Programme Overview
The Generally Recognised Accounting Practices (GRAP) course covers key concepts, legislation and standards relating to GRAP in the South African context, as well as linkages to international practice and standards. Within the context of the International Public Sector Accounting Standard (IPSAS), a distinction is made between GRAP and GAAP. Success or failure factors in accounting are discussed.
Learning Outcomes
- Discuss principles of sound financial management
- Explain GRAP concepts, terminology and definitions;
- Recognise the link between GRAP and the Public Finance Management Act (PFMA
- Explain the international position in Standard Setting in the Public Sector
- Understand the System of National Accounts and Government Finance statistics
- Describe and distinguish between different accounting systems such as the accrual basic accounting system, the modified accrual basis accounting system, the cash basis accounting system and the modified cash basis system
- Explain essential issues of financial reporting
- Make the links between different standards, namely: International Public Sector
- Accounting Standard (IPSAS), Generally Recognised Accounting Practices (GRAP) and
- Generally Accepted Accounting Practices (GAAP)
- Discuss success and failure factors in public service accounting.
Duration
- 2 Days contact time including facilitation and group activities.
