Overview
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Date of transition to ASPE
7 mins
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Exemptions from other standards
17 mins
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Employee future benefits
28 mins
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Derecognition of financial assets and financial liabilities
41 mins
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Consideration received
58 mins
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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.
Check out our ASPE Certification to gain deeper knowledge of Canadian Accounting Standards for Private Enterprise.
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
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