting
- Asset reporting, financial reporting
- Classification of assets
- Asset inventory
- Need for fixed asset accounting
- Accounting treatment of fixed assets
Topic 2: Depreciation
- Rationale for depreciation
- Factors affecting depreciation expenses- salvage value, acquisition cost
- Methods for calculating depreciation- straight-line method, written down method, etc.
Topic 3: Asset valuation
- Asset valuation approaches: Absolute value models, Relative value models
- Appraised value, book value
- Valuing repairs, maintenance, additions
- Valuation of land, building, etc.
Topic 4: Asset continuity planning
- Factors in continuity planning
- Planning schedule
- Cost schedule
- Gap analysis
Topic 5 : Transfer of assets
- Types of transfers
- Departmental transfers
- Interdepartmental transfers
- Retirement and disposal
Topic 6: Records and maintenance
- Fixed asset tracking
- Asset lifecycle management
- Asset labelling
- Maintenance management
Topic 7: Fixed asset management
- Concept of fixed asset management
- Measuring fixed assets efficiency- turnover ratios
- Fixed asset life cycle management and life cycle costing
Topic 8: Intangible assets
- Type of intangible assets
- Difference between accounting for tangibles and intangibles
- Amortization
- Valuation
- Accounting treatment of intangible assets
Topic 9 : Case Study
- Group discussion
- Asset computation & calculation – All Section
Q & A Section
End Of Program
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