GRAP Asset Accounting and Asset Management

The programme

Programme overview

There are various GRAP Asset Accounting standards that need to be considered when preparing GRAP-compliant Annual Financial Statements and Fixed Asset Registers. The purpose of this training is to provide participants with the skills to apply the various accounting standards in practice. The GRAP Asset Accounting and Asset Management training will include examples commonly found in local government and tailored case studies that illustrate the application of the various accounting standards.

Who should attend

Who is this programme for?

• Directors/Officers
• Financial Managers
• Asset Managers/Officers
• State Accountants
• Chief Financial Officers
• Managing Directors
• Line Managers
• Risk Managers
• Supply Chain Practitioners
• Procurement Officers
• Maintenance Personnel
• Treasury Clerks
• Fleet Management
• Facilities Management

Learning outcomes

What you will learn

• Have a good understanding of the asset-related GRAP standards
• Understand how the asset-related GRAP standards are implemented
• Understand what changes are required to the chart of accounts
• Understand the impact of assets on the budget
• Better understand what information is required in a fixed asset register
• Have a better understanding of how to maintain asset information
• Identify and correct the specific asset register weaknesses that most commonly trigger AGSA audit findings

Explore the programme

Detailed programme outline

Day 1: The Asset Life-Cycle and Asset-Related GRAP Standards

• Asset planning and budgeting
• Asset acquisition and creation
• Operation and maintenance of assets
• Disposal and replacement of assets
• Asset risk management
• GRAP 17: Property, Plant, and Equipment
• GRAP 31: Intangible Assets
• GRAP 21: Impairment of Non-Cash-Generating Assets
• GRAP 26: Impairment of Cash-Generating Assets
• GRAP 16: Investment Property
• GRAP 13: Leases
• GRAP 103: Heritage Assets
• GRAP 12: Inventories
• GRAP 3: Accounting Policies, Errors, and Estimates
• GRAP 1: Presentation of Financial Statements

Day 2: Practical Application

• Asset acquisition
• Asset valuation and value sustainability
• Asset maintenance
• Asset disposal
• What changes are required to the chart of accounts
• The impact of assets on the budget

Day 3: Building an Audit-Ready GRAP Asset Register

• What information is required in a fixed asset register
• How to maintain accurate, current asset information
• Lumped (‘globular’) asset records that obscure individual asset detail, and how to disaggregate them correctly
• Assets that cannot be physically verified: strengthening asset tagging, location tracking, and verification processes

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.