Thank you for sending your enquiry! One of our team members will contact you shortly.
Thank you for sending your booking! One of our team members will contact you shortly.
Duration 14 hours
Course Outline
Foundations of Fixed Assets
- Defining concepts and classifying fixed assets
- Significance within financial and operational strategy
- Applicable accounting standards in Ecuador (IFRS – Section 17 / IAS 16)
- The comprehensive lifecycle of a fixed asset
Asset Registration and Administrative Control
- Protocols for asset acquisition and capitalization
- Asset tagging and identification processes
- Utilization of management software and tools
- The critical role of physical inventory verification
Asset Valuation and Depreciation Strategies
- Methods of depreciation (straight-line, units of production, among others)
- Processes for revaluation and impairment testing
- Hands-on depreciation calculations
- Implications for accounting records and tax liability
Regulatory Compliance and Audit Practices
- SRI regulations specific to fixed asset management
- Internal control mechanisms and asset audit procedures
- Management of supporting documentation and records
- Frequent issues identified during audits
Asset Disposal and End-of-Life Management
- Procedures for retiring assets from service
- Managing sales, donations, or dismantling
- Tax and accounting consequences
- Final reconciliation and reporting
Practical Scenarios and Regional Context (Guayaquil)
- Challenges commonly faced by institutions in Guayaquil
- Case studies drawn from both public and private sectors
- Simulated inventory and asset control exercises
- Best practices observed in the region
Key Takeaways and Future Directions
Requirements
- A solid grasp of fundamental accounting concepts
- Prior experience in financial reporting or asset tracking systems
- Working knowledge of IFRS or relevant local accounting frameworks
Target Audience
- Accounting practitioners
- Finance specialists
- Audit professionals and internal control officers
Testimonials (2)
Fun to talk
Jihan Fadila - BAF
Course - Root Cause Analysis (RCA) for Internal Audit
casual conversation supported by specific examples
