prospen.co.za

ProspenAfrica | Training and Consulting Services Provider

Analyzing and understanding GRAP Annual Financial Statements Workshop

4 Day Training

Dates: 12 – 16 August | 01 – 04 October 2024
Locations: Johannesburg, South Africa
Platform: Available In-Class / Online

Price: Available on request

Course Introduction

GRAP Annual Financial Statements Review course gives a delegate an overview of the requirements of the GRAP Standards (and doing a key comparison between Modified Cash Standard to GRAP at high-level), and the analysis of the Annual Financial Statements prepared on the GRAP standards. This course will involve a high-level overview of the GRAP standards for accounting as well as the individual line items as part of an GRAP compliant set of annual financial statements (AFS) and an overview GRAP implementation challenge (theoretical definitions, recognition requirements, practical considerations, examples).

Course Objectives

  • Provide an overview of the requirements of the GRAP Standards and facilitate a high-level understanding of Annual Financial Statements (AFS) prepared according to these standards.

  • Identify and address the needs of financial professionals responsible for preparing and overseeing GRAP financial statements.

  • Understand the foundational components and performance requirements of GRAP financial statements.

  • Analyze the presentation and disclosure of financial performance and related notes under GRAP standards.

  • Examine the financial position statement’s recognition, measurement, and disclosure of assets and liabilities.

  • Understand the preparation and presentation of the cash flow statement and related disclosures.

  • Comprehend the reporting requirements and disclosures for changes in net assets

Who should attend?

  • Officials from entities who apply GRAP accounting framework,

  • Accounting Officers and financial staff

  • GRAP financial statement preparers,

  • finance interns and other

  • Official responsible for the oversight of GRAP financial statements,

  • Chief financial officers, budget, and treasury officials,

  • Finance Directors, deputy Finance Director,

  • Budget managers,

  • Financial reporting managers

Finance Courses

Training Methodology

Our diverse instructional approaches ensure effective learning:

– Lectures & Presentations: Engage with expert-driven, stimulating content.
– Course Material: Access well-crafted supporting resources.
– Group Work: Collaborate on discussions and case studies for practical insights.
– Workshops & Role-Play: Participate in immersive, scenario-based activities.
– Practical Application: Focus on applying theoretical knowledge in real situations.
– Post-Training Support: Receive extensive support after training for skill implementation.

Training Outline

MODULE ONE: General Presentation and Accounting Requirements

  • Components of the Financial Statements (GRAP 1)

  • Fair presentation and compliance with the Standards of GRAP (GRAP 1)

  • GRAPs approved but not yet effective (GRAP 3)

  • Identification of Financial Statements (GRAP 1)

  • Reporting Period (GRAP 1)

  • Going Concern (GRAP 1)

  • Consistency of Presentation (GRAP 1)

  • Materiality and Aggregation (GRAP 1)

  • Offsetting (GRAP 1)

  • Comparative Information (GRAP 1)

  • Notes To the Financial Statements (GRAP 1)

  • Key Sources of Estimation Uncertainty (GRAP 1)

  • Disposal Decisions (GRAP 1)

  • Transactions And Balances in Foreign Currencies (GRAP 4)

  • Accounting Policies (GRAP 3)

  • Changes in Accounting Estimates (GRAP 3)

  • Errors (GRAP 3)

MODULE TWO: Statement of Financial Performance and Related Notes  

  • Information to be Presented on the Face of the Statement (GRAP 1)

  • Information to be Presented Either on the Face of the Statement of Financial Performance or in the Notes (GRAP 1)

  • Borrowing Costs Benchmark Treatment (GRAP 5)

  • Revenue from Exchange Transactions (GRAP 9)

  • Revenue From Non-Exchange Transactions (Taxes and Transfers) (GRAP 23)

  • Construction Contracts (GRAP 11)

  • Lease (GRAP 13)

  • Investment Property (GRAP 16)

  • Property Plant and Equipment (GRAP 17)

  • Intangible Assets (GRAP 31)

  • Heritage Assets (GRAP 103

  • Agriculture (GRAP 27

  • Living and Non-living Resources (GRAP 110)

  • Impairment of Assets (GRAP 21 and GRAP 26)

  • Inventories (GRAP 12)

  • Provisions, Contingent Liabilities and Contingent Assets (GRAP 19)

  • Service Concession Arrangements: Grantor (GRAP 32)

  • Employee Benefits (GRAP 25)

  • Accounting by Principals and Agents (GRAP 109)

MODULE THREE:

Statement of Financial Position and Related Notes

  • Current/Non-current Distinction

  • Property, Plant and Equipment (GRAP 17)

  • Investment Property (GRAP 16)

  • Disclosure (GRAP 16)

  • Intangible Assets (GRAP 31)

  • Intangible assets with finite useful lives

  • Heritage Assets (GRAP 103)

  • Agriculture (GRAP 27)

  • Living and Non-living Resources (GRAP 110)

  • Impairment of assets (GRAP 21 and GRAP 26)

  • Capitalisation of borrowing costs (allowed alternative treatment) (GRAP 5)

  • Inventories (GRAP 12)

  • Construction contracts (GRAP 11)

  • Financial Instruments (GRAP 104

  • Statutory Receivables (GRAP 108)

  • Receivables and Payables from Non-Exchange Revenue Transactions (GRAP 23)

  • Provisions, Contingent Liabilities and Contingent Assets (GRAP 19)

  • Leases (GRAP 13)

  • Service Concession Arrangements: Grantor (GRAP 32)

  • Employee Benefits (GRAP 25)

  • Accounting by Principals and Agents (GRAP 109)

Cash Flow Statement and Related Notes

  • General (GRAP 2)

  • Presentation of a Cash Flow Statement (GRAP 2)

  • Reporting Cash Flows from Operating Activities (GRAP 2)

  • Reporting Cash Flows from Investing and Financing Activities (GRAP 2)

  • Reporting Cash Flows on a Net Basis (GRAP 2)

  • Foreign Currency Cash Flows (GRAP 2)

  • Interests and Dividends (GRAP 2)

  • Taxes on Surplus (GRAP 2)

  • Acquisitions And Disposals of Controlled Entities and Other Operating Units (GRAP 2)

  • Components of Cash and Cash Equivalents (GRAP 2)

  • Other Disclosures (GRAP 2)

MODULE FOUR: Statement of Changes in Net Assets

  • General (GRAP 1)

  • Information to be Presented Either on the Face of the Statement of Changes in Net Assets or in the Notes (GRAP 1)

Other Topics

  • Events After the Reporting Date (GRAP 14)

  • Segment Reporting (GRAP 18)

  • Presentation of Budget Information (GRAP 24)

  • Discontinued Operations (GRAP 100)

Related Courses

Accounting For Value Added Tax
Dates: 07 - 08 Oct 2024

Accounting for Value Added Tax

2 Day Training

View More
Accounting For Value Added Tax (With Updates)
Dates: 05 Aug | 28 Oct 2024

Accounting For Value Added Tax (With Updates)

1 Day Training

View More
Accounts Payables, Reconciliations and Income Tax Training
Dates: 29 - 30 Aug | 07 - 08 Nov 2024

Accounts Payables, Reconciliations and Income Tax Training

View More
Accounts Payable: From Accounting to Management
Dates: 14 - 15 Aug | 16 - 17 Oct 2024

Accounts Payable: From Accounting to Management

2 Day Training

View More

Open chat
Need Help? Chat with Us
Scan the code
Powered by Prospen Africa
Welcome to Prospen Africa!
Check out our 15% Off sale when you purchase QCTO Training Material