The objective of GRAP 5 is to ensure that appropriate recognition criteria and measurement bases are applied to borrowing costs and that sufficient information is disclosed in the notes to the financial statements.
This module aims to provide participants with a thorough understanding of the requirements of GRAP 5, including the following areas:
- Identifying borrowing costs on qualifying assets.
- The appropriate accounting treatment for recognising, measuring and disclosing borrowing costs.
This session will cover the following:
● Definitions: Borrowing Costs & Qualifying Assets
● Borrowing Costs - Benchmark Treatment
● Borrowing Costs - Allowed Alternative Treatment
● Borrowing Costs - Disclosure Requirements & Practical Examples
Individuals who require a high level overview and awareness of the core GRAP accruals based standards including:
- finance and accounting managers of public sector entities that have adopted GRAP or are in the process of doing so
- accounting practitioners, consultants and external auditors, analysts of public sector entities
- accountants and finance staff of public sector entities and similar agencies (e.g. Municipalities) that have adopted GRAP or are in the process of doing so
- accountants and finance staff moving from private to public sector environments
- government officials and project managers responsible for GRAP transition
- operations managers of public entities needing an awareness of public sector financial reporting
- internal auditors of entities that have adopted GRAP or are in the process of doing so.
