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GRAP FOR DEPARTMENTS

GRAP FOR DEPARTMENTS. MCS, AMD and Specimen Updates. Presenter: Technical Support Services | March 2017. Overview. Background Key Changes in MCS, AMD and Specimen AFS Annual Report Guide F uture interactions. Background.

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GRAP FOR DEPARTMENTS

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  1. GRAP FOR DEPARTMENTS MCS, AMD and Specimen Updates Presenter: Technical Support Services | March 2017

  2. Overview • Background • Key Changes in MCS, AMD and Specimen AFS • Annual Report Guide • Future interactions

  3. Background • Departments' post-audit comments – Due date for comments 30 September 2016 • Draft updates to MCS, AMD and Specimen AFS published in October 2016 • Comment period ended in November 2016 • Final Publication of MCS, AMD and Specimen AFS in December 2016 • A comments register is maintained and updated with responses. Although the comment period has lapsed NT continued to accommodate late comments. Once updates are finalised, it will be availed to departments and the AGSA.

  4. The SCOA and Systems AMD: SCOA and BAS Re-implementation Observations: • Delayed processing times due to financial system overload (BAS) • BAS had numerous accounts that stayed unused for extended periods • Incorrect allocations = incorrect reporting in the AFS and other key documents used for finance decisions

  5. The SCOA and Systems continued AMD: SCOA and BAS Re-implementation • As in the past, departments are really encouraged to START with the Infrastructure Segment when capturing a transaction. This reduces the number of items to select from thus drastically reducing incorrect allocations. • Selective distribution of items to relevant departments; (eg NT does not use the item “Assets for distribution” and will not have the item, whereas DBE uses this item and will have access to it) • National Infrastructure Projects standardised in the Project segment = the tabled and approved ENE Infrastructure project list. This improves accuracy and completeness of reporting. • SCOA Committee has been conducting roadshows to bring awareness about the updates - Key audience = System Controllers • For additional details on SCOA, please visit website: http://scoa.treasury.gov.za/or send a concise email to scoa@treasury.gov.za

  6. Financial Statement Presentation AMD and Specimen: Note 49 and Annexure 1A

  7. Revenue MCS: Aid Assistance

  8. Expenditure AMD: GEHS

  9. Expenditure continued AMD: Contractors

  10. Expenditure continued AMD: Terminology

  11. Expenditure continued AMD: Goods and Services versus Transfers and Subsidies New development: Public Finance has drafted a guide on Transfers that also provides guidance on transfers to NPO. OAG is commenting on this guide.

  12. Expenditure continued AMD: Unspent portion of funds transferred

  13. General Departmental Assets and Liabilities MCS: Transfers and subsidies due and payable

  14. General Departmental Assets and Liabilities continued AMD: Distinction between Prepayments and Advances

  15. Capital Assets AMD: CD’s as Intangible Assets – Page 12, Para 5.2.2

  16. Capital Assets continued AMD: Use of expert – Page 21, Para 6.6

  17. Capital Assets continued AMD: Capital WIP Example

  18. Inventory AMD: Inventory

  19. Inventory continued AMD: Correction

  20. Provisions and Contingents AMD: “Formally agreed with the supplier”

  21. Provisions and Contingents continued AMD: Routine Commitments

  22. Specimen AFS Accounting policies: Accrued departmental revenue

  23. Specimen AFS Accounting policies: Accrued expenditure payable

  24. Specimen AFS Accounting policies: Commitments

  25. Specimen AFS Accounting policies: Related party transactions

  26. Specimen AFS Accounting policies: Employee benefits

  27. Specimen AFS Notes: Transfers and subsidies

  28. Specimen AFS Notes: Prepayments and advances

  29. Specimen AFS Notes: Prior period errors

  30. Specimen AFS Annexures: Anx 1I Statement of aid assistance received

  31. Specimen AFS Annexures: Anx 7 Movement in capital work in progress

  32. Annual report guide • Part A: General Information

  33. Annual report guide • Part B: Performance Information

  34. Annual report guide • Part B: Performance Information

  35. Annual report guide • Part D: Human Resource Management

  36. Annual report guide • Part D: Human Resource Management

  37. Future interactions • TSS will prepare FAQs to accommodate pervasive 2016/17 issues emanating from comments received recently. • ASR Client Support Manager will inform National Departments and Provincial Treasuries (PAG’s) about future comment periods. • Submit comments to ASR Client Support Manager on or before the due date (late comments affect planning and timeous implementation) • ASR will address year-end submission deadlines

  38. Thank you

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