GRAP Handbook 2019

Standards of Generally Recognised Accounting Practice


Available
    Edition: 3rd edition
  • Format: Soft Cover
  • ISBN: 9781485133971
  • Language(s): English
  • Extent: 1152 pages
  • Published:
  • Category: Financial Services, Public Finance

R995.00



The GRAP Handbook contains the consolidated Standards of Generally Recognised Accounting Practice (GRAP) and related material developed by the Accounting Standards Board (ASB). The ASB gives effect to the constitutional requirement that uniform standards should be developed to ensure the achievement of consistent and comparable financial information across all spheres of government. 

The adoption of Standards of GRAP by all reporting entities in the public sector in South Africa improves the quality and comparability of financial information reported and enables those charged with governance to hold entities to account for the resources entrusted to them by citizens, taxpayers and ratepayers. 

This handbook includes the Framework of Standards of GRAP, Standards of GRAP, Standards of GRAP and IGRAP approved but not yet effective, Interpretations of the Standards of GRAP, Guidelines and Directives.

For information about the effective dates of the GRAP Standards refer to Directive 5 and visit the ASB website: www.asb.co.za. 

What’s new in the 2019 issue? 

This edition of the handbook incorporates changes made to the handbook since the 2018 edition, including pronouncements issued by the ASB as at 1 April 2019. Click here for the full list of these changes. 

  • Part A: Conceptual framework for general purpose financial reporting
  • Part B: Standards of GRAP in effect
    • GRAP 1 Presentation of Financial Statements
    • GRAP 2 Cash Flow Statements
    • GRAP 3 Accounting Policies, Changes in Accounting Estimates and Errors
    • GRAP 4 The Effects of Changes in Foreign Exchange Rates
    • GRAP 5 Borrowing Costs
    • GRAP 6 Consolidated and Separate Financial Statements
    • GRAP 7 Investments in Associates
    • GRAP 8 Interests in Joint Ventures
    • GRAP 9 Revenue from Exchange Transactions
    • GRAP 10 Financial Reporting in Hyperinflationary Economies
    • GRAP 11 Construction Contracts
    • GRAP 12 Inventories
    • GRAP 13 Leases
    • GRAP 14 Events After the Reporting Date
    • GRAP 16 Investment Property
    • GRAP 17 Property, Plant and Equipment
    • GRAP 18 Segment Reporting
    • GRAP 19 Provisions, Contingent Liabilities and Contingent Assets
    • GRAP 20 Related Party Disclosures
    • GRAP 21 Impairment of Non-cash-generating Assets
    • GRAP 23 Revenue from Non-exchange Transactions (Taxes and Transfers)
    • GRAP 24 Presentation of Budget Information in Financial Statements
    • GRAP 25 Employee Benefits
    • GRAP 26 Impairment of Cash-generating Assets
    • GRAP 27 Agriculture
    • GRAP 31 Intangible Assets
    • GRAP 32 Service Concession Arrangements: Grantor
    • GRAP 100 Discontinued Operations
    • GRAP 103 Heritage Assets
    • GRAP 104 Financial Instruments
    • GRAP 105 Transfer of Functions Between Entities Under Common Control
    • GRAP 106 Transfer of Functions Between Entities Not Under Common Control
    • GRAP 107 Mergers
    • GRAP 108 Statutory Receivables
    • GRAP 109 Accounting by Principals and Agents
  • Part C: Standards of GRAP and IGRAP approved but not yet effective
    • GRAP 34 Separate Financial Statements
    • GRAP 35 Consolidated Financial Statements
    • GRAP 36 Investments in Associates and Joint Ventures
    • GRAP 37 Joint Arrangements 
    • GRAP 38 Disclosure of Interests in Other Entities
    • GRAP 110 Living and Non-living Resources
    • IGRAP 1 Applying the Probability Test on Initial Recognition of Revenue
    • IGRAP 20 Accounting for Adjustment to Revenue
  •  Part D: Interpretations of the Standards of GRAP
    • IGRAP 1 Applying the Probability Test on Initial Recognition of Revenue
    • IGRAP 2 Changes in Existing Decommissioning, Restoration and Similar Liabilities
    • IGRAP 3 Determining whether an Arrangement Contains a Lease
    • IGRAP 4 Rights to Interests Arising from Decommissioning, Restoration and Environmental Rehabilitation Funds
    • IGRAP 5 Applying the Restatement Approach under the Standard of GRAP on Financial Reporting in Hyperinflationary Economies
    • IGRAP 6 Loyalty Programmes
    • IGRAP 7 The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction
    • IGRAP 8 Agreements for the Construction of Assets from Exchange Transactions
    • IGRAP 9 Distributions of Non-cash Assets to Owners
    • IGRAP 10 Assets Received from Customers
    • IGRAP 11 Consolidation – Special Purpose Entities
    • IGRAP 12 Jointly Controlled Entities – Non-monetary Contributions by Venturers 
    • IGRAP 13 Operating Leases – Incentives
    • IGRAP 14 Evaluating the Substance of Transactions Involving the Legal Form of a Lease
    • IGRAP 15 Revenue – Barter Transactions Involving Advertising Services 
    • IGRAP 16 Intangible Assets – Website Costs
    • IGRAP 17 Service Concession Arrangements Where a Grantor Controls a Significant Residual Interest in an Asset
    • IGRAP 18 Recognition and Derecognition of Land
    • IGRAP 19 Liabilities to Pay Levies
  • Part E: Guidelines
    • GL 2 Guideline on Accounting for Arrangements Undertaken in terms of the National Housing Programme
  • Part F: Directives
    • Directive 1 Repeal of Existing Transitional Provisions in, and Consequential Amendments to, Standards of GRAP
    • Directive 2 Transitional Provisions for Public Entities, Trading Entities, Municipal Entities, Further Education and Training Colleges, and Constitutional Institutions 
    • Directive 3 Transitional Provisions for High Capacity Municipalities
    • Directive 4 Transitional Provisions for Medium and Low Capacity Municipalities and Trading Entities
    • Directive 5 Determining the GRAP Reporting Framework
    • Directive 6 Transitional Provisions for Revenue Administered by the South African Revenue Service (SARS)
    • Directive 7 The Application of Deemed Cost
    • Directive 8 Transitional Provisions for Parliament and Provincial Legislatures
    • Directive 9 The Application of the Standards of GRAP by Trading Entities
    • Directive 10 Application of the Standards of GRAP by Public Further Education and Training Colleges
    • Directive 11 Changes in Measurement Bases following the Initial Adoption of Standards of GRAP
    • Directive 12 The Selection of an Appropriate Reporting Framework by Public Entities
  • Part G: Appendices
    • Glossary of Defined Terms
    • Standard Setting Process
    • Asset Classification Decision Tree

