Introduction: Asset Management Training and Basic Finance Course
Improve control over your physical assets and improve business performance!
Unfortunately many organizations do not have enough information relating to their assets. Simple questions like: where are my assets? How much do my assets cost? What is the maintenance regime of my assets are not easily answered. However this information is required to increase revenue, save costs and improve performance. Indeed, without this information, it is difficult to remain competitive.
Asset management in its broadest sense refers to a system that monitors the assets of an individual or group. It can apply to tangible and intangible concepts. Asset management is a system which operates, maintains, upgrades and disposes of assets cost-effectively.
The first component of this course outlines basic finance concepts (which is strongly linked into asset management). Once we have this foundation, we, then proceed into asset management concepts.
Benefits: Asset Management Training and Basic Finance Course
Some of the benefits of attending this course include:
- Improve asset and stock management.
- Save costs, improve performance and improve revenue through better asset lifecycle information.
- Understand accounting jargon and basic terms.
- Improve asset and stock ratios.
- Understand how stock and assets affect financial viability.
- Take control of assets in your organisation.
- Reduce business risks.
- Appropriately dispose of assets.
- Keep excellent asset and stock records.
Outline: Asset Management Training and Basic Finance Course
Day 1: Basic Accounting
- Basic terminology – accounting period, assets, balance sheet, cost of goods sold, equity, expenses, income statement, liabilities, revenue, accounts payable, accounts receivable, asset depreciation, general ledger, interest, inventory, journals, payroll, trial balance.
- Accounting methods.
- Keeping track of transactions.
- The balance sheet: double-entry accounting; types of assets (fixed assets, stock, intangible assets); types of liabilities; equity – owner’s equity.
- Other financial statements: income statement; cash flow statement; capital statement.
- Payroll accounting terminology.
- End of accounting period procedures.
Day 2 & Day 3 Asset and Stock Management
In the course, you will learn the international best practices and latest trends in asset management planning including:
- Practical understanding of asset registers to practically enhance accountability and responsibility for assets and property in your company.
- Establish a reliable asset management strategy.
- Discover the ideal asset technology and innovation that works well for your company.
- Distinguish between fixed assets and inventory in an organisation
- Describe the impact that inventory management can have on the success and viability of an organization (stock turnover ratios, JIT).
- Describe the management of fixed assets in a company .
- International Financial Reporting Standards (IFRS).
- Gain insight into the best ways to decrease the overall life-cycle expenses of assets and properties, through much better maintenance, tracking spare parts, planning and disposal.
- Obtain most recent regulative updates, policy advancements and its effect on asset management
- Ensure a high level of commitment to enhance your assets and risk management directives and practices.
- Practical demonstrations are carried out within the course
Course Duration: Asset Management Training and Basic Finance Course
Who should attend: Asset Management Training Course Course
This course is intended for anyone, who:
- Anyone who wants to improve business performance through understanding asset management.
- Managers, Supervisors, Business Owners
- Project Managers
- Warehouse Managers
- Cost Centre Owner
- Anyone who has assets under their control
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