Getting to Grips with GRAP 2021

To give attendees an overview of GRAP standards and their practical application. May 2021

WHAT YOU WILL LEARN

By the end of this event the attendee should:  

    • Understand what standards of GRAP are;
    • Understand the broad application of GRAP;
    • Understand the principle difference between IFRS and GRAP;
    • Understand differences between specific IFRS and GRAP; and
    • Understand practical application of specific standards of GRAP.

DESCRIPTION

Standards of Generally Recognised Accounting Practice (GRAP), are to the public sector what International Financial Reporting Standards (IFRS) are to private sector companies. 

Standards of GRAP are issued by the Accounting Standards Board (ASB) as a requirement of section 89 of the Public Finance Management Act (PFMA). The public sector is funded by public funds and as such the financial management of these funds requires strict compliance with prescripts. 

Standards of GRAP apply to government departments, Parliament, municipalities and commissions just to name a few.  Although generally similar to IFRS, these standards present some notable differences in the treatment of certain accounting concepts. 

Join us as we take you through the standards of GRAP, their application and how they differ from similar IFRS.

PRICE

The following pricing apply:

Ad hoc: R475 for this webinar
Subscription: Included for free in Accountant in Practice plus Tax, Accountant in Practice and Bookkeeper package.

CONTENT

Study Unit 1

Introduction to GRAP. 

Study Unit 2

IFRS vs GRAP – A general comparison

Study Unit 3

IFRS vs GRAP – Specific differences:

  • Treatment of assets.
  • The concept of capital.
  • Liabilities.
  • Equity/Net Assets.
  • Revenue/Income.
Study Unit 4

GRAP 1 – Presentation of Financial Statements

Study Unit 5

GRAP 2 – Cash Flow Statements

Study Unit 6

GRAP 3 – Accounting Policies, Changes in Accounting Estimates and Errors

Study Unit 7

GRAP 6 – Consolidated and Separate Financial Statements

REQUIREMENTS

There are no preconditions for this course.
Moderate level.
Recorded webinar made available on a specified date

PRESENTER

Caryn Maitland CA (SA)

Caryn Maitland is a Chartered Accountant (SA). She has been a member of IRBA as a registered auditor and accountant since 2002, Caryn has lectured Auditing and Accounting at various institutions and has conducted independent workshops and seminars for professional accountants since 2006 on various topics.

ADDITIONAL MATERIAL

By attending this webinar, you will be provided with:
– Summarised slide presentation.
– Reference documents and / or course material where available.
– Access to a technical knowledge base.
– Recorded webinar that includes an expert presenter and participant interaction.

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R 475 VAT Incl.

Additional Course Information

Category Accounting
Accredited SAIBA
Verifiable CPD Hours 3
Non-verifiable CPD Hours N/A
Effort 3 hours
Duration 3 hours
Format Webinar
Level Moderate
Assessment Yes
Study Material No
Course Date 20 May, 2021
SKU CPD200288M Categories ,

Who should attend?

Business Accountants in Practice (SA)
Business Accountants (SA)
Certified Business Accountants (SA)
Bookkeepers
Company Secretaries
Accounting and Auditing support staff
Accounting Officers
HR Practitioners
Accounts assistants

This event is included in the following subscription packages:

If you are not a subscriber, you need to purchase the event as a stand-alone event or subscribe to a SAIBA subscription package.

How to subscribe

Subscribers pay less for their CPD points.
SAIBA offers 4 subscription packages that provides access to everything to run a successful accounting and tax practice.

Pay a small monthly amount and gain access to monthly webinars covering ethics, financials, reporting, audit and assurance, working papers, law, technology, management topics, and tax.

CONTACT US

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