Course Outline

Introduction to Fixed Assets for Government

  • Concept and classification of fixed assets
  • Importance in financial and operational management
  • Accounting standards applicable in Ecuador (IFRS – Section 17 / IAS 16)
  • Life cycle of a fixed asset

Registration and Control of Fixed Assets for Government

  • Policies for asset acquisition and capitalization
  • Assignment and labeling
  • Management tools and software
  • Role of the physical inventory in ensuring accurate tracking and accountability

Valuation and Depreciation for Government

  • Depreciation methods (straight-line, units of production, etc.)
  • Revaluation and impairment of assets
  • Practical depreciation calculations to support financial reporting
  • Accounting and tax treatment in compliance with regulations

Legal Framework and Auditing for Government

  • SRI regulations related to fixed assets
  • Internal control and asset auditing to ensure transparency and integrity
  • Supporting documentation and records management for audit readiness
  • Common findings in audits and recommended corrective actions

Disposal, Sale, and Final Handling for Government

  • Procedures for asset retirement to maintain accurate financial records
  • Sale, donation, or dismantling of assets
  • Tax and accounting aspects to ensure compliance with legal requirements
  • Closing reports and reconciliations to finalize asset transactions

Practical Cases and Local Application (Guayaquil) for Government

  • Common issues in institutions in Guayaquil related to fixed asset management
  • Case studies from public and private companies to illustrate best practices
  • Inventory simulation and asset control exercises to enhance practical skills
  • Best practices in the region to improve efficiency and accountability

Summary and Next Steps for Government

Requirements

  • An understanding of fundamental accounting principles
  • Experience with financial reporting or asset management
  • Familiarity with International Financial Reporting Standards (IFRS) or local accounting standards

Audience

  • Accountants for government and private sector organizations
  • Finance professionals for government entities
  • Auditors and internal control personnel for government agencies
 14 Hours

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