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Course Outline
Introduction to Fixed Assets
- Defining the concept and classification of fixed assets
- The significance of fixed assets in financial and operational management
- Applicable accounting standards in Ecuador (IFRS – Section 17 / IAS 16)
- The complete life cycle of a fixed asset
Registration and Control of Fixed Assets
- Strategies for asset acquisition and capitalization policies
- Asset assignment and labeling protocols
- Utilizing management tools and software solutions
- The critical role of physical inventory
Valuation and Depreciation
- Exploring depreciation methods such as straight-line and units of production
- Processes for revaluation and asset impairment
- Performing practical depreciation calculations
- Understanding the accounting and tax implications
Legal Framework and Auditing
- Regulations from SRI concerning fixed assets
- Internal control mechanisms and asset auditing practices
- Managing supporting documentation and records
- Identifying common findings during audits
Disposal, Sale, and Final Handling
- Procedures for retiring assets
- Options for sale, donation, or dismantling
- Navigating the tax and accounting aspects
- Preparing closing reports and reconciliations
Practical Cases and Local Application (Guayaquil)
- Addressing common challenges in Guayaquil-based institutions
- Analyzing case studies from public and private sectors
- Simulating inventory and asset control scenarios
- Reviewing best practices within the region
Summary and Next Steps
Requirements
- A solid grasp of fundamental accounting principles.
- Practical experience in financial reporting or asset tracking.
- Knowledge of IFRS or relevant local accounting standards.
Intended Participants
- Accountants.
- Finance specialists.
- Auditors and personnel responsible for internal controls.
14 Hours
Testimonials (2)
Fun to talk
Jihan Fadila - BAF
Course - Root Cause Analysis (RCA) for Internal Audit
casual conversation supported by specific examples
