Public Schools are required to compile financial statements annually.
Three key decisions the compiler has to make:
- What reporting / accounting framework should we adopt, e.g. IFRS or SMEs or MEC Guidelines?
- Does the South African Schools Act restrict how certain transactions are treated?
- Who is allowed to compile the AFS of a public school?
Join us as we help you make informed decisions.
Break down the SA Schools Act requirements that affect the accounting transactions that end up in the financial statements
Provide guidance on available financial reporting frameworks when preparing financial statements
Work through the MEC Guidelines accounting framework developed by SAICA and the Department of Basic Education
Clarify who is permitted to compile AFS
