| Date | Venue | Duration | |
|---|---|---|---|
| 17 - 19 August 2026 | Sandton | 3 Days | |
| 14 - 16 October 2026 | Pretoria | 3 Days | |
| 16 - 18 November 2026 | Sandton | 3 Days |
GRAP 104 – Financial Instruments provides guidance on the recognition, classification, measurement, presentation, and disclosure of financial instruments within public sector entities.
Public sector institutions increasingly engage in complex financial arrangements such as loans, receivables, payables, guarantees, investments, borrowings, and derivatives, making correct application of GRAP 104 critical for compliance, transparency, and audit assurance.
This GRAP 104 – Financial Instruments (Public Sector Application) course is designed to translate technical accounting requirements into practical, real-world public sector applications, supported by examples relevant to government departments, municipalities, public entities, and state-owned institutions.
By the end of this Prospen Africa GRAP 104 – Financial Instruments (Public Sector Application) course, participants will be able to:
Understand the scope and structure of GRAP 104
Identify and classify financial assets and financial liabilities
Apply correct initial recognition and measurement principles
Distinguish between amortised cost and fair value measurement
Account for loans, receivables, payables, investments, and borrowings
Apply impairment principles to financial assets
Understand derecognition rules for financial instruments
Apply presentation and disclosure requirements in Annual Financial Statements
Prepare for audit scrutiny and compliance assessments
This GRAP 104 – Financial Instruments (Public Sector Application) course is suitable for:
Finance Managers and Finance Officers
Management and Financial Accountants
Chief Financial Officers (CFOs) and Deputy CFOs
Internal and External Auditors
Treasury and Budget Officers
Financial Reporting Specialists
Supply Chain and Contract Management Officers (financial contracts focus)
Risk Management and Compliance Officers
Public Sector Consultants and Advisors
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.
Introduction & Classification of Financial Instruments
Session 1: Overview of GRAP 104
Purpose and objectives of GRAP 104
Relationship with other GRAP Standards
Scope and exclusions
Public sector relevance and compliance expectations
Session 2: Key Definitions and Concepts
Financial instruments explained
Financial assets vs financial liabilities
Equity instruments (where applicable)
Contractual rights and obligations
Session 3: Classification of Financial Instruments
Loans and receivables
Investments and deposits
Trade and other receivables
Trade and other payables
Borrowings and overdrafts
Guarantees and commitments
Session 4: Initial Recognition
When to recognise a financial instrument
Transaction date vs settlement date
Initial measurement principles
Transaction costs treatment
Practical Exercise:
Identify and classify common public sector financial instruments
Measurement, Impairment & Derecognition
Session 5: Subsequent Measurement
Amortised cost method
Effective interest rate (EIR) explained
Fair value measurement (where applicable)
Re-measurement at reporting date
Session 6: Loans and Concessionary Loans
Market vs non-market interest rates
Treatment of concessional loans
Impact on surplus/deficit
Day-one gain or loss
Session 7: Impairment of Financial Assets
Objective evidence of impairment
Individually assessed vs collectively assessed assets
Impairment of receivables
Write-offs vs provisions
Session 8: Derecognition
Derecognition of financial assets
Derecognition of financial liabilities
Modifications and restructurings
Practical Exercise:
Impairment calculation for receivables and loans
Presentation, Disclosure & Audit Considerations
Session 9: Presentation in Financial Statements
Statement of Financial Position presentation
Current vs non-current classification
Netting and offsetting rules
Session 10: Disclosure Requirements
Risk disclosures (credit, liquidity, market risk)
Accounting policy disclosures
Fair value disclosures
Maturity analysis
Session 11: GRAP 104 and Audit Expectations
Common audit findings and pitfalls
Documentation and evidence required
Internal controls over financial instruments
Session 12: Implementation Challenges & Best Practices
Common public sector challenges
Practical implementation tips
Alignment with treasury and SCM processes
Session 13: Case Study & Group Discussion
End-to-end accounting treatment of a financial instrument
Group presentations and feedback
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