UGBS Executive Development (UGBS-ED) is pleased to invite the general piblic to a three (3) day training course in Creating and Administering a Fixed Asset Register. 

Course Description

Fixed Assets or Non-Current Assets mostly constitute the biggest proportion of Organisations Investments and are very significant for achieving its corporate objectives. Therefore, they must be accurately captured in their respective ledgers and the Fixed Assets Register. Unfortunately, most business do not maintained Fixed Asset Register where fixed assets are to be recorded and managed properly. The inappropriate or non-existence of Fixed Assets Register has always led to misreporting arising from improper measurement of assets value such as depreciation, disposables, impairment, written offs, carrying values, etc. For most organisations, there is no link between their financial statements (records) and physical assets. Regrettably, subsequent costs on these fixed assets such as improvement / enhancement costs, which are meant to be capitalised are generally expensed. Depreciation is usually under/overcharged since the computation are based on the figures in the fixed assets schedule and not the register. It neither make no reference to the individual assets valu nor their economic useful lives. Sadly, majority of these fixed assets may have been lost, stolen, damaged, obsolete, but yet remain in the fixed assets schedule.     

Course Objectives 

The decision to have a Fixed Assets Register is non-negotiable in that it ensures the fixed assets are safeguarded, accurately valued/ measured to enrich the financial statements. The Register aids the entities to have a complete receord of all its fixed assets which is in adherance to tax & insurance liabilities management, proper internal control, auditing, etc. The adoption of International Public Sector Accounting Standards (IPSAS 17) by Government of Ghana makes it mandatory for all Government Ministries, Institutions, Departments, Agencies, etc, to develop and maintain a credible Fixed Assets Register. The International Accounting Standard (IAS 16) also require private sector entities to maintain Fixed Assets Register. This course is therefore designed to carefully assista organisations to undersstand and appreciate how to design and manage a workable Fixed Assets Register. Participants will be taken through a step by step approach to create a Fixed Assets Register in a Programmed Excel, Tailor-made software, Pastel Evolution, etc.   

Course Content

• What constitutes Fixed Assets or Non-Current Assets in an organisation?
• How do these Non-Current Assets form part of the company's investments?
• The Accounting Standards such as IPSAS 17 & IAS 16 (PP&E) position on Non-Current Assets in Fixed Assets Register 
• Effect of Revenue and Capital Expenditure on the Fixed Assets Register
• Accounting for Disposals and Additions in the Fixed Assets Register
• The Essence of Maintaining Non-Current Assets or Fixed Assets Register
• Differentiating between Fixed Assets Schedule & Fixed Assets Register
• Implications of Revaluation of the Non-Current Assets on the Fixd Assets Register 
• Impact of Fixed Assets Register on the Financial Statements (Financial Reporting)
• Creation & Administering Fixed Assets Register in a Programmed  Excel
• Developing and Managing Fixed Assets Register in Patel Evolution Software
• Creation and Management of Fixed Assets Register in a Tailor-made Software

Learning Outcomes 

By the end of the course, participants will be able to:

• Recognise, record and account for the fixed assets throughout their economic useful lives.
• Appreciate how to recognise and measure the manufacture or the acquisition of fixed assets 
• Distinguish the types of business transactions that lead to increase  / decrease in the assets cost
• Identify and accurately measure fixed assets under the applicable Accounting Standards
• Appreciate when fixed assets may be revalued because of their appreciation or otherwise
• Treat subsequent costs on these fixed assets after their initial measurement at recognition
• Account for depreciation and ensure accuracy in tracking & accounting for fully written offs
• Treat Revaluation, disposals, damaged, stolen fixed assets through Fixed Assets Register
• Periodically conduct fixed assets inventory (count) in order to perform reconciliation
• Employ techniques to successfully manage and maintain their Fixed Assets Register

• Time: 9:00am - 2:30pm Daily
• Duration: Three (3) days (Weekdays only)
• Dates: Season One: 25th - 27th October, 2022
  • Season Two: 8th -  10th November, 2022
• Venue: University of Ghana Business School, Graduate Building. PRESEC Junction, Opposite Goil Filling Station. 
• Payment: Payment by cash or cheque written to University of Ghana Business School. International participants should please contact us for applicable fees. Course fees cover Training materials, UGBS Branded bags, Certificates, snacks and lunch. We also offer Customised Training and In-House Training Solutions, Certificate Courses, Research and Consultancy.