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ProspenAfrica | Training and Consulting Services Provider

Fixed Asset Accounting and Management

5 Day Training

Dates: 22 – 26 July 2024
Locations: Johannesburg, South Africa
Platform: Available In-Class / Online

Price: Available on request

This is a Non-accredited Course

Course Introduction

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.

Course Objectives

By completing this course, participants will:

  • Acquire a solid understanding of fixed asset accounting principles and management strategies.

  • Appreciate the need for prudent utilization 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 maximize returns for stakeholders.

Personal Benefits

Participants will benefit from:

  • 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.

Who should attend?

This course is ideal 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.

Training methodology

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: Fundamentals of Asset Accounting

  • Asset and financial reporting mechanisms.

  • Categorization and inventory of assets.

  • The significance of fixed asset accounting.

  • Financial treatments for fixed assets.

Module 2: Asset Valuation

  • Diverse valuation approaches: Absolute and Relative value models.

  • Determining the value of repairs, maintenance, and improvements.

  • Asset valuation specifics for land and buildings.

Module 3: Asset Continuity Planning

  • Critical factors in continuity planning for assets.

  • Scheduling for continuity plans and associated costs.

  • Conducting gap analysis in asset management.

Module 4: Understanding Depreciation

  • The need for depreciation in asset accounting.

  • Variables influencing depreciation expense.

  • Various methods for calculating depreciation.

Module 5: Asset Records and Maintenance

  • Tracking fixed assets throughout their lifecycle.

  • Strategies for asset labelling and maintenance management.

Module 6: Asset Transfers and Disposal

  • Managing various types of asset transfers.

  • Protocols for departmental and interdepartmental asset transfers.

  • Processes for asset retirement and disposal.

Module 7: Accounting for Intangible Assets

  • Classification of intangible assets.

  • Contrasting tangible and intangible asset accounting.

  • Methods for amortization and valuation of intangible assets.

Module 8: Advanced Fixed Asset Management

  • The overarching concept of fixed asset management.

  • Measuring asset efficiency through turnover ratios.

  • Life cycle management and cost considerations for fixed assets.

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