South Africa Accounting Framework

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  • Topic: Highways in Croatia, Business, A3
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REPORTING FRAMEWORKS AT A GLANCE – FINANCIAL YEARS ENDED 31 MARCH OR 30 JUNE 2012 Entity Reporting framework Appendix in Directive 5 Standards of GRAP IPSASs Directive 5 IFRSs Formulating an accounting policy using Standards approved, not yet effective Transitional arrangements Transitional provisions

National and provincial departments

Modified cash basis of accounting Statements of GAAP Standards of GRAP E Paragraph A1 – A42 Paragraph A5 Paragraph A6 Must formulate an accounting policy in the following areas using:      GRAP 21, 26 or IPSAS 21 and IAS 36 or combination GRAP 23 GRAP 25 or IAS 19 GRAP 104 or IAS 32, 39 and IFRS 7 IFRS 3 or GRAP 106, and GRAP 105 and 107 Directive 7 Directive 2

Trading entities1 National and provincial public entities (schedule 3A and 3C) Constitutional Institutions (schedule 1)

Standards of GRAP

E

Paragraph A1 – A4

Paragraph A5

Paragraph A6

Directive 7

Directive 2

Voluntary policy: GRAP 103 High capacity municipalities Medium capacity municipalities Low capacity municipalities Standards of GRAP Standards of GRAP Standards of GRAP E E E Paragraph A1 – A4 Paragraph A1 – A4 Paragraph A1 – A4 Paragraph A5 Paragraph A5 Paragraph A5 Paragraph A6 Paragraph A6 Paragraph A6 Must formulate an accounting policy in the following areas using:  GRAP 21, 26 or IPSAS 21 and IAS 36 or combination Directive 7 Directive 7 Directive 7 Directive 3 Directive 4 Directive 4

1

From 1 April 2013, trading entities are required to apply Standards of GRAP. Earlier application is permitted for earlier reporting periods. Paragraph references to Directive 5

2

This document has been prepared by the Secretariat of the ASB and has not been issued by the Board.

Updated 24 January 2012

Entity

Reporting framework Appendix in Directive 5 Standards of GRAP IPSASs

Directive 5 IFRSs Formulating an accounting policy using Standards approved, not yet effective    GRAP 25 or IAS 19 GRAP 104 or IAS 32, 39 and...
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