Certified Fixed Assets Professional
Certified Fixed Assets Professional
OBJECTIVES
- Learn up-to-date rules covering the managing and accounting for fixed assets.
- Gain knowledge of depreciation management techniques and how they affect their operations.
- Be able to correctly recognize and measure fixed assets.
- Report fixed assets accurately by adhering to internationally recognized conventions.
- Understand how to manage disposals, impairment, sales, and exchange of assets.
WHO SHOULD ATTEND?
Fixed assets professional, 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
COURSE OUTLINE
Introduction
- Current Developments
- Importance of Fixed Assets Management
- The Role of Engineers, Accountants, Maintenance Personnel, and Project Managers in Fixed Assets
Concepts, Rules and Examples
- Fixed Assets
- Recorded Cost
- Costs Incurred Subsequent to Purchase
- Construction of Tangible Assets for Internal Use
Depreciation Management
- Partial-Year Depreciation
- Depreciation Method Based on Actual Physical Usage? Units of Production
- Other Depreciation Methods
- Asset Retirement Obligations
- Accounting Considerations
Information and Disclosures
- Initial Measurement and Recognition
- Accounting in Subsequent Periods
- Entries to Record Annual Accretion
- Depreciation Computations
- Entry to Record Annual Depreciation
Important Topics – Other Fixed Assets Activities
- Depletion
- Non-monetary Transactions
- Impairment and Disposal
- Other Impairment Considerations
- Long-Lived Assets to be Disposed of by Sale, and Other than by Sale
- Discontinued Operations
- Long-Lived Assets Temporarily Idled
- Reporting and Disclosures
- Capitalization of Interest Costs