If you do not inform us that you are unable to attend the webinar training session, and we are unable to reach you to confirm whether you would like access to the edited recording, your booking will automatically be credited after one week. You will then need to rebook the lesson through our Akhanani website.
Mr Tristan White
6 Jul '23
09h00 - 12h00
3
Attending the course and successfully completing the post-assessment, will grant you
3 hour/s verifiable CPD, recognised by the various
professional bodies (SAICA, SAIBA, SAIT, SAIPA , ACCA, IACSA & IRBA). Please note that the
CPD certificate will only be issued once the post-assessment has been completed.
Web Based (Online)
Tristan White
0118861395
gillian@probetatraining.co.za
Revenue is dealt with in two separate standards in the GRAP suite of standards. The reason for this is that revenue is largely generated in two different ways:
a) By one entity providing a good, service or right of use of an asset and in return, receiving an equivalent amount of proceeds (an exchange transaction); or
b) By one entity providing value (either a monetary resource or not) to another entity and not receiving an equivalent value in return (a non-exchange transaction)
GRAP 9 deals with revenue from exchange transactions which is how we traditionally think about revenue from sale of goods and rendering of services.
GRAP 23 deals with revenue from non-exchange transactions, which is relevant for when grants / donations, services-in-kind (free or cheap services), taxes or debt forgiveness are provided, amongst other things.
We will look to clearly establish the theoretical requirements and use examples where possible to understand how to apply recognition criteria, do measurement calculations and account for the debits and credits that embody revenue transactions.
GRAP 9: Revenue from Exchange Transactions
• Definitions and Measurement
• Identification of the Transaction and Recognition:
o Sale of Goods
o Rendering of Services
o Passive Income
• Disclosure requirements
GRAP 23: Revenue from Non-exchange Transactions
• Definitions
• Recognition
• Measurement
• Disclosure requirements
