Who should attend: This course is designed for University Finance staff and contractors who engage in the recording of fixed assets, and is especially useful to those who are responsible for identifying and recording capex in schools or professional service departments. Please ensure you have a UBW log on and access to the Masterfile before the session.
Description: This course provides an overview of the nature of fixed assets, the University capital expenditure policy and the processes required to record work in process and completed assets. The aim of this session is to ensure all staff who identify/record capital expenditure are aware of the common issues which can arise whilst processing capex.
It will take you through University's capex policy, the expenditure allowable/disallowable, the processes for recording capex and the common issues which can arise.
This course focuses on the processes for identifying and recording capital expenditure.
Objectives: To cover the policies and procedures relating to fixed assets at the University of Nottingham. As a result of this course you should:
understand the nature of capital expenditure (including what expenditure the University considers to be capital or revenue in nature)
know how to record/report on fixed assets and generate related reports in Business World
know how to identify and record capital expenditure through the use of Business World and capex forms
know how to approach additions, disposals & transfers of fixed assets
be aware of the common pitfalls in the recording of capex (including issues with non-allowable expenditure, VAT & deferred capital grants)
understand the requirements and processes involved in the year-end verification of fixed assets
if required, be confident in using enquiries and reports within Business World in relation to fixed assets/depreciation
Please note: No refreshments are provided but feel free to bring your own drink/food with you