Fixed Assets Management & Tracking Systems with an Overview of ISO55000

24-25 Aug, 2022, Remote Online Training - Public

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Venue Details

Remote Online Training - Public


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FOR COURSE DETAILS

Juliany,

Office: 03 2283 6109

Mobile: +60 122281247

juliany@ipa.com.my

Phoebe,

Office: 03 2283 6100

Mobile: +60 193637822

phoebe@ipa.com.my

Bee Teng,

Office: 03 2282 6112

Mobile: +60 172566121

beeteng@ipa.com.my

FOR CUSTOMISED IN-HOUSE TRAINING

Jane,

Office: 03 2283 6101

Mobile: +60 129418251

jane@ipa.com.my

Keith,

Office: 03 2283 0000

Mobile: +60 162272735

keith@ipa.com.my

ADDRESS

A-28-5, 28th Floor, Menara UOA Bangsar,
No.5, Jalan Bangsar Utama 1,
59000 Kuala Lumpur

COURSE CONTENT
  • Module 1 – Introduction to Fixed Assets & Capital Equipment
  • Module 2 – Asset Management Phases
  • Module 3 – Classification, Coding & Tracking Systems
  • Module 4 – Fixed Assets Registry
  • Module 5 – Asset Risk Management
  • Module 6 – Asset Acquisition & Cost Elements
  • Module 7 – Asset Operations & Policies
  • Module 8 – Disposal & Retirement of Assets
  • Module 9 – Technology in Asset Management
  • Module 10 – Understanding the Development of Standards in Asset Management
FOCUSING ON
  1. Physical management of assets, whether the assets are localized or spatial assets, through efficient coding and tagging systems
  2. Maintaining fixed assets registry – ensuring all assets are accounted for and managed through an efficient system of recording right from acquisition to disposal
  3. Asset Life Cycle Model/Asset Whole Life Model that helps to formulate appropriate maintenance strategies and expose the organization to asset risk analysis
  4. Financial perspective of asset management – looks at the cost of acquisition, time value of money and other commonly overlooked costs in managing assets throughout its productive life
  5. Situation audit and periodic inventory auditing to ensure physical controls exist and custodians take responsibility of the assets under their charge
  6. ISO 55000, 55001 & 55002 – what it means to industry and professional management of assets.
OBJECTIVES

Good asset management maximizes value-for-money for stakeholders, whether public or private sector. It involves planning, coordination, asset selection, acquisition / development, utilization, maintenance management and finally the disposal or decommissioning of assets.

This course is designed to provide a comprehensive understanding of how fixed assets and capital equipment are managed better by having a structured approach.

While, fixed assets may come under the purview of the finance department for reasons of control and financial responsibilities, there are other departments equally responsible to ensure the assets are maintained and managed well.

Maintenance, engineering or IT departments have a major role in ensuring the optimal performance of critical equipment. Appropriate maintenance programs have to be in place to provide consistent and reliable outcomes of working equipment and assets.

Custodians of the assets need to understand basic knowledge of managing these assets. Asset risks and criticality have to be analyzed so that appropriate strategies could be devised to overcome unexpected outcomes and meet agreed upon service levels.

Understanding the Asset Life Cycle or Asset Whole Life Management model helps organization to better prepare for contingencies, risks exposure, financial and overall management commitment.

COURSE LEARNING OUTCOMES (CLO)
  1. Explain the role of Fixed Asset Registry and its importance
  2. Estimate Asset Life Cycle Costs
  3. Present how to track physical assets through coding and tagging
  4. Display the ability to conduct physical audits of assets
  5. Display the ability to conduct asset risk analysis

WHO SHOULD ATTEND

  • Persons responsible for fixed assets management
  • Departmental Managers
  • Purchasing Managers, Executives
  • Facilities/Maintenance/Assets Managers & Executives
  • Finance & Administration Managers & Executives
  • Auditors/Stock-takers
  • Officers/managers from the Public Sector/GLC with asset management responsibilities

 

