At the end of this training workshop, participants should be able to:
• Identify the sub-processes of the accounting, fixed assets, and inventory processes
• Determine the risk areas of the accounting, fixed assets, and inventory processes
• Design effective internal controls for the accounting, fixed assets, and inventory processes
• Ascertain control objectives to be met by the designed internal controls
• Evaluate control weaknesses and design effective internal controls for given scenarios
• Identify and implement fixed asset maintenance requirements
• Monitor and evaluate asset usage
• Evaluate asset management in terms of organizational strategy
• Audit Managers in Public and Private Sector
• Audit Supervisors
• Senior Audit Staff
• Chief Accountant
• Finance Managers
• Asset Clerks
• General Management Principles and Skills
• Planning – establishing and maintaining fixed asset inventory systems
• Control Ownership, Responsibility, and Accountability
• Asset Register and Asset record
• Inventorying – land, buildings, improvements, machinery and equipment assets
• Valuing/costing/depreciation – cost data and life expectancies
• Tracking controllable assets
• Recording additions and deletion
• Requirements of generally accepted accounting principles including GAAP Reporting Standards.
• Infrastructure and depreciation requirements
• Inventorying and valuing infrastructure
• Accounting for fixed assets
• Criteria for assessing maintenance performance.
• Measurement of the Elements of Financial Statements.
• Asset Transfers between organizations and entities.
• Exchanges of Assets.
• Asset Movement
• Operations and Maintenance Phase.
• Criteria for assessing maintenance performance
• Investment appraisal
• Fixed Asset Budgeting
• Fixed asset procurement and Supplier Selection
• Work breakdown structures.
• Critical path method/Network analysis.
• Bar chart/Procurement Schedule.
• Investment appraisal (Capital Budgeting).
• Project Auditing and Accountability
• Project Finance
• Breakeven Analysis
• Preparation of Financial Statements
• Disposal of fixed assets and asset register adjustment
• Storage and Warehousing
• Disposal management
• Disposal phase and process
The way forward After the Training
Participants will develop a work plan through the help of facilitators that stipulates application of skills acquired in improving their organizations. ASPM will continuously monitor implementation progress after the training.
Participants will undertake a simple assessment before the training to gauge knowledge & skills, another assessment will be done after the training in order to monitor knowledge gained through the training