Course : Understanding asset accounting

Understanding asset accounting

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Understanding accounting entries relating to asset transactions (available assets in the company, changes in value and withdrawals). Understanding the new rules applicable to capital assets (impact of IFRS) and assessing their impact.


Inter
In-house
Custom

Practical course in person or remote class

Ref. CIM
Price : 1340 € E.T.
  2d - 14h00




Understanding accounting entries relating to asset transactions (available assets in the company, changes in value and withdrawals). Understanding the new rules applicable to capital assets (impact of IFRS) and assessing their impact.

Teaching objectives
At the end of the training, the participant will be able to:
  • Distinguish the different asset types
  • Apply the accounting criteria for the component-based method
  • Learn about the different types of asset amortizations and understand their tax implications
  • Present the assets in the balance sheet, the profit and loss account and the tax return

Intended audience
Single SME accounting, accounting and financial managers or accounting staff.

Prerequisites
Good knowledge of general accounting.

Course schedule

Characteristics of the assets

  • The three types of assets: intangible, tangible and financial.
  • Identifying their position on the balance sheet.
  • The distinction between capital, expense, other assets.
  • The treatment of research and development costs
Hands-on work
Case study Distinguish cost invoices from capital invoices.

Component-based approach

  • CRC regulation No. 2004-06.
  • The accounting criteria for the component-based method.
  • The valuation of assets: impact of the IFRS standard.
  • Determination of the cost of the assets concerned.
  • The modalities of first-time application.
  • The treatment of specific transactions.
  • The tax aspects.
  • Information to be provided in the notes to the accounts.
Hands-on work
Case study Allocate the assets according to the new component rules.

Amortizations and depreciations of assets: the new accounting rules

  • Regulation 2002-10.
  • The IFRS standard and the new amortization rules.
  • The concept of recoverable value.
  • Impairment testing of assets: basis, method, discount rate.
  • Cash-generating units (CGUs).
  • Accounting and tax implications.
Hands-on work
Case study Distinguish useful life and duration of use. Practice amortizations on the three types of asset.

The key transactions on assets

  • Purchasing in foreign currencies.
  • Interviews, improvements and major work.
  • Amortization: straight-line, digressive, special allowances.
  • Modes of acquisition: full ownership, operating lettings or lease.
  • Write-off of assets: transfer, disposal, capital gains or losses.
  • Physical inventory: monitoring of assets.
Hands-on work
Case study Register an asset purchased in a foreign currency. Practice the different methods of amortization in relation to a tangible asset.

Taxation applicable to assets

  • The Territorial Economic Contribution.
  • Presentation in the balance sheet, the profit and loss account and the notes.
  • Presentation in the tax return.
Hands-on work
Case study Identify the assets in the summary accounting and taxation documents.


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Dates and locations
Select your location or opt for the remote class then choose your date.
Remote class