OBJECTIVE:
Disclosure and presentation is critical to telling the true story of a firm’s profit and loss, financial position, and flows to users of financial statements. The seminar reviews the realities and best practices for disclosure and presentation requirements of CPA Handbook - Part II Accounting Standards for Private Enterprises (ASPE). 

The seminar will start with a basic private enterprise financial statement, showing the common presentation and disclosure requirements and will then build on those statements with additional disclosure and presentation matters. Each disclosure and presentation requirement of ASPE will be reviewed and examples will be provided. The full-day session reviews both basic and more advanced presentation and disclosure requirements, ranging from cash to cash flow; financial instruments to equity instruments; and known to contingent liabilities.

The seminar will be delivered primarily through discussion of examples with some exercises.

WHO WILL BENEFIT:
Practitioners who serve private enterprises and professionals who prepare financial statements for private enterprises.

LEARNING OUTCOMES:
By the end of this course, participants will be able to perform the following functions: 

• differentiate between the disclosure and presentation requirements within ASPE,
• identify the presentation and classification requirements for the balance sheet, income statement, statement of changes in equity and statement of cash flows,
• determine whether an asset or liability is required to be presented as current or long-term,
• determine what significant accounting policies require disclosure within the financial statements
• prepare note disclosures in accordance with Sections 1000 through Section 3870 and related Guidelines in Part II of the CPA Canada Handbook – Accounting.

CONTENT:
The seminar covers several areas of disclosure and presentation including:

• Disclosure requirements provided in Part II of the CPA Canada Handbook – Accounting,
• Application of professional judgment in developing sufficient disclosure,
• Identification of options and policy choices in presentation of financial statements; and
• Presentation and disclosure requirements in Sections 1000 through Section 3870 in the Guidelines in Part II of the CPA Canada Handbook – Accounting.

PREREQUISITES:
A good working knowledge of recognition and measurement standards because the concept is not covered in the course. 

COURSE LEADER: KIM VAREY, CPA, CA