Overview   

Standards of Generally Recognised Accounting Practice (GRAP), are to the public sector what International Financial Reporting Standards (IFRS) are to private sector companies.  

Standards of GRAP are issued by the Accounting Standards Board (ASB) as a requirement of section 89 of the Public Finance Management Act (PFMA). The public sector is funded by public funds and as such the financial management of these funds requires strict compliance with prescripts.  

Standards of GRAP apply to government departments, Parliament, municipalities and commissions just to name a few.  Although generally similar to IFRS, these standards present some notable differences in the treatment of certain accounting concepts.  

Join Caryn Maitland CA(SA) on 18 May 2021 from 09:00 a.m. to 11:00 a.m. for this webinar as she takes you through standards of GRAP, their application and how they differ from similar IFRS.  

Learning objectives  

  By the end of this event the participant should: 

• Understand 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. 

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.