Asset valuations involve expert appraisal of non- current assets, intangible assets and financial assets. Asset valuation benefits both private and public-sector clients in complying with financial statement requirements, where these sectors are required to correctly reflect the value of assets in their financial statements. Asset valuations offer benefits to organisations as they ensure or validate the accuracy of sums insured, preventing cases of either overinsuring or underinsuring the client’s property, plant and equipment. This reduces risk by ensuring the business, its property, equipment and machinery are accurately valued and appropriately insured. Valuations are needed for other reasons such as investment analysis, capital budgeting, merger and acquisition transactions, financial reporting and taxable events to determine the proper tax liability and in litigation.
Monitoring how the asset value changes with time can indicate if the investment required to maintain the appropriate value of the asset is being provided. As such, monitoring can provide compelling arguments for investing in the preservation of the asset base to senior decision makers in the organization. It will also provide the opportunity for presenting the case for the development of more cost-effective maintenance and replacement programs that will maintain the value of the assets.
It is very essential that financial professionals and administrators should be conversant with asset valuation and reporting practices. This course is very comprehensive, and value adding and will aid practitioners with clear and concise direction to ensure that assets are appropriately classified, properly valued, and accurately depreciated so that such assets are correctly and fairly stated in the accounts
- Asset Managers, Human Resource Managers, Finance Managers, Administrative officers, Line Managers and any other staff who are involved in the management and valuation of assets of the organization.
Upon completion of this workshop, the delegates should be able to:
- Understand the basics of Asset Management.
- Understand the purpose & maintenance of an asset register together with the practical accounting and asset management updates applicable for each accounting period.
- Develop an effective Asset Management Plan.
- Gain Comprehensive knowledge in alignment of Asset Financial Reporting with IFRS/ IPSAS.
- Discuss the different types of Assets and relevant standards
- Explain in detail the concept of Asset Valuation and its purpose.
- Understand issues impacting on Assets Valuation
- Understand The Asset Valuation Process.
- Apply the different Asset Valuation Methods.
- Differentiate the asset valuation models
- Apply the criteria in valuation on related standards IAS 16/IPSAS 17 IAS 2/IPSAS IAS40/IPSAS 16
- Perform fixed and financial assets valuation in their institutions.
- Perform valuation of intangible assets for financial reporting
- Be familiar with information requirements In Asset Valuation
- Apply Proper Accounting procedures for Assets.
- Understand the best practices in relation to assets valuation.
- Understand the requirements of International Valuation Standards.
- Evaluate valuation techniques for non-current assets.