GRAP 17 - PPE

CPD hours:  1

Imagine a bustling city with well-maintained roads, efficient public transport, and modern schools and hospitals. Behind the scenes, public service entities manage these assets to ensure they serve the community effectively. This is where GRAP 17 comes into play.

GRAP 17, or Generally Recognised Accounting Practice 17, is like the blueprint for managing Property, Plant, and Equipment (PPE) in South Africa's public sector. It ensures that these assets are accounted for consistently and transparently, providing a clear picture of their value and condition.

For example, a municipality can use GRAP 17 to accurately report the value of its infrastructure, helping to plan maintenance, budget for future projects, and secure funding. This transparency is crucial for public accountability, ensuring that taxpayers' money is used efficiently.

By standardising how PPE is recorded and reported, GRAP 17 supports better decision-making, resource allocation, and ultimately, the delivery of high-quality public services. It is not just about numbers; it is about building trust and ensuring that public assets are managed responsibly for the benefit of all.

What you will learn

By the end of this course, you will be able to:

• Explain the identification criteria for an item of PPE.
• Discuss the recognition criteria for an item of PPE.
• Discuss the initial and subsequent measurement of PPE.
• Explain when and how an item of PPE should be derecognised.
• Explain the presentation and disclosure applicable to PPE.

Important information

Please take note of the following important details regarding your course access and certification:

• Certificates will be issued on the date of successful completion of the assessment and will reflect that date.
• Course access is valid for 12 months, after which the course will close.
• No updates will be made to the course during the 12-month access period. If updates become available, they will be released in a new course available for purchase on our website.
• For the Altimax terms and conditions, please refer to our website.