Fixed Assets Management and Control Training Course
Fixed Assets Management is a fundamental aspect of financial and operational oversight within organizations.
This instructor-led, live training (available online or onsite) is designed for intermediate-level finance and accounting professionals who aim to effectively manage, value, and audit fixed assets in accordance with accounting standards and regulations.
By the conclusion of this training, participants will be able to:
- Comprehend the lifecycle and classification of fixed assets.
- Apply local and international accounting standards for asset valuation and depreciation.
- Oversee fixed assets using appropriate controls, tools, and procedures.
- Ensure compliance with legal and tax frameworks pertinent to asset management and reporting.
Course Format
- Interactive lectures and discussions.
- Extensive exercises and practice sessions.
- Hands-on implementation in a live-lab environment.
Course Customization Options
- To request customized training for this course, please contact us to arrange details.
Course Outline
Introduction to Fixed Assets
- Concept and classification of fixed assets.
- Importance in financial and operational management.
- Applicable accounting standards in Ecuador (IFRS – Section 17 / IAS 16).
- Lifecycle of a fixed asset.
Registration and Control of Fixed Assets
- Policies for asset acquisition and capitalization.
- Assignment and labeling.
- Management tools and software.
- Role of physical inventory.
Valuation and Depreciation
- Depreciation methods (straight-line, units of production, etc.).
- Revaluation and impairment of assets.
- Practical depreciation calculations.
- Accounting and tax treatment.
Legal Framework and Auditing
- SRI regulations related to fixed assets.
- Internal control and asset auditing.
- Supporting documentation and records management.
- Common findings in audits.
Disposal, Sale, and Final Handling
- Procedures for asset retirement.
- Sale, donation, or dismantling.
- Tax and accounting aspects.
- Closing reports and reconciliations.
Practical Cases and Local Application (Guayaquil)
- Common issues in institutions in Guayaquil.
- Case studies from public and private companies.
- Inventory simulation and asset control.
- Best practices in the region.
Summary and Next Steps
Requirements
- A solid understanding of basic accounting principles.
- Experience with financial reporting or asset tracking.
- Familiarity with IFRS or local accounting standards.
Target Audience
- Accountants.
- Finance professionals.
- Auditors and internal control personnel.
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Course - Planning and Risk Assessment
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