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ASPE Overview

  • Accountant
  • CPA (CA)
  • CFE
  • CIA
  • CMA
  • CFA
  • IAP
  • QIAL
  • CIPM

Published: March, 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

  • What is a publicly accountable enterprise?
    3 mins
  • Intention of financial statements
    13 mins
  • Qualitative characteristics
    24 mins
  • Representational faithfulness
    37 mins
  • Consistency of accounting policies
    68 mins
  • Stock-based compensation and other stock-based payments
    86 mins

Course Description

The Accounting Standards for Private Enterprises (ASPE) are accounting principles for small and medium-sized enterprises (SMEs) in Canada that publish financial statements for general-purpose use but do not have to report their financial results publicly because their shares are not traded on a public stock exchange.

This CPE webinar describes the concepts underlying the development and use of accounting principles in general purpose financial statements for private enterprises. Financial statements for 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 private enterprises reporting.

This CPE course will help preparers of 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 CPE Accounting Webinar:

  • Basic concepts under ASPE.
  • The necessary qualitative characteristics of ASPE financial statements.
  • Specific rules for first-time adoption of ASPE.
  • ASPE recognition criteria.
  • Importance of comparative information
  • Accounting for assets, liabilities, revenue, and expenses.
  • Disclosure requirements.
  • Notes to ASPE financial statements.

Learning Objectives

  • To discuss the overall ASPE guidance on accounting and reporting for private enterprises.
  • To analyze how to apply ASPE first-time adoption rules and exceptions.
  • To review the recognition, measurement, and presentation needs under ASPE.
  • To inspect the difference between ASPE and accounting for publicly accountable enterprises.
  • To discuss disclosure presentation requirements.

Recommended For

  • This accounting CPE is recommended for CPAs, Accountants, and Staff of Accounting Firms desiring to learn about Accounting Standards for Private Enterprises (ASPE).

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Bookkeepers & Accountants & Tax Preparers
  • Chartered Professional Accountant
  • Cloud Accountants
  • Entrepreneurial Accountant
  • Senior Accountant
  • Staff of Accounting Firm

Course Qualification

Webinar Qualifies For

  • 2 CPD Credit of Financial Reporting 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/Bookkeeper/Tax Professionals
  • 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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