This How to Read, Understand and Analyse GRAP Annual Financial Statements short course provides for an overview of requirements GRAP Standards (and discussing of key differences between Modified Cash Standard to GRAP at high-level), and the analysis of the Annual Financial Statements prepared on the GRAP standards.The course content and competencies covered will involve a high level overview of the GRAP standards for accounting as well as the individual line items as part of an GRAP compliant set of annual financial statements (AFS) and also an overview GRAP conversion and implementation challenges (theoretical definitions, recognition requirements, practical considerations, examples) pertaining to the grouping of the following standards: - Assets. - Liabilities. - Revenue. - Expenditure. - Funds and reserves.The objective of this course is to provide an overview and high-level discussions on the various GRAP standards as context and basis on which the further detailed training will follow. This overview will be: - The GRAP Accounting Framework and GRAP standards. - The approved and effective GRAP standards: recognition, measurement, disclosure requirements. - Developments in current GRAP standards. - Awareness of ASB Exposure Drafts. - Frequently asked GRAP questions on GRAP Implementation.