  • Preparers, auditors and users of financial statements prepared under Generally Recognised Accounting Practice (GRAP)
  • Students 

This product does not have any reviews yet - be the first to write one.

The GRAP Handbook contains the consolidated Standards of Generally Recognised Accounting Practice (GRAP) and related material developed by the Accounting Standards Board (ASB). The ASB gives effect to the constitutional requirement that uniform standards should be developed to ensure the achievement of consistent and comparable financial information across all spheres of government. 

The adoption of Standards of GRAP by all reporting entities in the public sector in South Africa improves the quality and comparability of financial information reported and enables those charged with governance to hold entities to account for the resources entrusted to them by citizens, taxpayers and ratepayers. 

This handbook includes the Framework of Standards of GRAP, Standards of GRAP, Standards of GRAP and IGRAP approved but not yet effective, Interpretations of the Standards of GRAP, Guidelines and Directives.

For information about the effective dates of the GRAP Standards refer to Directive 5 and visit the ASB website: www.asb.co.za. 

What’s new in the 2019 issue? 

This edition of the handbook incorporates changes made to the handbook since the 2018 edition, including pronouncements issued by the ASB as at 1 April 2019. Click here for the full list of these changes. 

  • Part A: Conceptual framework for general purpose financial reporting
  • Part B: Standards of GRAP in effect
    • GRAP 1 Presentation of Financial Statements
    • GRAP 2 Cash Flow Statements
    • GRAP 3 Accounting Policies, Changes in Accounting Estimates and Errors
    • GRAP 4 The Effects of Changes in Foreign Exchange Rates
    • GRAP 5 Borrowing Costs
    • GRAP 6 Consolidated and Separate Financial Statements
    • GRAP 7 Investments in Associates
    • GRAP 8 Interests in Joint Ventures
    • GRAP 9 Revenue from Exchange Transactions
    • GRAP 10 Financial Reporting in Hyperinflationary Economies
    • GRAP 11 Construction Contracts
    • GRAP 12 Inventories
    • GRAP 13 Leases
    • GRAP 14 Events After the Reporting Date
    • GRAP 16 Investment Property
    • GRAP 17 Property, Plant and Equipment
    • GRAP 18 Segment Reporting
    • GRAP 19 Provisions, Contingent Liabilities and Contingent Assets
    • GRAP 20 Related Party Disclosures
    • GRAP 21 Impairment of Non-cash-generating Assets
    • GRAP 23 Revenue from Non-exchange Transactions (Taxes and Transfers)
    • GRAP 24 Presentation of Budget Information in Financial Statements
    • GRAP 25 Employee Benefits
    • GRAP 26 Impairment of Cash-generating Assets
    • GRAP 27 Agriculture
    • GRAP 31 Intangible Assets
    • GRAP 32 Service Concession Arrangements: Grantor
    • GRAP 100 Discontinued Operations
    • GRAP 103 Heritage Assets
    • GRAP 104 Financial Instruments
    • GRAP 105 Transfer of Functions Between Entities Under Common Control
    • GRAP 106 Transfer of Functions Between Entities Not Under Common Control
    • GRAP 107 Mergers
    • GRAP 108 Statutory Receivables
    • GRAP 109 Accounting by Principals and Agents
  • Part C: Standards of GRAP and IGRAP approved but not yet effective
    • GRAP 34 Separate Financial Statements
    • GRAP 35 Consolidated Financial Statements
