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GRAP IPSAS Financial Reporting

The document provides information on a short course on GRAP/IPSAS Financial Reporting presented by the University of Pretoria's Department of Auditing and Ducharme Training Institute. The course provides in-depth knowledge of implementing and reporting under South Africa's Generally Recognised Accounting Practice (GRAP) and International Public Sector Accounting Standards (IPSAS). It focuses on recognition, measurement and disclosure requirements, and teaches how to prepare GRAP/IPSAS compliant annual financial statements. The course learning outcomes cover topics such as accounting for transactions, assets, liabilities, revenue, and more.

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139 views3 pages

GRAP IPSAS Financial Reporting

The document provides information on a short course on GRAP/IPSAS Financial Reporting presented by the University of Pretoria's Department of Auditing and Ducharme Training Institute. The course provides in-depth knowledge of implementing and reporting under South Africa's Generally Recognised Accounting Practice (GRAP) and International Public Sector Accounting Standards (IPSAS). It focuses on recognition, measurement and disclosure requirements, and teaches how to prepare GRAP/IPSAS compliant annual financial statements. The course learning outcomes cover topics such as accounting for transactions, assets, liabilities, revenue, and more.

Uploaded by

romeo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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GRAP/IPSAS Financial Reporting

Presented by the Department of Auditing, University of Pretoria and Ducharme Training Institute

The GRAP/IPSAS Financial Reporting short course provides you with detailed and in-depth knowledge
of the implementation and financial reporting structures of the Generally Recognised Accounting Practice
(GRAP) and International Public Sector Accounting Standards (IPSAS) as required of all South African (and
international) public sector entities. The course focuses on the recognition, measurement (both initial and
subsequent) and disclosure requirements of these standards, and provides you with practical guidance
in the preparation and compilation of GRAP/IPSAS compliant annual financial statements. You will also
gain invaluable insights to financial performance cycles and relevant audit processes for public sector
departments, entities and municipalities.

This course is presented in collaboration with the Ducharme Institute.

Ducharme Training Institute provides specialist public sector training and capacity building support within
financial management, accounting and governance, whereby the focus is to improve the ability and capacity
of the public sector entities to comply with all relevant finance legislation and best practice requirements.
Ducharme have been presenting training on GRAP and other public sector financial management subjects
to officials from all spheres of SA Government for the past 10 years. They have assisted more than 100 public
sector entities with the implementation of GRAP and other National Treasury finance reform initiatives.

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enterprises.up.ac.za
GRAP/IPSAS Financial Reporting
Presented by the Department of Auditing, University of Pretoria and Ducharme Training Institute

Learning outcomes

1. Accounting for transactions – general

1.1 The Accounting framework for South African public sector entities GRAP (IPSAS) Framework
1.2 Accounting for changes in accounting policies, changes in accounting estimates and errors GRAP 3 (IPSAS 3)
1.3 Preparation of the Cash Flow Statement GRAP 2 (IPSAS 2)
1.4 Accounting for events after the reporting date GRAP 14 (IPSAS 14)
1.5 Accounting for discontinued operation GRAP 100
1.6 Accounting for foreign exchange transactions GRAP 4 (IPSAS 4)
1.7 Accounting for employee benefits (Defined benefit plans) GRAP 25 (IPSAS 25)
1.8 Accounting for financial instruments GRAP 104
1.9 Preparation of consolidated AFS’s GRAP 6, 7 and 8 (IPSAS 6, 7 and 8)
1.10 Suspense accounts
1.11 VAT
1.12 Related party disclosures GRAP 20 ( IPSAS 20)
1.13 Borrowing cost GRAP 5 (IPSAS 5)
1.14 Presentation of FS’s GRAP 1 (IPSAS 1)
1.15 Segmental reporting GRAP 18 (IPSAS 18)
1.16 Budget information in financial statements GRAP 24 (IPSAS 24)
1.17 Segment reporting GRAP 18
1.18 Service concession arrangements (Grantor) GRAP 32

2. Accounting for assets

2.1 Accounting for property, plant and equipment GRAP 17 (IPSAS 17)
2.2 Inventories GRAP 12 (IPSAS 12)
2.3 Investment property GRAP 16 (IPSAS 16)
2.4 Intangible assets GRAP 31 (IPSAS 31)
2.5 Agricultural assets GRAP 27 (IPSAS 27)
2.6 Heritage assets GRAP 103
2.7 Statutory receivables GRAP 108

