Most of the organizations are faced with a significant challenge on tracking the location, quantity, condition, maintenance, assignment of values and depreciation status of their existing fixed assets. This has led to presentation of misstated financial statements and modified audit opinion from external auditors.
The best way to respond to these challenges is by ensuring there is efficient and effective system of managing fixed asset in place. Having such a system in place allows management to track the overall performance of their assets easily while ensuring assets are being utilized efficiently, allowing for performance to be reviewed and helping to prevent any unnecessary or additional costs being incurred due to incidents such as unscheduled downtime, theft, incomplete fixed assets register and etc.
AUDITAX international has significant experience in fixed assets management and training on effective fixed assets management for private and public sectors entities. Through our experienced trainers we shall deliver this course in a clear, simple language and practical examples. The course is also delivered through live group interaction. Case studies are also used. Certificate and training materials are issued at the end of the course. In addition, participants will be awarded CPD hours.
On attending this course, participants will be able to:
i. Understand the process of preparing of Fixed Assets Register and challenges involved.
ii. Understand various techniques used in Valuation of Assets.
iii. Understand the approaches used in conducting fixed assets verification and challenges involved.
iv. Apply the requirements of IAS 16 Property, Plant and Equipment in Fixed Assets Management.
v. Apply the requirements of IAS 16 Property, Plant and Equipment in Fixed Assets Management.
vi. Apply the requirements of IAS 36 Impairment of Property, Plant and Equipment in Fixed Assets Management.
- Apply the requirements of IPSAS 21 Impairment of Non-Cash Generating Assets in Fixed Assets Management.
- Acquire skills relevant for transforming manual fixed assets register into computerized Fixed Assets Register.
ix. Become more competent in performing reconciliation between assets verified against assets existing in the Fixed Assets Register.
x. Be able to respond with audit queries on fixed assets management.
xi. Understand COVID-19 impact in Fixed Assets Management.
Fees and Payment
TZS 490,000 per person (VAT inclusive) - including lunch to be paid through bank deposits to Account no:0150303162800,CRDB Bank,Account Name: Auditax Internationalor Cheques to be written in the name of Auditax International and delivered to our offices: Dar es Salaam: PPF Tower, 7th Floor, Ohio Street / Garden Avenue.Confirmation: If you are planning to attend kindly confirm through Email: email@example.com or by calling+255 719 878490 or +255 652864952..
Topics to be covered
- Introduction to Fixed Assets Management.
- Preparation of Fixed Assets Register and challenges involved.
- Techniques used in Valuation of Assets.
- Approaches used in conduct fixed assets verification and challenges involved.
- IAS 16 Property, Plant and Equipment.
- IAS 16 Property, Plant and Equipment.
- IAS 36 Impairment of Property, Plant and Equipment.
- IAS 31 Impairment of Non-Cash Generating Assets.
- Transforming manual fixed assets register into computerized Fixed Assets Register.
- Performing reconciliation between assets verified against assets existing in the Fixed Assets Register.
- COVID-19 impact in Fixed Assets Management.
Who should attend?
- Fixed assets/ investment accountants
- Fixed assets/ investment managers
- Internal Auditors
- Finance officers
- Finance Managers
- External Auditors & Consultants.
Do you want IFRS course in house?
Kindly contact us if you require this course in house:
Mobile: +255 719 878490
Landline: +255 22 2120692
Other courses offered by Auditax International
Tax, IFRS, IPSAS, Finance for Non- Financial Managers, Procurement, Strategy, Leadership, Financial Management etc