    • GRAP 36 Investments in Associates and Joint Ventures
    • GRAP 37 Joint Arrangements 
    • GRAP 38 Disclosure of Interests in Other Entities
    • GRAP 110 Living and Non-living Resources
    • IGRAP 1 Applying the Probability Test on Initial Recognition of Revenue
    • IGRAP 20 Accounting for Adjustment to Revenue
  •  Part D: Interpretations of the Standards of GRAP
    • IGRAP 1 Applying the Probability Test on Initial Recognition of Revenue
    • IGRAP 2 Changes in Existing Decommissioning, Restoration and Similar Liabilities
    • IGRAP 3 Determining whether an Arrangement Contains a Lease
    • IGRAP 4 Rights to Interests Arising from Decommissioning, Restoration and Environmental Rehabilitation Funds
    • IGRAP 5 Applying the Restatement Approach under the Standard of GRAP on Financial Reporting in Hyperinflationary Economies
    • IGRAP 6 Loyalty Programmes
    • IGRAP 7 The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction
    • IGRAP 8 Agreements for the Construction of Assets from Exchange Transactions
    • IGRAP 9 Distributions of Non-cash Assets to Owners
    • IGRAP 10 Assets Received from Customers
    • IGRAP 11 Consolidation – Special Purpose Entities
    • IGRAP 12 Jointly Controlled Entities – Non-monetary Contributions by Venturers 
    • IGRAP 13 Operating Leases – Incentives
    • IGRAP 14 Evaluating the Substance of Transactions Involving the Legal Form of a Lease
    • IGRAP 15 Revenue – Barter Transactions Involving Advertising Services 
    • IGRAP 16 Intangible Assets – Website Costs
    • IGRAP 17 Service Concession Arrangements Where a Grantor Controls a Significant Residual Interest in an Asset
    • IGRAP 18 Recognition and Derecognition of Land
    • IGRAP 19 Liabilities to Pay Levies
  • Part E: Guidelines
    • GL 2 Guideline on Accounting for Arrangements Undertaken in terms of the National Housing Programme
  • Part F: Directives
    • Directive 1 Repeal of Existing Transitional Provisions in, and Consequential Amendments to, Standards of GRAP
    • Directive 2 Transitional Provisions for Public Entities, Trading Entities, Municipal Entities, Further Education and Training Colleges, and Constitutional Institutions 
    • Directive 3 Transitional Provisions for High Capacity Municipalities
    • Directive 4 Transitional Provisions for Medium and Low Capacity Municipalities and Trading Entities
    • Directive 5 Determining the GRAP Reporting Framework
    • Directive 6 Transitional Provisions for Revenue Administered by the South African Revenue Service (SARS)
    • Directive 7 The Application of Deemed Cost
    • Directive 8 Transitional Provisions for Parliament and Provincial Legislatures
    • Directive 9 The Application of the Standards of GRAP by Trading Entities
    • Directive 10 Application of the Standards of GRAP by Public Further Education and Training Colleges
    • Directive 11 Changes in Measurement Bases following the Initial Adoption of Standards of GRAP
    • Directive 12 The Selection of an Appropriate Reporting Framework by Public Entities
  • Part G: Appendices
    • Glossary of Defined Terms
    • Standard Setting Process
    • Asset Classification Decision Tree

  • Preparers, auditors and users of financial statements prepared under Generally Recognised Accounting Practice (GRAP)
  • Students 

This product does not have any reviews yet - be the first to write one.