Fixed Asset Management and Compliance

• Basic understanding of accounting principles
• Familiarity with financial reporting and regulatory compliance
• No prior experience with fixed asset management is required

Audience

• Asset management personnel
• Accounting and finance professionals
• Internal auditors and compliance officers
• Procurement and operations managers

Fixed asset management is essential for ensuring operational efficiency, regulatory compliance, and financial sustainability. It involves the classification, tracking, depreciation, and disposal of assets such as machinery, equipment, vehicles, and property.

This instructor-led, live training (online or onsite) is aimed at intermediate-level to advanced-level finance and asset management professionals who wish to optimize asset tracking, control, and compliance with international financial reporting standards (IFRS).

By the end of this training, participants will be able to:

• Classify and configure fixed assets according to IFRS regulations.
• Manage asset creation, acquisition, and capitalization.
• Implement control measures for asset tracking and monitoring.
• Apply appropriate depreciation and amortization methods.
• Process asset movements, transfers, and disposals effectively.
• Ensure compliance with financial reporting and audit standards.

Format of the Course

• Interactive lecture and discussion.
• Lots of exercises and practice.
• Hands-on implementation in a live-lab environment.

Course Customization Options

• To request a customized training for this course, please contact us to arrange.

Introduction to Fixed Asset Management

• Definition and importance of fixed asset management
• Impact on financial reporting and compliance
• Integration with accounting and ERP systems

Classification and Configuration of Fixed Assets

• Fixed asset categorization according to IFRS
• Asset parameterization in accounting management systems
• Best practices for asset classification

Creation and Registration of Assets

• Acquisition methods and initial recognition
• Capitalization of associated costs
• Asset registration workflows and approvals

Control and Monitoring of Assets

• Identification and tracking of asset components
• Maintenance scheduling and lifecycle management
• Risk mitigation and internal control measures

Depreciation and Amortization

• Common depreciation methods (Straight-Line, Diminishing Balance, Units of Production)
• Amortization calculations based on asset type and useful life
• Accounting records and financial implications

Asset Movements and Transfers

• Procedures for internal asset transfers
• Generating delivery and assignment records
• Approval workflows and audit trails

Asset Disposal and Write-Offs

• Causes and procedures for asset retirement
• Accounting treatment of asset write-offs
• Legal and compliance considerations in asset disposal

Revaluation, Useful Life Adjustments, and Residual Value

• Asset revaluation criteria and financial impact
• Adjusting useful life and residual value
• Revaluation reporting in financial statements

Summary and Next Steps