Course Description

This 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) where they 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.  

The seminar is best suited to professionals who are involved in the preparation and analysis of financial statements using ASNFPO, practitioners who provide assurance on these financial statements and CPA’s who volunteer on Boards for NFPOs.  

Learning Objectives

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

• Describe implications of Exposure Draft and Feedback Statement - Contributions –Revenue Recognition and Related Matters and Accounting Guideline Insurance Contracts With Cash Surrender Value

• Describe developments other projects Detailed Review of ASPE, Evaluating the Preface, Financial Statement Concepts, Reporting Controlled and Related Entities, Subsequent Measurement of Goodwill and Acquired Intangible Assets and Consultation Paper Scaling the Standards

• Summarize future developments in ASNFPO.

• Review matters discussed by Not-For-Profit Advisory Committees

• List relevant publications (with links).

Content

• ASNFPO
  • Exposure Draft and Feedback Statement
    • Contributions Revenue Recognition and Related Matters

• Accounting Guideline

• AcG-21 Insurance Contracts With Cash Surrender Value

• Projects
  • Evaluating the Preface

• Financial Statement Concepts

• Reporting Controlled and Related Entities

• Subsequent Measurement of Goodwill and Acquired Intangible Assets

• ASPE (where relevant NFPOs)
  • Amendment Standard
    • Section 3400 - Revenue-Upfront Non-refundable Fees or Payments

• Consultation Paper

• Scaling the Standards

• Projects

• Detailed Review of ASPE Standards

• Evaluating the Preface

• Financial Statement Concepts

• Subsequent Measurement of Goodwill and Acquired Intangible Assets

Prerequisites – Knowledge, Experience or Courses

Participants should be familiar with ASNFPO and ASPE.

Applicable For

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 . 

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.