Since the issuance of ASPE standards, a series of best practices has emerged, highlighting reduced disclosure for private enterprises. These best practices have evolved to incorporate new standards. This seminar aims to provide participants with current knowledge and understanding about the financial statement disclosure and presentation requirements under ASPE. This 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. Participants gain crucial, real life experiences by working with examples of ASPE disclosure and presentation requirements while completing exercises and engaging in discussion.
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. This 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.
Topics Include:
• a brief review of GST/HST basics, including relevant GST/HST place of supply rules
• a discussion of issues related to grants, donations, and fundraising activities
• a recap of GST/HST exemptions and certain elections unique to public service bodies
• an explanation of GST/HST rebates, input tax credit entitlements, registration, and accounting
• examples of common pitfalls and errors
• a brief discussion of other exemptions applicable to NFPOs, including housing, health care, or education
Prerequisites:
Participants should possess a strong general understanding of the GST/HST system.
Applicable for
Although applicable to all accounting professionals, the session is focused on the needs of professionals involved in the accounting for non-profit organizations, including practitioners who provide advice to such organizations.
Learning Objectives
By the end of this course, participants should be able to:
• 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.
What to Expect
• An email will be sent from CPA Manitoba to the participant within two business days of registration. The email will include information on how to access the course along with the necessary login credentials.
• Once sent, the email will also be found in your Account Communication tab of the CPA Manitoba Member Portal.
• This course is designed for participants to view while following along with the course material provided.
• This self-study course allows the user to save their progress and return to continue later.
Registration is for this course is open until March 31, 2023 and should be completed by August 31, 2024, after this time, access to the course will no longer be available.
To receive a certificate, participants must complete a quiz at the end of the course. Unlimited quiz attempts are available until the passing grade of 70% or better is achieved. After this you will no longer have access to the quiz.