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Accounting Standards – Private Enterprises (ASPE) – Generally accepted accounting principles 2 Credits

Jun 03, 2022, 03:00 PM ET

Accounting Standards – Private Enterprises (ASPE) – Generally accepted accounting principles 2 Credits

  • Rating

    4.3
  • Published on

    December, 1969
  • Subject Area

    Accounting

Learning mode

Live Webinar
  • Access the course at your convenience
  • Take the assessment test
  • Get your certificate
  • Attend the live interactive session
  • Answer the polling questions
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Jun 03, 2022, 03:00 PM ET

Learning Objective

  • To discuss the overall guidance on accounting and reporting for Canadian private enterprises.
  • To review the recognition, measurement, and presentation rules for Canadian private enterprises.
  • To analyze how estimates, errors, and adjustments are accounted for in the financial statements of Canadian private enterprises.
  • To inspect disclosure and presentation requirements.

Course Overview

This CPD course is specific for Canadian Audience only.

ASPE came into effect in Canada in 2011.

It is a change from the previous Canadian GAAP and is in many ways similar to IFRS. However, where IFRS was intended to be used in Canada by public companies, ASPE was intended as an alternative for private enterprises in Canada. Many of the standards in ASPE provide options for companies that are meant to be simpler to implement and more relevant and adaptable to the size of the business.

This CPD webinar describes the concepts underlying the development and use of generally accepted accounting principles in general purpose financial statements for private enterprises in Canada.

Financial statements for Canadian private enterprises are designed to meet the common information needs of external users of financial information about an entity.

In this CPE webinar speaker, Michel Morley describes what constitutes generally accepted accounting principles, and their sources, for Canadian private enterprises reporting.

This CPE course will help preparers of Canadian financial statements and accounting practitioners in exercising their professional judgment as to the application of generally accepted accounting principles and in establishing accounting policies in areas in which accounting principles are developing.

Major Topics Covered in this CPD Webinar:

  • Basic concepts under Canadian Generally Accepted Accounting Principles for private Canadian entities.
  • The necessary qualitative characteristics of Canadian private entity financial statements.
  • Recognition and measurement criteria for private Canadian entities.
  • Importance of comparative information.
  • Accounting for assets, liabilities, revenue, and expenses.
  • Disclosure requirements.
  • Presentation.

Podcast Credits

Short Video Credits

On Demand Credits

Live Credits

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Additional Information

Credits

2

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

Pre-requisites

None

Advance Preparation

None

About Instructor

Elevate Your Career with Michel Morley's CPE Courses at myCPE
Michel Morley

Founder, Mike Morley

  • 4.3
  • rating
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Mike Morley is a Certified Public Accountant and a recognized authority in the field of finance with more than 25 years experience in finance, including SOX and IFRS implementation.

An entertaining and informative speaker and trainer, Mike is the author of:

“IFRS Simplified” which provides a jump start for accountants and finance executives who want to quickly and easily get up to date on IFRS.

“Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.

“Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Ratings and Review

out of 5

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1,824 ratings

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TB

Tugba Bozdere, CPA in Canada

It was a nurturing information on ASPE

EQ

Erika Quaye, Accountant/Bookkeeper/Tax Professionals

Would be nice to see the final exam feedback. If it is available it is not easy to find.

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