Analysing and Understanding GRAP Annual Financial Statements Workshop

The programme

Programme overview

This GRAP Annual Financial Statements Review course gives delegates an overview of the requirements of the GRAP Standards, including a key high-level comparison between the Modified Cash Standard and GRAP, and analysis of Annual Financial Statements prepared on the GRAP standards. Ratomac workshop involves a high-level overview of the GRAP standards for accounting, the individual line items forming part of a GRAP-compliant set of Annual Financial Statements (AFS), and an overview of GRAP implementation challenges (theoretical definitions, recognition requirements, practical considerations, examples).

Who should attend

Who is this programme for?

• Officials from Entities Who Apply the GRAP Accounting Framework
• Accounting Officers and Financial Staff
• GRAP Financial Statement Preparers
• Finance Interns and Other Junior Finance Staff
• Officials Responsible for the Oversight of GRAP Financial Statements
• Chief Financial Officers, Budget, and Treasury Officials
• Finance Directors and Deputy Finance Directors
• Budget Managers
• Financial Reporting Managers

Learning outcomes

What you will learn

• Provide an overview of the requirements of the GRAP Standards and facilitate a high-level understanding of Annual Financial Statements (AFS) prepared according to these standards
• Compare GRAP against the Modified Cash Standard (MCS) at a high level, including current 2026/27 MCS updates
• Identify and address the needs of financial professionals responsible for preparing and overseeing GRAP financial statements
• Understand the foundational components and performance requirements of GRAP financial statements
• Analyse the presentation and disclosure of financial performance and related notes under GRAP standards
• Examine the financial position statement's recognition, measurement, and disclosure of assets and liabilities
• Understand the preparation and presentation of the cash flow statement and related disclosures
• Comprehend the reporting requirements and disclosures for changes in net assets

Explore the programme

Detailed programme outline

• Distinguishing cash, accrual, and modified cash bases of accounting
• Which entities apply GRAP vs. MCS, and why
• Key structural differences in recognition, measurement, and disclosure between the two frameworks
• Awareness of the current MCS, effective 1 April 2026 for the 2026/27 reporting period
• Components of the Financial Statements (GRAP 1)
• Fair presentation and compliance with the Standards of GRAP (GRAP 1)
• GRAPs approved but not yet effective (GRAP 3)
• Identification of Financial Statements (GRAP 1)
• Reporting Period (GRAP 1)
• Going Concern (GRAP 1)
• Consistency of Presentation (GRAP 1)
• Materiality and Aggregation (GRAP 1)
• Offsetting (GRAP 1)
• Comparative Information (GRAP 1)
• Notes to the Financial Statements (GRAP 1)
• Key Sources of Estimation Uncertainty (GRAP 1)
• Disposal Decisions (GRAP 1)
• Transactions and Balances in Foreign Currencies (GRAP 4)
• Accounting Policies (GRAP 3)
• Changes in Accounting Estimates (GRAP 3)
• Errors (GRAP 3)
• Information to be presented on the face of the statement (GRAP 1)
• Information to be presented either on the face of the statement or in the notes (GRAP 1)
• Borrowing Costs Benchmark Treatment (GRAP 5)
• Revenue from Exchange Transactions (GRAP 9)
• Revenue from Non-Exchange Transactions (Taxes and Transfers) (GRAP 23)
• Construction Contracts (GRAP 11)
• Leases (GRAP 13)
• Investment Property (GRAP 16)
• Property, Plant and Equipment (GRAP 17)
• Intangible Assets (GRAP 31)
• Heritage Assets (GRAP 103)
• Agriculture (GRAP 27)
• Living and Non-Living Resources (GRAP 110)
• Impairment of Assets (GRAP 21 and GRAP 26)
• Inventories (GRAP 12)
• Provisions, Contingent Liabilities and Contingent Assets (GRAP 19)
• Service Concession Arrangements: Grantor (GRAP 32)
• Employee Benefits (GRAP 25)
• Accounting by Principals and Agents (GRAP 109)
• Current/non-current distinction
• Investment Property (GRAP 16), including disclosure
• Intangible Assets (GRAP 31), including those with finite useful lives
• Capitalisation of Borrowing Costs (allowed alternative treatment) (GRAP 5)
• Financial Instruments (GRAP 104)
• Statutory Receivables (GRAP 108)
• Receivables and Payables from Non-Exchange Revenue Transactions (GRAP 23)
• General principles (GRAP 2)
• Presentation of a Cash Flow Statement (GRAP 2)
• Reporting Cash Flows from Operating, Investing, and Financing Activities (GRAP 2)
• Reporting Cash Flows on a Net Basis (GRAP 2)
• Foreign Currency Cash Flows (GRAP 2)
• Interests and Dividends (GRAP 2)
• Taxes on Surplus (GRAP 2)
• Acquisitions and Disposals of Controlled Entities and Other Operating Units (GRAP 2)
• Components of Cash and Cash Equivalents (GRAP 2)
• Other Disclosures (GRAP 2)
• General principles (GRAP 1)
• Information to be presented either on the face of the Statement of Changes in Net Assets or in the notes (GRAP 1)
• Events After the Reporting Date (GRAP 14)
• Segment Reporting (GRAP 18)
• Presentation of Budget Information (GRAP 24)
• Discontinued Operations (GRAP 100)
• Related standards now effective and previously missing from this course: GRAP 34 (Separate Financial Statements), GRAP 35 (Consolidated Financial Statements), GRAP 36 (Investments in Associates and Joint Ventures), GRAP 37 (Joint Arrangements), and GRAP 38 (Disclosure of Interests in Other Entities)

Learning approach

How you will learn

Our diverse instructional approaches ensure effective learning:

– Lectures & Presentations: Engage with expert-driven, stimulating content.– Course Material: Access well-crafted supporting resources.– Group Work: Collaborate on discussions and case studies for practical insights.– Workshops & Role-Play: Participate in immersive, scenario-based activities.– Practical Application: Focus on applying theoretical knowledge in real situations.– Post-Training Support: Receive extensive support after training for skill implementation.

Discuss your requirements

Dates, duration & arrangements

Contact Ratomac to confirm dates, duration, delivery format, entry requirements and any applicable assessment or certification before booking.