Introduction to Local Authority Capital Accounting
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At the end of the training course participants will have:
Acquired a basic knowledge of capital accounting in local government,
Gained an understanding of the role of capital accounting within the local authority SORP,
Developed a comprehensive understanding of what the important issues are currently and will be in the future and
Shared experiences and knowledge with other delegates. By the end of the course, you will:
Have a refreshed knowledge of all accounting standards and related issues
Be aware of how to keep up to date and the importance of financial reporting
Be more confident to comment on financial accounts others prepare, or design close down procedures or prepare financial accounts
Have a good awareness of public sector and not for profit accounting across the public sector as a whole - where it is similar and where it differs and why
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COURSE PROGRAMME
Introductory Presentation on the Capital Accounting Framework
Why capital accounting was introduced
What the framework is designed to achieve
Principles for construction and maintenance of the balance sheet
Principles for making charges to revenue
Case Study – Building and Maintaining the Balance Sheet
Identifying fixed assets
Classifying fixed assets
Accounting for new additions
Accounting for enhancements
Valuing fixed assets and the Fixed Asset Restatement Account
Accounting for disposals
