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

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Course Description
Course Qualification
Presenter
FAQ

Course Description

Overview

Date of transition to ASPE

7 mins
Exemptions from other standards

17 mins
Employee future benefits

28 mins
Derecognition of financial assets and financial liabilities

41 mins
Consideration received

58 mins
Determination of whether an enterprise is an investment company

79 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 CPE 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 CPE Accounting 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.

Learning Objectives

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.

Recommended For

This CPE webinar is recommended for CPAs, Accounting, and auditing practitioners at all levels desiring to remain up to date on Canada - Accounting Standards for Private Enterprises (ASPE).

Who Should Attend?

Accountant
Accounting Firm
Accounting Managers
Bookkeepers & Accountants & Tax Preparers
CPA (Industry)
CPA - Large Firm
CPA - Mid Size Firm
CPA - Small Firm
Staff of Accounting Firm

Course Qualification

Webinar Qualifies For

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

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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