Ducharme Article - impact of revised GRAP 5

A revised version of GRAP 5 Borrowing Costs was approved and issued by the Accounting Standards Board, effective for annual financial statements covering periods beginning on or after 1 April 2014. In terms of this revised version, a new benchmark treatment is prescribed (GRAP 5.07) as to recognise borrowing costs as an expense in the period it’s incurred, regardless of how the borrowings are applied.Ducharme has issued an article on the impact of the changes to GRAP 5 and the practical implementation in the 2014/15 AFS accounting period. To view the GRAP 5 article, please follow this link:http://www.ducharmeconsulting.co.za/sites/default/files/Ducharme%20GRAP%...