MFMA

Preparation of GRAP-compliant Annual Financial Statements

We performed this process by first getting the basics right. We would be able to
produce accurate, complete and valid Trial Balance (TB) which would be the report
that would produce compliant AFS. Our firm uses CaseWare, GRAP Template, in
producing AFS which is more efficient and effective to produce AFS not susceptible
to casting errors.

Preparation of GRAP-compliant Asset Registers

The objective of GRAP 17 is to prescribe the accounting treatment for property,
plant and equipment so that the users of financial statements can discern information
about an Entity’s investment in its property, plant and equipment and the changes in
such investment. The principal issues in accounting for property, plant and
equipment are the recognition of the assets, the determination of their carrying
amounts and the depreciation charges and impairment losses to be recognised in
relation to them.” Accounting Standards Board – March 2012

STANDARDS OF GRAP (17 PPE)
The GRAP 17 accounting standard prescribe the principles for:
Our MFMA services include:

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