Learning Objectives
By the end of this course, participants should be able to explain:
• the requirements of Section 3856, Financial Instruments for both private enterprises and not-for-profit organizations including recognition, measurement, presentation, derecognition and disclosure.
• the alternative measurement methods for financial instruments and implications on the financial statements.
• the accounting for impairment and forgiveness of financial instruments.
• the initial measurement and presentation for related party transactions.
• the initial measurement, subsequent measurement and presentation for shares issued in a tax planning arrangement.
• the basic concepts of hedge accounting.
Topics include:
• Overview
• Recognition
• Initial measurement - Arms-length transactions, Finance fees and transaction costs
• Subsequent measurement - Measurement - Amortized cost, Fair value
• Impairment
• Forgiveness
• Derecognition
• Disclosures
• Complex Issues - Related party transactions, Shares issued in a tax planning arrangement, Transfer of receivables
• Derivatives and hedge accounting
• Presentation - Investments, Substance over form, Debt, equity or hybrid financial instrument, Compound financial instruments, Offsetting
• Transition
• Current developments
Prerequisites: Knowledge, Experience or Courses:
Participants would benefit from pre-reading Section 3856, Financial Instruments.
Applicable For:
Professionals responsible for the accounting, presentation and disclosure of financial instruments using Section 3856 for private enterprises and not-for-profit organizations. In addition, CPAs wanted to understand more about accounting for financial instruments in ASPE.
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, 2024 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.
CPA Manitoba PD Terms and Conditions