OBJECTIVE:
The seminar will provide an information update on recent revisions to the CPA Canada Handbook –Part III, Accounting Standards for Not-for-Profit Organizations (ASNFPO). In addition, revisions will be discussed to Part II, Accounting Standards for Private Enterprises (ASPE) that are applicable to 
NFPOs.

Participants will first be provided with an overview of changes to ASNFPO, followed by discussion of major projects and impact on NFPOs. Then the revisions and projects in ASPE are discussed that are applicable to NFPOs. 

Participants will be able to utilize this information on proposed changes to the standards to provide guidance to NFPOs and board members. 

WHO WILL BENEFIT:
Professionals who are involved in the preparation and analysis of financial statements for NFPO’s and practitioners who provide assurance on these financial statements using ASNFPO and CPA’s who volunteer on Boards for NFPOs.

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

• Explain implications of new standard on Combinations – Initial Measurement and Related Disclosures and projects on Contributions –Revenue Recognition and Related Matters, Cloud Computing and Financial Statement Concepts 
• Summarize future developments in ASNFPO.
• Review matters discussed by Not-For-Profit Advisory Committees
• Explain amendments to ASPE rent concessions due to Covid-19 and annual improvements that impact NFPOs
• Identify impact of Covid-10 on accounting for NFPOs
• List relevant publications (with links).

CONTENT:

•  Accounting Standard Improvements to ASNFPO’s Standard
• Combinations – Initial Measurement and Related Disclosures Projects
• Contributions Revenue Recognition and Related Matters
• Cloud Computing
• Financial Statement Concepts
• Matters NFPO Committee
• Impact of Covid-19 on accounting for NFPOs

PREREQUISITES:
Participants should be familiar with ASNFPO.

COURSE LEADER: BRIDGET NOONAN, CPA, CA