Model Financial Statements – Private Enterprises – Part II of the CPA Canada Handbook – Accounting
Auteur : Ordre des comptables professionnels agréés du Québec
Last update: June 2019
The Model Financial Statements for Private Enterprises – Part II of the CPA Canada Handbook – Accounting are intended to serve as a guide for accountants and other professionals involved in preparing financial statements. The 2018 edition of these financial statements takes account of the standards for private enterprises in Part II of the CPA Canada Handbook – Accounting issued in December 2009 as well as Handbook updates issued up to July 31, 2018. These model financial statements only take account of amendments applicable to periods beginning on or after January 1, 2018.
Update – June 2019
See the update for details.
This tool is presented in two sections. The first section provides an analysis of the accounting standards based on the financial statement structure. Each analysis highlights changes and provides a brief summary of the recognition and measurement requirements as well as the key presentation elements. The second section includes four separate sets of model financial statements as well as an entire section on additional examples of notes to the financial statements and other examples of presentation for certain specific situations. An index provides all the examples of the notes and presentation illustrated in the “Model Financial Statements” section, grouped together based on the sections in Part II of the CPA Canada Handbook – Accounting.
The model financial statements are accompanied by illustrative independent auditor’s reports and review engagement reports along with appropriate references to the presentation and disclosure requirements set out in Part II of the CPA Canada Handbook– Accounting.
The first model illustrates the consolidated financial statements of an entity that has been applying accounting standards for private enterprises for more than two fiscal years. The second model illustrates the non-consolidated financial statements of a management company. The last two models illustrate financial information to be presented in consolidated financial statements by first-time adopters of accounting standards for private enterprises (including the reconciliation of the opening balance sheets in accordance with Section 1500, First-Time Adoption, in Part II of the CPA Canada Handbook – Accounting). These two models respectively present comparative information as corresponding figures and the impact on financial statements and notes thereto when financial information is presented instead as comparative financial statements.
- Model A: Consolidated financial statements for entities that already apply ASPE
- Model B: Non-consolidated financial statements for entities that already apply ASPE
- Additional examples of notes
- Model C: Financial statements for first-time adopters of ASPE
- Model D: Details of comparative information on first-time adoption of ASPE
CPAs in public practice and CPAs in business.
Available in French
États financiers modèles – Entreprises à capital fermé – Partie II du Manuel de CPA Canada – Comptabilité