Overview 

As IFRS is to private sector companies, so are standards of GRAP to the public sector.

But why have separate standards?

Standards of Generally Recognised Accounting Practice (GRAP) are accounting standards issued by the Accounting Standards Board (ASB). This a requirement of section 89 of the Public Finance Management Act (PFMA). Standards of GRAP are applied to government departments, Parliament, municipalities and commissions just to name a few.

Although generally similar, there are notable differences between the treatment of certain accounting concepts in the private sector vs the public sector. The aim of this webinar is to discuss the standards of GRAP as a whole and then point out specific differences with IFRS.

Join Caryn Maitland CA(SA) on 9 September 2020 from 09:00 a.m. to 11:00 a.m. for this webinar as she takes you through standards of GRAP and their application.

Learning objectives

By the end of this event the participant should:

• Have an understanding of what standards of GRAP are;
• Understand the broad application of GRAP;
• Understand the principle difference between IFRS and GRAP;
• Understand differences between specific IFRS and GRAP; and
• Understand practical application of specific standards of GRAP.

Content

The webinar will cover the following topics:

• Introduction to GRAP.
• IFRS vs GRAP - A general comparison.
• IFRS vs GRAP - Specific differences:
  • Treatment of assets.
  • The concept of capital.
  • Liabilities.
  • Equity/Net Assets.
  • Revenue/Income.
• GRAP 1 - Presentation of Financial Statements.
• GRAP 2 - Cash Flow Statements.
• GRAP 3 - Accounting Policies, Changes in Accounting Estimates and Errors.
• GRAP 6 - Consolidated and Separate Financial Statements.

Obtaining your CPD certificate

This webinar qualifies for 2 CPD hours with your professional body including: ACCA, SAICA, AAT, SAIPA, SAIBA, IAC, CIS, ICBA, LSSA, FPI, and the IBA. The SAAA CPD policy is compliant with IFAC IES7 and is recognised by all relevant professional bodies.

All attendees are issued with a CPD certificate available in an online profile.

About the presenter

Caryn Maitland CA(SA)

Caryn Maitland is a Chartered Accountant (SA). She has been a member of IRBA as a registered auditor and accountant since 2002 and is also a registered member of SAICA.

Caryn has lectured Auditing and Accounting at various institutions and has conducted independent workshops and seminars for professional accountants since 2006 on various topics.

Caryn has presented on the national tour for the annual Legislation Update with ProBeta Training (Pty) Ltd in 2014 and 2015, as well as on the FASSET national tour for the Tax Administration Act in 2014.  She is also involved with the annual SAICA SMP Technical tour.

Who should attend?

The following persons will benefit from attending this webinar:

• Professional Accountants including: RA, CA(SA), PA(SA) and BAP(SA);
• Accounting Officers;
• Bookkeepers; and
• Accounting/audit trainees.

Price            

• R 475.00 - Online admission - Individual.
• R 950.00 - Online admission - Company.
• R 0.00 - Paid-up CPD subscribers.

Steps to register for the event:

If you already have a profile, login and register for the webinar.

If you don’t have a profile, create a free profile then login and register for the webinar.

Click here to create a free profile (There is no charge to create a profile and gain access to our free Monthly Practice Management Series).

Click here to find out about the Technical Resource Centre & CPD Subscription options.

Additional material

By attending this webinar you will be provided with:

• Summarised slide presentation.
• Reference documents and/or course material where available.
• You can ask questions during the webinar and you will also have access to me the presenter after the webinar.