3 Accounting for liabilities

3.1 Accounting for provisions, contingent and contingent assets GRAP 19 (IPSAS 19)
3.2 Accounting for trust funds
3.3 Accounting for leases GRAP 13 (IPSAS 13)
3.4 Consumer deposits

4 Accounting for revenue GRAP 9 and 23 (IPSAS 9 and 23)

5 Accounting for unauthorised, irregular, fruitless and wasteful expenditure

6 Transfer of functions/mergers GRAP 107

6.1 Between entities under common control GRAP 105


6.2 Between entities not under common control GRAP 106

7 Accounting for funds and reserves

7.1 Accounting for the revaluation reserve


7.2 Housing development fund
7.3 Accounting for the accumulated surplus
7.4 Internal funds and reserves in accumulated surplus

Shifting knowledge to insight

www.enterprises.up.ac.za
+27 (0)12 434 2500 +27 (0)12 434 2505 [email protected] Private Bag X41, Hatfield, 0028

For quotations on in-house training, email [email protected]


GRAP/IPSAS Financial Reporting
Presented by the Department of Auditing, University of Pretoria and Ducharme Training Institute

Learning outcomes Admission requirements


After successfully completing this course, you will be able to Prospective delegates must at least have an accounting degree
or minimum five years’ practical accounting experience.
• understand the GRAP/IPSAS accounting reporting
framework applicable in the period 2018/2019, and Additional courses in this specialised field:
• detail facilitation of the GRAP/IPSAS accounting
treatment of the Standards of GRAP/IPSAS, read along • IPSAS/SA GRAP Implementation (15 days)
with the Interpretations of Standards of GRAP (iGRAPS), • Asset Management and GRAP accounting (5 days)
where relevant, and practical guidance on the practical • How to Read, Understand and Analyse GRAP AFS (5 days)
implementation of these standards. This includes: • How to Prepare GRAP AFS and Manage the Audit Process,
• all GRAP/IPSAS measurement, recognition and and Improvement (5 days)
disclosure requirements • Financial Accounting Foundation (5days)
• discussion of the latest approved and effective GRAP • Modified Cash Standards (5 days)
Standards to assist public sector entities to plan and • Municipal Revenue Management (4 days)
prepare for the new requirements well in advance,
and Accreditation and certification
• frequently asked questions on the standards of GRAP,
where relevant. Enterprises University of Pretoria (Pty) Ltd is wholly owned
by the University of Pretoria. As a public higher education
Who should enrol? institution, the University of Pretoria functions in accordance
to the Higher Education Act 101 of 1997. Enterprises University
This course is ideal for you if you are of Pretoria offers short courses on behalf of the University
and these short courses are not credit-bearing, and do not
• a financial or non-financial official from public sector lead to formal qualifications on the National Qualifications
entities who applies GRAP/IPSAS, e.g. Framework (NQF) – unless stated otherwise. Delegates who
• Municipal Managers, successfully complete a short course and comply with the
• Chief Financial Officers, related assessment criteria (where applicable) are awarded
• Departmental/Division Managers (e.g. Assets, certificates of successful completion and/or attendance by
Revenue, Expenditure etc.) the University of Pretoria.
• an official involved in GRAP/IPSAS compliant Annual
Financial Statements (AFS) compilation or processing of Registration and enquiries
information included in the AFS, and
• an official in the employ of the National Treasury as well Course coordinator
as the various Provincial Treasuries who advise and guide Janine Scheepers
South African public sector entities in the application of Tel: +27 (0)12 434 2579
GRAP. Cell: +27 (0)71 234 6936
Email: [email protected]
Course fees
Course leader
R33 500.00 per delegate (VAT incl.) Prof Herman de Jager
Course fees include all course material, refreshments and Department of Auditing
other materials. Tel: +27 (0)12 420 6955 / 4427
Email: [email protected]
Course fees must be paid in full 14 days prior to course
start dates. Proof of payment can be submitted to
[email protected].

Shifting knowledge to insight

www.enterprises.up.ac.za
+27 (0)12 434 2500 +27 (0)12 434 2505 [email protected] Private Bag X41, Hatfield, 0028

For quotations on in-house training, email [email protected]

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