METHODOLOGY
Presentation, Exercises/Case Studies, Discussion
DAY 1
9:00

MODULE 1 – INTRODUCTION TO FIXED ASSETS & CAPITAL EQUIPMENT

  • Definition
    - Introduces to basics and how organizations differ in asset classification
  • Accounting Perspective of Assets
    - Looks at how the assets are viewed in the Balance Sheet/ P&L
  • Types of Fixed Assets & Capital Equipment
    - Defines and explores the nature of assets and how it contributes to the organization’s functions
  • Asset Life Cycle Management/Asset Whole Life Management
    - Management of the asset from the beginning to the end of its useful life until its final disposal or decommissioning
10.45

MODULE 2 – ASSET MANAGEMENT PHASES

  • Objectives of the Processes
    - Explores commitment needed in each phase
  • Procurement, Deployment, Usage, Upgrade, and Decommissioning
    - Runs through the complete life cycle and the stages of an asset
12.00

MODULE 3 – CLASSIFICATION, CODING & TRACKING SYSTEMS

  • Classifying fixed assets and capital equipment
    - Explores how assets are classified
  • Understanding how & why coding system works
    - Coding to manage assets effectively
  • Asset Coding – methods; manual & computerized systems
    - Types of coding that can be used and opting for an appropriate system
  • What is tagging and how it is done?
    - Why tag and how to do it right
  • Movable/reusable Asset Management
    - Spatial, mobile, reconditioned and other assets explored
  • Technology in Tracking Assets
    - Tracking assets by using modern technology like RFID, GPS, Drones
  • Physical Inventory Taking and Reconciliation
  • - Periodic physical counting of assets to ensure book records tally with physical balance
1:00 Lunch

2:00

MODULE 4 – FIXED ASSETS REGISTRY

  • A need for assets registry
    - Composition of an asset registry and how it looks like
  • Purpose and functions of the registry
    - Why have a registry and how it helps manage assets
  • Input and information requirements of the registry
    - Input/output of the registry, fixed/variable information capture
3.45

MODULE 5 – ASSET RISK MANAGEMENT

  • Elements of Asset Management Strategy
    - Planning for assets and understanding the needs of the company
  • Asset Risk Management
    - Asset risk profile
    - Asset life cycle phases and risk analysis
    - Risk mitigation measures
5:00 End of Day 1
DAY 2
9:00

MODULE 6 – ASSET ACQUISITION & COST ELEMENTS

  • Alternatives to asset ownership
    - Does the organization have to own the asset?
    - What are the alternatives?
  • Physical Life and Useful Life of an Asset
    - How it differs, its implication in accounting and treatment of losses
  • Establishing Life-Cycle Costs
    - What is life cycle costing and how it is done?
  • A brief on: NPV, IRR, Payback
    - Looks at how investment decision in assets are made
  • Options in Asset Acquisition
    - Are there any other ways to acquire assets?
10.45

MODULE 7 – ASSET OPERATIONS & POLICIES

  • How policies determine asset acquisition and management
  • Importance of Asset Policies & Types of Policies
    - Explores policies in detail
  • Maintenance & Operation Plans
    - Why the maintenance plan is important to the management of assets
  • Asset Rehabilitation & Condition Monitoring
    - Upgrade/refurbish, repair or get a new asset
    - How to monitor or determine the condition of an asset?
    - Financial & Performance accountability
  • Return on the asset investment – who is responsible
    - Integrated Performance Report
    - A complete report that outlines the performance of an asset over a period of time
1:00 Lunch
2:00

MODULE 8 – DISPOSAL & RETIREMENT OF ASSETS

  • When and how to dispose
  • Alternatives to disposal – transfers, cost management, documentation
    - Looks at other forms of usage for a mature and retired asset
  • Methods of disposal
  • Assessment of Performance
    - Condition monitoring reports to help in assessment
3:00

MODULE 9 – TECHNOLOGY IN ASSET MANAGEMENT

  • Technology as an enabler of change
  • Remote asset management
  • Technology & People
3:45

MODULE 10 – UNDERSTANDING THE DEVELOPMENT OF STANDARDS IN ASSET MANAGEMENT

  • IAM, UK and standards
    - BSI/PAS 55: 2008
  • ISO 55000, ISO 55001 & ISO 55002
5:00 End of Course