Asset Management Masterclass

Asset Management Masterclass

GRAP 17/IAS 16-Compliant Asset Management, from Capitalisation to Disposal

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Platform:
Online
In-class
Date Venue Duration
21 - 23 September 2026 East London, Eastern Cape 3 Days
07 - 09 December 2026 Sandton, Gauteng 3 Days

Course Introduction

This Asset Management Masterclass equips participants with the practical skills to manage public sector assets in full compliance with GRAP 17 and its international equivalent, IAS 16 (Property, Plant and Equipment) — from initial recognition and capitalisation, through depreciation and componentisation, to impairment and disposal.

Course Objectives

By the end of this Asset Management Masterclass, participants will be able to:
  • Apply the recognition, measurement, and disclosure principles of GRAP 17 and IAS 16 (Property, Plant and Equipment) to capitalise PPE correctly
  • Account for construction works, work in progress, and asset completion in terms of GRAP 17 and IAS 16
  • Distinguish between capital and revenue expenditure in an asset management context
  • Apply componentisation and depreciation methods correctly under GRAP 17/IAS 16
  • Correctly identify and account for intangible assets under GRAP 31 and IAS 38
  • Understand the distinct requirements of GRAP 13 (Leases), based on IAS 17, versus IFRS 16 — and avoid the common, documented error of applying IFRS 16 lease accounting where GRAP 13 actually applies
  • Perform impairment assessments and asset disposals correctly
  • Maintain a compliant, audit-ready fixed asset register

Who should attend?

  • Asset Managers and Asset Accountants
  • Financial Accountants and Financial Managers
  • Internal and External Auditors
  • Supply Chain and Asset Disposal Officials
  • Municipal and Public Entity Finance Staff Responsible for PPE Registers
  • Anyone Responsible for Preparing or Reviewing GRAP-Compliant Annual Financial Statements
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 1: Introduction to Asset Management
  • The role and importance of asset management in the public sector
  • Overview of the applicable accounting frameworks: GRAP and its IFRS/IAS equivalents
  • Key definitions and the asset lifecycle: acquisition, use, and disposal
Module 2: Accounting for Property, Plant and Equipment (GRAP 17 / IAS 16)
  • Recognition criteria for PPE under GRAP 17 and IAS 16
  • Initial measurement: cost, including directly attributable costs
  • Subsequent measurement: the cost model and the revaluation model
  • Componentisation and depreciation methods
  • Accounting for construction works, work in progress, and asset completion under GRAP 17 and IAS 16
  • Capital vs. revenue expenditure distinctions
Module 3: Intangible Assets (GRAP 31 / IAS 38)
  • Recognition and measurement of intangible assets
  • Internally generated vs. acquired intangible assets
  • Amortisation and impairment of intangible assets
Module 4: Leases — GRAP 13 vs. IFRS 16
  • GRAP 13, still based on the older IAS 17 lease accounting model, remains the current standard for public sector entities applying GRAP
  • IFRS 16 (all leases on the balance sheet as right-of-use assets) applies to IFRS reporters, not GRAP-compliant public sector entities
  • A common, documented misapplication: public sector entities that adopt IFRS 16-style right-of-use asset recognition are not in compliance with GRAP — practical guidance on avoiding this error
  • Practical lease classification and accounting under GRAP 13
Module 5: Impairment, Disposal, and the Fixed Asset Register
  • Impairment indicators and impairment testing
  • Asset disposal processes and accounting treatment
  • Maintaining a compliant, audit-ready fixed asset register
  • Common audit findings related to PPE and asset management, and how to avoid them

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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

FAQs – Asset Management Masterclass

Master lifecycle asset planning, risk-based maintenance strategies, asset performance modeling, and ISO 55000 compliance frameworks to maximize capital asset efficiency and optimize total cost of ownership.

What topics are covered in the Asset Management Masterclass?
The masterclass covers physical asset lifecycle strategies, ISO 55000 standards, asset risk management, total cost of ownership (TCO), reliability-centered maintenance (RCM), capital expenditure planning, asset performance metrics, and digital asset tracking systems.
Who should attend the Asset Management Masterclass?
This training is designed for asset managers, facility managers, operations directors, engineering supervisors, maintenance leads, capital planning officers, and infrastructure managers responsible for maximizing plant, property, and equipment returns.
What are the key learning objectives of this masterclass?
Delegates learn to build ISO 55001-compliant strategic asset management plans (SAMP), optimize preventive maintenance routines, extend asset useful lives, manage asset depreciation schedules, and reduce unexpected equipment downtime.
How long is the Asset Management Masterclass?
The programme is delivered as an intensive 5-day professional masterclass incorporating asset lifecycle modeling workshops, failure mode effect analysis (FMEA) exercises, and enterprise asset management case studies.
What practical skills will delegates gain from this masterclass?
Participants will gain practical skills in running life-cycle cost analyses, constructing asset health indexes, prioritizing capital replacement budgets, conducting root cause failure analyses, and auditing asset registers for accuracy.
Can Prospen Africa deliver this course as customized in-house training?
Yes. Prospen Africa can tailor the masterclass to align with your organization’s specific asset hierarchy, Computerized Maintenance Management System (CMMS/EAM), industry sector regulations, and operational risk profile.

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