Asset Management Masterclass
4 Day Training
Dates: 03 – 06 February 2025
Locations: Grayston Ridge Office Park, Sandton
Platform: Available In-Class / Online
Price: Available on request
Course Introduction
Asset management is a systematic process of deploying, operating, maintaining, upgrading, and disposing of assets cost-effectively. This comprehensive, case study-based, 3-day Asset Management Masterclass covers the best practices techniques of managing both tangible and intangible assets in a public sector environment.
Prospen Africa’s Asset Management Masterclass also provides delegates with a comprehensive understanding of the application of the requirements of GRAP 17/IAS 16 (Property, Plant and Equipment) and GRAP 11/IAS 11 (Construction Contracts) including the following areas:
Developing a capitalisation framework
Accounting for construction works
Component accounting
Disposal of components
Delegates will work through detailed case studies and examples to master accounting of assets under GRAP and IFRS standards. Delegates will also be given an opportunity to determine the maturity of asset management at their organisation and develop an action plan to improve the maturity.
Course Objectives
Upon completion of this Asset Management Masterclass course, participants will be able to:
Understand the principles of 4th generation Asset Management principles
Draft best practice Asset Management Policy and preventative maintenance plans
Identify internal control considerations on accounting for property, plant and equipment
Identify Property, Plant and Equipment (PPE) and capitalise for PPE under both GRAP 17 and IFRS 16
Account for construction works in terms of GRAP 17 and IFRS 16
Implement component account in terms of GRAP 17 and IFRS 16
Account for disposal of components in terms of GRAP 17 and IFRS 16
Maintain asset registers that are GRAP and IFRS compliant
Deal with all queries raised external auditors and Auditor General
Who should attend?
Asset Accountants & Asset Managers
Internal & external auditors
Finance Managers and Accountants
Project Accountants
Facilities Managers
Operations Managers needing an understanding of Asset Management principles
Training Methodology
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.
Training Outline
Module 1 – 4th Generation Asset Management
Definition of 4th generation Asset Management
Asset Management principles
Statutory requirements about Asset Management in terms of PFMA and MFMA
Infrastructural asset considerations
Internal control considerations on the management of tangible and intangible assets
Risk management plans for assets
Preventative maintenance plans for assets including budgeting principles
Practical exercise: Delegates will complete an Asset Management questionnaire used by the National Treasury to assess the level of maturity of asset management practices at the organisation.
Case Study: Delegates will examine the failure of application of Asset Management principles at an organisation such as Eskom.
Module 2 – Accounting for PPE under GRAP 17 / IFRS 16
Initial recognition of assets including infrastructural assets
Capitalisation framework of Property, Plant and Equipment including distinction between repairs and maintenance expenses and recognition of items of PPE
Elements of cost for construction works.
Measurement after recognition – cost model
Measurement after recognition – revaluation model
Application of depreciation and depreciation methods
Accounting for fully depreciated assets
Signs of impairment and accounting for impairment
Component accounting including disposal of components.
Accounting for insurance proceeds and compensation for impairment
Disclosure of PPE
Practical exercise: Delegates will work through 10 practical exercises on the GRAP topics outlined above.
Case Study: Delegates will review an Annual Report of a public entity. for compliance with the requirements of GRAP 17.
Module 3 – Accounting for Intangible Assets under GRAP 31 / IAS 38
Definition of intangible assets
Initial recognition of intangible assets
Accounting for research and development expenditure
Treatment of website construction costs
Cost and revaluation models for intangible assets
Disclosure of intangible assets
Practical exercise: Delegates will work through 5 practical exercises on the GRAP topics outlined above.
Case Study: Delegates will review an Annual Report of a public entity for compliance with the requirements of GRAP 31
Module 4 – Maintaining GRAP compliant asset registers.
Categories of a GRAP compliant Asset Register
Asset Register software
Common audit queries raised by Auditor General
Frequently asked questions on Asset Regis
Case Study: Delegates will critique asset register of a public entity and identify short comings.
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