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Analysing and Understanding GRAP Annual Financial Statements Workshop

Analysing and Understanding GRAP Annual Financial Statements Workshop

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

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Platform:
Online
In-class
Date Venue Duration
Available on Request Sandton, Gauteng Available on Request

Course Objectives

Who should attend?

Course Outline

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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
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

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)
Other Topics
  • Events After the Reporting Date (GRAP 14)
  • Segment Reporting (GRAP 18)
  • Presentation of Budget Information (GRAP 24)
  • Discontinued Operations (GRAP 100)
  • Related standards now effective and previously missing from this course: GRAP 34 (Separate Financial Statements), GRAP 35 (Consolidated Financial Statements), GRAP 36 (Investments in Associates and Joint Ventures), GRAP 37 (Joint Arrangements), and GRAP 38 (Disclosure of Interests in Other Entities)

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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 is covered in the Analysing and Understanding GRAP Annual Financial Statements Workshop?
The workshop covers GRAP requirements, Annual Financial Statements (AFS), financial performance, financial position, cash flow statements, net assets and related disclosures.
Who should attend GRAP Annual Financial Statements training?
The training is designed for GRAP financial statement preparers, accounting and finance staff, CFOs, finance directors, budget and treasury officials, and professionals responsible for overseeing GRAP financial statements.
Does the workshop explain how to analyse GRAP financial statements?
Yes. Participants learn how to understand and analyse GRAP-compliant financial statements, including financial performance, financial position, cash flows, changes in net assets and supporting notes.
Which GRAP standards are covered in the workshop?
The programme covers key standards including GRAP 1, GRAP 2, GRAP 3, GRAP 9, GRAP 17, GRAP 19, GRAP 21, GRAP 23, GRAP 25, GRAP 26, GRAP 31 and other relevant GRAP requirements.
Does the GRAP workshop cover the statement of financial position and cash flow statement?
Yes. The course examines the recognition, measurement and disclosure of assets and liabilities, as well as operating, investing and financing cash flows and related GRAP 2 disclosures.
Is the GRAP Annual Financial Statements workshop suitable for public sector finance professionals?
Yes. The workshop is specifically relevant to officials and finance professionals working in entities that apply the GRAP accounting framework and who prepare, review or oversee Annual Financial Statements.

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