This course addresses the financial statement disclosure and presentation requirements under ASPE.  Compliance with ASPE presentation and disclosure requirements requires the use of professional judgement.  The solution to meeting the presentation and disclosure requirements is to not simply have a library of “boiler plate” notes to the financial statements but to develop a process that efficiently uses those examples.  The goal is to create financial statements that are in compliance with the standards but also useful and understandable to the users of the financial statements.  This course provides many examples that can aid in the efficiency of the preparation of financial statements, but also recognizes that each business and the resultant financial statements are different.

This course will review common presentation and disclosure requirements with a focus on those areas where there is judgment, complexity or prior indications of difficulty.  The course will address the issues by starting with a general review of the requirements of ASPE and address the standards that may address many elements, such as the disclosure related to financial instruments and related parties, before looking at specific financial statement elements.  The course will address all topics using examples, illustrations and other resources.  The examples will provide a valuable resource to help in the preparation and/or review of financial statements prepared in accordance with ASPE.  

The course will provide an opportunity to practice the preparation and review of notes to the financial statements using activities.

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

• Identify the presentation and classification requirements of ASPE for the balance sheet, income statement, statement of changes in equity and statement of cash flows
• Prepare and/or review common note disclosures in accordance with ASPE

Content
Topics include:

• A review of the disclosure and presentation requirements of ASPE using the Handbook and checklists
• A review of the general principles and concepts for the preparation of useful financial statements, including disclosures applying professional judgement.
• A summary of the accounting policy choices included in ASPE that will impact the presentation and disclosure requirements
• A summary of ASPE standards that have implications on various elements of the financial statements, including financial instruments and related party disclosures
• A review of the presentation requirements and related disclosures for specific elements for the 
  o Balance Sheet
  o Income Statement
  o Statement of Changes in Equity, including a discussion on ROMRS
  o Statement of Cash Flows
• A review of other disclosures that may not arise from a financial statement element, such as subsequent events, going concern, contingencies, etc.
• Specific Topics, for example, presentation and disclosure requirements for first time adoption of ASPE

The course will address all requirements of ASPE but will focus on those presentation and disclosure issues that are likely to be common to many financials statements.

Prerequisites – Knowledge, Experience or Courses
The course focuses on the presentation and disclosure, and does not address the recognition and measurement of transactions, events or circumstances under ASPE in detail.  Therefore, a strong understanding of the ASPE recognition and measurement requirements is expected.  

Applicable For
This course is designed for preparers of financial statements under ASPE, and for practitioners who serve private enterprises.

Seminar Instructor: Kim Varey

What to Expect

• Two emails will be sent from CPA Manitoba following your registration: one to confirm your order and one including information on how to access the course through your Learning Hub. 
• Once sent, these emails can also be found in the Communication tab of your CPA Manitoba Member Portal.
• Course materials, links and credentials can be found in your Learning Hub no less than two business days prior to the seminar. 
• This is a Live Virtual seminar where class size has been limited to allow for an interactive learning environment. 
• This seminar will not be recorded. 
• Live webinars have varying levels of expected interaction, with many requiring webcam and microphone capabilities. If you have concerns about the interaction required for this course, please email [email protected]. 

CPA Manitoba PD Terms and Conditions