ASPE Consolidated Financial Statements

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Course Description
Course Qualification
Presenter
FAQ

Course Description

Overview

Purpose and scope

5 mins
Preparation of colsolidated financial statements

14 mins
Normal operating transactions subsequent to an acquisition

24 mins
Intercompany balances and transactions

35 mins
Presentation of consolidated financial statements

50 mins
Related-party transaction not in the normal course of operations

64 mins

Course Description

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 International Financial Reporting Standards (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 course describes the concepts underlying the application of ASPE (Accounting Standards for Private Enterprises) in preparing general-purpose financial statements for private enterprises and many of the required disclosures.

Consolidated financial statements for private enterprises (ASPE) are designed to meet the common information needs of external users of financial information about a private entity. This CPD course describes what specific rules are used for preparing consolidated financial statements.

This CPD webinar is a resource that will help preparers of financial statements and accounting practitioners in exercising their professional judgment as to the preparation of the consolidated financial statements under ASPE.

In this CPD webinar speaker, Michel Morley outlines an easy-to-understand step-by-step procedure for putting together the consolidated financial statement and examines the many factors that private companies need to carefully consider when implementing ASPE.

Major Topics Covered in this CPD Accounting Webinar:

Basic concepts, scope, and applicability of ASPE consolidated financial statements rules.
Planning the approach: financial statement consolidation and decision criteria.
Sizing up the impacts of consolidated financial statement questions you need to ask.
Specific rules and provisions for ASPE consolidated financial statement disclosures.
Limited exceptions permitted in ASPE.
Disclosure and presentation requirements.

Learning Objectives

To analyze the latest information regarding consolidated financial statements in ASPE.
To review the consolidated financial statement requirements for recognition under ASPE.
To review the consolidated financial statement requirements for measurement under ASPE.
To review the consolidated financial statement requirements for presentation under ASPE.
To inspect exceptions permitted in ASPE.
To discuss the unique disclosure and presentation requirements for the consolidated financial statement disclosures of ASPE.

Recommended For

This CPD webinar is recommended for CPAs, Accounting, and auditing practitioners at all levels who want to get better insights for preparing consolidated financial statements with adherence to Accounting Standards for Private Enterprises (ASPE).

Course Qualification

Webinar Qualifies For

2 CPD Credit of Accounting for Chartered Professional Accountant (CPA Canada)
2 CPE Credit of Financial Accounting for Certified Internal Auditors (CIA)
2 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
2 CPE Credit for Internal Audit Practitioner (IAP)
2 General Credit for Accountant/Bookeeper
2 CPE Credit of Financial Reporting for Certified Management Accountants (CMA)
2 PL Credit for Certificate In Investment Performance Measurement (CIPM)
2 CPE Credit of Accounting for Certified Fraud Examiner (CFE)
2 PL Credit for Chartered Financial Analyst (CFA)

Additional details

Course Level :

Basic
Credits :

2
Instructional Method :

QAS Self Study
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

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