OBJECTIVE:
A detailed review and analysis of the new ASPE agriculture standard (3410) dealing specifically with agricultural inventories and productive biological assets.  The course will present a number of factors for consideration in making a policy choice on to how to recognize and measure agricultural inventories and will discuss the implications of each policy choice.  A detailed review of the standard as it applies to productive biological assets will be presented and the seminar will enable participants to apply the presentation and disclosure requirements of the new ASPE agriculture standard. Practical examples and guidance regarding the recognition and measurement of these agricultural assets are provided.

WHO WILL BENEFIT:
Practitioners dealing with private enterprise agricultural producers, financial professionals involved with private enterprise agricultural producers, and practitioners and financial professionals wishing to enhance their understanding of the relevancy and application of the new ASPE standard relating to Agriculture. 

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

• identify the scope and purpose of this new section,
• recognize the multi-layered accounting policy choices for dealing with the recognition and measurement of agricultural inventories and understand the considerations in making these choices,
• identify the new standard requirements for recognition and measurement of productive biological assets and how to deal with them if and when they become impaired or non-productive,
• apply the transitional rules associated with the initial adoption of this new standard, and
• comply with the presentation and disclosure requirements of both agricultural inventories and productive biological asset.

CONTENT:

•  Purpose and scope of the new ASPE agriculture standard.
• Measurement of agriculture inventories including the description and explanation of the associated policy choices of the Cost model and the Net Realizable Value model concerning measurement of such inventories.
• Measurement of productive biological assets, including when it is appropriate to amortize such assets and/or recognize the impairment of them.
• Detailed presentation of the presentation and disclosure requirements of these unique assets.
• Presentation of the effective date and the transitional requirements of the new ASPE agriculture

PREREQUISITES:
Participants should be familiar with the existing accounting standards as presented in other ASPE handbook sections including:

• Financial Statement Concepts, section 1000
• Accounting Changes, section 1506
• Inventories, section 3031
• Asset Retirement Obligations, section 3110

WHAT TO EXPECT:

• You will receive an email from CPA Saskatchewan following your registration to confirm your order and information on how to access the course through PD Connect.
• Once sent, these emails can also be found in the Communication tab of your CPA Saskatchewan Member Portal.
• Watch a qualified CPA instructor and receive a copy of the same course material that is provided to attendees of the in-person session.
• This course is designed for participants to view while following along with the course material provided.
• This self-study course allows you to save your progress and continue later. A certificate of completion will be provided upon successful completion of the course and quiz. 
• Access to all on-demand learning courses will be for 180 days from the date of purchase.