Certificate in Fixed Assets Accounting and Management Training Course

Why Select this Training Course?

In accounting, assets are the organization’s economic resources or anything of value that the institution won and can get evaluated using monetary terms. Assets also assist in the generation of profits for the organization. Although assets may be classified in various ways, the most frequent categorization is based on the length of time they are held: current and fixed assets. Current assets include debtors and cash inventory held by a firm for less than one year. An organization purchases set assets with the expectation that they would provide long-term value, and the majority have a long-term useful life of more than one year. Therefore, assets are valuable and may increase an organization’s worth substantially. Most organizations expend substantial capital to acquire and maintain fixed assets. For an organization to generate profitable returns, it must thoroughly understand its assets and maintain control over them. Accounting for fixed assets keeps accurate records of a business’s fixed assets.

What are the three common types of fixed assets?

An organization’s most common types of fixed assets include the Plant, Property, and Equipment (PPE) documented in the company’s balance sheet. Fixed assets are also tangible assets as they are physical assets.

What are the ways to manage fixed assets efficiently?

Managing assets involves several steps, from recording purchases and keeping tabs on performance to determining depreciation and deciding how to best get rid of outdated or unused gear. Managing fixed assets in an organization may include the supervision of the asset’s lifecycle using robust auditing, safekeeping of properties, having in-house management, collecting data, managing compliances, and having a return on investment or asset scrutiny.

By taking Rcademy’s Certificate in Fixed Assets Accounting and Management Training Course, learners will get an appreciation for the variety of difficulties inherent in fixed asset accounting. As they go through the material, participants can comprehend the latest fixed asset management and control ideas. In addition, the participants will have a firm grasp of the theories, concepts, and practices that characterize this field. Learners will benefit most from the course’s format if they have little background in accounting or management but want a clear understanding of fixed assets.

Who Should Attend?

The Certificate in Fixed Assets Accounting and Management Training course by Rcademy is ideal for:

• Financial analysts and managers
• Fixed asset supervisors/professionals/account managers
• Accountants and auditors
• Facility coordinators/ supervisors
• Department managers, heads, executives
• Budding startup founders and entrepreneurs
• Maintenance assistants/managers
• Investors

What are the Course Objectives?

The objectives of The Certificate in Fixed Assets Accounting and Management Training course by Rcademy are to enable professionals to:

• Learn the methods, design, and treatment of the fixed assets in the accounting books
• Understand different techniques of acquisition of properties and controlling their associated costs
• Learn of the importance of judicious use of fixed assets to raise profitability
• Understand the various methods and concepts associated with permanent asset management and accounting
• Understand how fixed asset management can be used to give optimum returns to the business stakeholders
• Understand how to control assets efficiently and prevent delays in manufacturing, and enable a smooth running of the operations

How will this Course be Presented?

The Certificate in Fixed Assets Accounting and Management Training Course at Rcademy uses studying methods that are well-tested and proven for learning to meet the participant’s objectives and expectations at the end of the course. The training course will use the following methods:

• Interactive sessions
• Use of Case Studies
• Group discussions
• Problem-solving and management games
• Presentations

What are the Topics Covered in this Course?

Module 1: An Overview of Fixed Asset Accounting

• Asset Inventory
• Asset classification
• Financial reporting and asset reporting
• Accounting treatment of fixed assets
• The need for fixed asset accounting in an organization

Module 2: Valuation of the Asset

• Book value and appraisal value
• Asset valuation methods: relative value techniques and absolute value techniques
• Valuation of building, land, etc
• Valuing maintenance, additions, or repairs

Module 3: Depreciation

• Factors that impact depreciation expenses-acquisition cost, salvage value
• Rationale for depreciation
• Techniques for measuring depreciation- written down technique, straight-line technique

Module 4: Asset Continuity Arrangement

• Planning Schedule
• Aspects of continuity planning
• Gap analysis
• Cost schedule

Module 5: Asset Transmission

• Categories of transfers
• Departmental transmission
• Interdepartmental handovers
• Disposal and retirement

Module 6: Maintenance and Records

• Asset lifestyle control
• Fixed asset monitoring
• Labeling assets
• Maintenance control

Module 7: Fixed Asset Administration

• Evaluation of fixed asset efficiency-turnover ratios
• Fixed asset management concepts
• Fixed asset life cycle control and life cycle costing

Module 8: Intangible Assets

• Valuation
• Amortization
• Types of intangible assets
• Accounting treatment of the invisible properties
• Variation between accounting of tangible and intangible assets

Module 9: Accounting Over the Life of the Assets

• Leasehold improvements
• Costs incurred after purchase
• Subsequent expenditure on intangibles
• Concept of depreciation components
  – Depreciation techniques
  – Partial year depreciation
  – Accelerated depreciation model
  – Units of the production model
  – Revising depreciation techniques