GRAP 13 Leases

Price:
R476.10 (VAT Incl.)
Level:
Accounting Professionals
Sub-level:
GRAP and Municipal Finance
Lecturer:
Nestene Botha
Duration:
120 Minutes
Additionals:
   CPD Assessment
   Certificate

Lesson Outline

The objective of GRAP 13 is to ensure that appropriate recognition criteria and measurement bases are applied to leases and that sufficient information is disclosed in the notes to the financial statements.

This module aims to provide participants with a thorough understanding of the requirements of GRAP 13, including the following areas:

  1. Identifying the type of lease or lease arrangements.
  2. The characteristics of finance leases.
  3. The appropriate accounting treatment for recognising and measuring finance and operating leases as well as how to deal with sale-and-leaseback arrangements.
  4. The disclosure requirements for finance and operating leases.

This session will cover the following:

  1. Definitions & Scope
  2. Classification of leases
  3. Leases and other contracts
  4. Operating lease incentives
  5. Leases in the financial statements of lessees
  6. Leases in the financial statements of lessors
  7. Sale and leaseback transactions
  8. Comparison to IAS 17