About
While the accounting and engineering professions have tried to better integrate asset accounting and asset management, there remains inconsistency across the sector. Even the Auditors-General in different jurisdictions have expressed significantly divergent views about the same issues.
To address inconsistencies and non-compliance, the AASB undertook a special project for fair value in the public sector between 2016 and 2022 which culminated in a major update to AASB13 Fair Value Measurement in December 2022 (AASB2022-10). The changes flowing for the clarifications and new Australian guidance included in the AASB13 update has significant implications for councils.
This half-day workshop is designed to update and align both finance and asset management regarding the changes and to provide practical examples of how the proper application of the requirements can be easily applied to deliver both financial reporting and strategic asset management outcomes.
Objectives covered include:
• Understand strategic asset management and reporting
• Clarity around the asset management framework
• Ability to apply course content to council assets and budget
Key Content
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Strategic Asset Management for Beginners
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Financial Reporting and accounting standards update
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New Strategic Asset Management Framework (SAMF): Public Sector
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Review of the Current Status Workshop
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Strategic Asset Management Case Study
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Maturity Analysis
Benefits for Delegate
Participates will leave his workshop with a knowledge of the updated asset valuation and guides, with clarity on the recent update.
Benefits for Council
Council can expect to experience consistency with their Asset Valuations in line with the guidelines to better manage asset depreciation.
Who Should Attend?
This course is open to anyone working in the local government sector and will be of particular interest to:
- Asset Managers
- Finance Professionals
- Integrated Planners