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ASPE Disclosure of accounting policies

  • ACCT/BK
  • CPA (CA)
  • CPA (US)
  • CFIRS
  • CWS

Published: April, 2022

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Content of disclosures
    9 mins
  • First time adoption accounting policy disclosures
    16 mins
  • Cash and cash equivalents accounting policy disclosures
    30 mins
  • Consolidated financial statements accounting policy disclosures
    47 mins
  • Cost model accounting policy disclosures
    64 mins
  • Impairment accounting policy disclosures
    86 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 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 application of ASPE (Accounting Standards for Private Enterprises) in preparing general-purpose financial statements for private enterprises and many of the required disclosures.

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 disclosing accounting policies.

This CPD webinar is a review that will help preparers of financial statements and accounting practitioners in exercising their professional judgment as to the disclosures of accounting policies in many critical areas.

In this CPD webinar speaker, Michel Morley outlines an easy-to-understand step-by-step procedure for applying and disclosing accounting policies and examines the many factors that private companies need to carefully consider when implementing ASPE.

Major Topics Covered in this CPD webinar for Canadian CPAs:

  • Basic concepts, scope, and applicability of ASPE. 
  • Planning the approach: accounting policies and decision criteria.
  • Sizing up the impacts of accounting policy disclosures: questions you need to ask.
  • Specific rules and provisions for ASPE accounting policy disclosures.
  • Limited exceptions permitted in ASPE.
  • Disclosure and presentation requirements.

Learning Objectives

  • To discuss the latest information regarding accounting policy disclosure in ASPE.
  • To analyze how to apply ASPE accounting policy disclosure rules and exceptions.
  • To review the accounting policy requirements for recognition, measurement, and presentation under ASPE.
  • To discuss the unique disclosure and presentation requirements for accounting policy disclosures of ASPE.

Recommended For

This CPD webinar is recommended for CPAs, Accounting, and auditing practitioners at all levels who want to understand about disclosures of accounting policies of the Accounting Standards for Private Enterprises (ASPE).

Who Should Attend?

  • Accounting Firm
  • Accounting Managers
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA in Business
  • Staff of Accounting Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 2 General Credit for Accountant/Bookkeeper (ACCT./BK)
  • 2 CPD Credit of Accounting for Chartered Professional Accountant (CPA Canada)
  • 2 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
  • 2 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 2 CE Credit for Certified Wealth Strategist (CWS)

Additional details

  • Course Level :
    Basic
  • Credits :
    2
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

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MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

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.
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  • 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.
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