ASPE - Update

Overview: 

One of the many things lost in the excitement of a new year includes the reality of new accounting standards. The course is best suited to professionals who are involved in the preparation and analysis of financial statements for small and medium-sized entities, practitioners who provide assurance on these financial statements, and who want to ensure they are aware of recent changes in ASPE standards and other hot topic areas. It will also create awareness of potential future changes in the standards by covering projects that are being worked on, as well as areas that standard setters are discussing.

Course Content:

In this course, you will gain knowledge about the following topics:

• Amendments to Section 3041, Agriculture
• Detailed review of accounting standards for private enterprises
• Cash surrender value of insurance contracts
• Amendments to presentation of related party combinations  
• Subsequent measurement of goodwill and acquired intangible assets
• Status of AcSB projects (evaluating the preface, financial statement concepts)
• Common deficiencies in ASPE financial statements and other “hot topics” including practical examples that practitioners and financial statement preparers may encounter

Learning Objectives:

Upon completing this course, you should be able to:

• Apply and explain new ASPE standards with effective dates in 2025 and beyond
• Identify changes and improvements in relation to “common deficiencies”
• Locate relevant publications

Who Will Benefit:

Professionals who are involved in the preparation and analysis of financial statements for small and medium-sized entities, and practitioners who provide assurance on these financial statements.