Reading, Understanding & Analysing Generally Recognised Accounting Practices (GRAP) Annual Financial Statements
Course overview:
In terms of section 89 of the Public Finance Management Act (PFMA), the Accounting Standards Board (ASB) is required to formulate standards of Generally Recognised Accounting Practice (GRAP) to be applicable to public entities. Generally, entities within the public sector have a service delivery objective rather than a profit-orientated objective
Course details:
The Standards of GRAP were developed to reliably account for the service potential as opposed to the future economic benefits embodied in the entity. This how to Read, Understand and Analyse GRAP Annual Financial Statements short course provides an overview of requirements of GRAP Standards (and discussing of key differences between Modified Cash Standard to GRAP at high level), and the analysis of the Annual Financial Statements prepared on the GRAP standards. |
By the end of this APS training course, participants will be able to:
- Have a high-level understanding of GRAP standards as accounting framework
- Have an understanding of the impact on various line items and disclosures as part of an GRAP compliant set of annual financial statements (AFS) and also an overview GRAP conversion and implementation challenges (theoretical definitions, recognition requirements, practical considerations, examples) pertaining to the grouping of the standards
This course is ideal for finance personnel in the public sector. Officials from the public sector such as: –
Chief financial officers
Finance Managers & Officers
Budget and treasury officials
GRAP framework accounting personnel
Accounting and financial Officers
GRAP financial statement preparers
Accountants
Finance interns
Oversight of GRAP financial statements personnel
Four days |