Meirc Professional Certificate (MPC)
MPC certified courses by Meirc Training & Consulting are designed for those willing to challenge themselves and go the extra distance. Participants who fully attend an MPC course and successfully complete the test on the last day, will receive a Meirc Professional Certificate (MPC), in addition to the one they receive for full attendance. MPC certificates are regionally recognized and can be quite valuable when applying for more senior roles within the organization or outside.
List of Certified CoursesThis course is also offered in face-to-face courses, click on the course below.
Overview
Course Methodology
The course uses a mixture of presentations by the consultant and the participants in addition to group and individual exercises, case studies and role plays.
Course Objectives
By the end of the course, participants will be able to:
- Apply the 28 point requirements to establish a whole life asset management system according to PAS 55 and ISO 55000
- Evaluate investments in fixed assets according to Net Present Value (NPV), Internal Rate of Return (IRR) and other methods
- Recognize and correctly measure fixed assets and intangible assets under International Financial Reporting Standards (IFRS)
- Justify the accounting and reporting for transactions throughout the life of the assets
- Account properly for impairment, disposals, and sales of long lived assets
Target Audience
Fixed assets professionals including supervisors, account managers, purchasing and facility supervisors and coordinators, financial controllers, new employees handling fixed assets, internal auditors, maintenance assistants and managers, and operations managers.
Target Competencies
- Applying assets management
- Increasing assets utilization
- Making investment decisions
- Formulating policies and procedures
- Utilizing assets information system
- Monitoring assets performance
- Applying capitalization rules
- Accounting for assets per IFRS
Course Outline
- Asset management function
- Introduction to British Standards Institute’s PAS 55
- Introduction to ISO 55000
- Asset management objectives
- Asset management benefits
- Requirements of PAS 55 for effective asset management
- Risk management and asset management
- Evaluating investments in assets
- Making investment decisions
- Time value of money
- Net Present Value (NPV)
- Internal Rate of Return (IRR)
- Other tools for valuing investments
- Fair value measurement
- IFRS 13 fair value
- Three level hierarchy for Fair Value (FV)
- Valuation techniques under IFRS
- Initial measurement of long lived assets
- Measurement and recognition of fixed assets
- Classes of long lived assets
- Construction of tangible assets for internal use
- Measurement and recognition of investment property
- Measurement and recognition of intangible assets
- Required disclosures
- Special topics in accounting for fixed assets
- Capitalization of borrowing costs
- Decommissioning costs
- Accounting over the life of the asset
- Costs incurred subsequent to purchase
- Leasehold improvements
- Accounting for leased assets
- Subsequent expenditures on intangibles
- Accounting for assets under fair value model
- Concept of component depreciation
- Depreciation methods
- Partial-year depreciation
- Straight-line depreciation method
- Units of production method
- Accelerated depreciation methods
- Revising depreciation rates
- Impairment and disposal
- Definition and rules of asset impairment
- Impairment measurement and accounting
- Impairment indicators and computation
- Accounting for disposing or idling of assets
MPC
Meirc Professional Certificate (MPC)
MPC certified courses by Meirc Training & Consulting are designed for those willing to challenge themselves and go the extra distance. Participants who fully attend an MPC course and successfully complete the test on the last day, will receive a Meirc Professional Certificate (MPC), in addition to the one they receive for full attendance. MPC certificates are regionally recognized and can be quite valuable when applying for more senior roles within the organization or outside.
List of Certified CoursesSchedule & Fees
Face-to-Face Courses
This course is also offered in face-to-face courses, click on the course below.
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