Analysing and Understanding GRAP Annual Financial Statements Workshop

Master GRAP Standards, MCS Comparison, and Confident Annual Financial Statement Analysis

Platform:

Online

In-class

Revised and Updated: 23 October 2026

Date	Venue	Duration
09 - 12 November 2026	Pretoria, Gauteng	4 Days
12 - 15 January 2027	Sandton, Gauteng	4 Days
08 - 11 February 2027	Sandton, Gauteng	4 Days
16 - 19 March 2027	Sandton, Gauteng	4 Days
25 - 28 May 2027	Sandton, Gauteng	4 Days
19 - 22 July 2027	Sandton, Gauteng	4 Days
16 - 19 August 2027	Sandton, Gauteng	4 Days
27 - 30 September 2027	Sandton, Gauteng	4 Days
29 November - 02 December 2027	Sandton, Gauteng	4 Days

Course Introduction

This GRAP Annual Financial Statements Review course gives delegates an overview of the requirements of the GRAP Standards, including a key high-level comparison between the Modified Cash Standard and GRAP, and analysis of Annual Financial Statements prepared on the GRAP standards. Prospen Africa’s workshop involves a high-level overview of the GRAP standards for accounting, the individual line items forming part of a GRAP-compliant set of Annual Financial Statements (AFS), and an overview of GRAP implementation challenges (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
Compare GRAP against the Modified Cash Standard (MCS) at a high level, including current 2026/27 MCS updates
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
Analyse 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 the GRAP Accounting Framework
Accounting Officers and Financial Staff
GRAP Financial Statement Preparers
Finance Interns and Other Junior Finance Staff
Officials Responsible for the Oversight of GRAP Financial Statements
Chief Financial Officers, Budget, and Treasury Officials
Finance Directors and Deputy Finance Directors
Budget Managers
Financial Reporting Managers

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

Day 1: General Presentation, Accounting Requirements, and GRAP vs. MCS

GRAP vs. Modified Cash Standard (MCS): High-Level Comparison

Distinguishing cash, accrual, and modified cash bases of accounting
Which entities apply GRAP vs. MCS, and why
Key structural differences in recognition, measurement, and disclosure between the two frameworks
Awareness of the current MCS, effective 1 April 2026 for the 2026/27 reporting period

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)

Day 2: Statement of Financial Performance and Related Notes

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 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)
Leases (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)

Day 3: Statement of Financial Position and Related Notes

Module Three: Statement of Financial Position and Related Notes

Current/non-current distinction
Property, Plant and Equipment (GRAP 17)
Investment Property (GRAP 16), including disclosure
Intangible Assets (GRAP 31), including those 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)

Day 4: Cash Flow, Net Assets, and Other Topics

Cash Flow Statement and Related Notes

General principles (GRAP 2)
Presentation of a Cash Flow Statement (GRAP 2)
Reporting Cash Flows from Operating, 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 principles (GRAP 1)
Information to be presented either on the face of the Statement of Changes in Net Assets or in the notes (GRAP 1)

Course Categories

Office Administration Courses ❯ Audit, Risk And Governance ❯ Compliance Courses ❯ Finance Courses ❯ Human Resources Training & Development ❯ View All Course Categories ❯

Course Registration Guide

Everything you need to know about registering for a Prospen training course.

View Registration Guide

Success Stories

Discover how our courses enhance professionals’ effectiveness in their workplaces.

uMngeni-uThukela Water

IFRS Updates Trainings

What made the sessions exceptionally helpful was the deliberate focus on actionable strategies rather than just high-level concepts. The structured approach kept the content engaging. It was a highly impactful professional development experience.

Telekom Networks Malawi Plc

Financial Analysis, Modelling and Forecasting

It has been a really fruitful and helpful training. Many thanks to PROSPEN AFRICA and the facilitator Olufemi. This is definitely going to make my work life easier and meaningful.

Northam Booysendal Mine

Mastering Payroll Preparation, Analysis, and Management

The course really taught us deep in to Payroll and made us aware of things we were not aware of.

Telekom Networks Malawi PLC

Financial Analysis, Modelling and Forecasting

The training was very insightful and the facilitator was very engaging which made everything easier to understand and follow. It has really equipped us in our areas of lack and we feel confident now on our next assignments on forecasts and analysis

Magalies Water

GRAP training

The course was practical, informative and relevant

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FAQs – Analysing and Understanding GRAP Annual Financial Statements Workshop

Develop GRAP financial reporting expertise through practical training covering annual financial statements, GRAP standards, financial analysis, disclosures, and reporting requirements.

What topics are covered in the Analysing and Understanding GRAP Annual Financial Statements workshop?

The workshop covers Standards of Generally Recognised Accounting Practice (GRAP) frameworks, public sector financial statement structures, asset and liability recognition, revenue and expenditure accounting, statement of financial performance interpretation, and navigating disclosure notes.

Who should attend this GRAP Annual Financial Statements training?

This training is designed for public sector accountants, municipal finance officers, internal auditors, chief financial officers (CFOs), audit committee members, and financial statement preparers operating within government and public entities.

How does this course assist delegates in interpreting public sector financial reports?

Delegates learn systematic methods to dissect GRAP-compliant financial statements, evaluate fiscal health, assess asset management efficiency, and understand the impact of accounting treatments on public accountability.

Will delegates learn how to ensure compliance with GRAP reporting standards?

Yes. The curriculum explores complex GRAP standards, recent amendments, disclosure requirements, accounting policy selections, and measures to prevent common audit findings by the Auditor-General.

Does the masterclass address audit readiness and correcting financial statement errors?

Yes. Practical sessions cover identifying prior period errors, processing retrospective adjustments, managing asset impairment evaluations, and preparing robust working papers for smooth audit cycles.

Why is understanding GRAP financial statements critical for public sector entities?

Mastering GRAP standards ensures statutory compliance, enhances transparency and accountability in public resource management, avoids adverse audit outcomes, and builds public trust.

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Analysing and Understanding GRAP Annual Financial Statements Workshop

Master GRAP Standards, MCS Comparison, and Confident Annual Financial Statement Analysis

Course Objectives

Who should attend?

Course Outline

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Course Introduction

Course Objectives

Who should attend?

Training Methodology

Training Outline

Course Categories

Course Registration Guide

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Success Stories

IFRS Updates Trainings

Financial Analysis, Modelling and Forecasting

Mastering Payroll Preparation, Analysis, and Management

Financial Analysis, Modelling and Forecasting

GRAP training

FAQs – Analysing and Understanding GRAP Annual Financial Statements Workshop

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