Inventories held by Canadian not-for-profit organizations

  • Accountant
  • CPA (CA)
  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Course Description

This CPD webinar is for Canadian CPAs only!

Financial statements for not-for-profit organizations are designed to meet the common information needs of external users of financial information about a not-for-profit organization. This presentation describes what is this standard, its sources, and what specific rules are used for accounting for Inventories.

This CPD course describes the concepts underlying the application of Accounting Standards for Not-for-profit Organizations in preparing general-purpose financial statements for not-for-profit organizations including Inventories. It is a resource that will help preparers of financial statements and accounting practitioners in exercising their professional judgment as to the implementation of accounting for Inventories held by not-for-profit organizations.

This online education webinar outlines an easy-to-understand step-by-step procedure for accounting for Inventories and examines the many factors that not-for-profit organizations need to carefully consider when implementing this standard.

Major Topics Covered in this CPD Accounting Online Course:

  • Basic concepts, scope, and applicability of accounting for not-for-profit organizations. 
  • Planning the approach: Inventory accounting policies and decision criteria.
  • Sizing up the impacts of implementation: questions you need to ask.
  • Specific rules and transitional provisions for accounting for Inventories.
  • Recognition criteria.
  • Disclosure and presentation requirements.
  • Notes to financial statements.

Learning Objectives

  • To discuss the latest information regarding accounting for Inventories held by not-for-profit organizations.
  • To analyze the overall guidance on Inventory accounting and reporting for not-for-profit organizations.
  • To inspect how to apply inventory accounting rules and exceptions.
  • To review the recognition, measurement, and presentation constraints.
  • To explain disclosure and presentation requirements.
  • To discuss how to write the appropriate Notes.
  • To analyze the unique disclosure and presentation requirements of accounting for Inventories held by not-for-profit organizations.

Recommended For

  • This online CPD course is recommended for Canadian CPAs and other accounting professionals who want to understand the application of Accounting Standards for Not-for-profit Organizations.

Who Should Attend?

  • Accountant
  • Accounting and audit managers/practitioners
  • Certified Public Accountant (CPA)
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Non Profit Pros
  • Nonprofit Professionals
  • Staff of Accounting Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 2 CPD Credit of Accounting for Chartered Professional Accountant (CPA Canada)
  • 2 General Credit for Accountant/Bookeeper

Additional details

  • Course Level :
    Basic
  • Credits :
    2
  • Instructional Method :
    Group Internet Based
  • Pre-requisites :
    None
  • Advance Preparation :
    None

Presenter

About Presenter

Michel Morley

Founder, Mike Morley

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.

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
  • Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.
Inventories held by Canadian not-for-profit organizations

PREMIUM

2 Credits

Subject Area

Accounting

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