ASPE & ASNFPO – Update 2018
This course will provide an information update on recent revisions to the CPA Canada Handbook – Part II – Accounting Standards for Private Enterprises (ASPE) and Part III – Accounting Standards for Not-for-Profit Organizations (ASNFPO).
Participants will first be provided with an overview of changes to ASPE and ASNFPO, followed by specific examples of the implementation, and new and revised recommendations. In addition, practical guidance will be provided on selected accounting matters identified by practice advisory and/or practice inspection.
By the end of this course, participants will be able to:
- explain how to apply specific high risk (more complex/imminent) ASPE proposed standards for retractable or mandatory redeemable shares in a taxplanning arrangement, accounting for related party financial instruments and agriculture;
- identify changes and improvements in relation to “hot topics” (practice inspection topics, practice advisory);
- explain how to apply ASNFPO proposed accounting standard improvements;
- summarize future developments in ASPE and ASNFPO;
- review matters discussed by Private Enterprise Advisory Committee and Not-for-Profit Advisory Committees;
- list relevant publications (with links).
- Exposure drafts
- Retractable or mandatorily redeemable shares issued in a tax planning arrangement
- Accounting for related party financial instruments and significant risk disclosures
- Agriculture project
- Consultation on priorities for Part II
- Narrow scope amendment financial instruments
- Matters Private Advisory Committee
- Practice inspection topics
- Accounting standard improvements to NFPO’s
- Contributions revenue recognition
- Reporting controlled and related entities
- Matters NFPO Committee
The course is best suited to professionals who are involved in the preparation and analysis of financial statements for small- and medium-sized entities, and practitioners who provide assurance on these financial statements.