Mastering GRAP Standards for Public Sector Financial Reporting
Comprehensive training on the Generally Recognised Accounting Practice (GRAP) framework for public sector entities, ensuring compliance, transparency, and audit readiness.
Generally Recognized Accounting Practices - GRAP Standards Training
Comprehensive training on the Generally Recognised Accounting Practice (GRAP) framework for public sector entities, ensuring compliance, transparency, and audit readiness.
Course Overview
This course provides a comprehensive understanding of the Generally Recognised Accounting Practice (GRAP) framework, which governs financial reporting for public sector entities in South Africa. Participants will learn how to apply core GRAP principles in preparing and presenting financial statements that ensure transparency, accountability, and comparability across the public sector. The program covers both the conceptual framework and detailed application of individual GRAP standards, equipping participants with the skills to interpret, record, and report transactions accurately in line with the requirements of the Accounting Standards Board (ASB).
By the end of this course, participants will be able to:
- Understand the objectives, structure, and legal foundation of GRAP.
- Apply key GRAP standards in preparing public sector financial statements.
- Differentiate between GRAP, IFRS, and IPSAS frameworks.
- Account for assets, liabilities, revenues, and expenses in compliance with GRAP.
- Enhance transparency and accountability in public sector reporting.
- Implement disclosure requirements and improve audit readiness.
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