Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
This course will provide a broad review of financial statement presentation and note disclosure requirements under Part III- Accounting Standards for Not-for-Profit Organizations (ASNFPO) and relevant disclosures from Part II - Accounting Standards for Private Enterprises (ASPE). Participants will review a number of examples of disclosures and engage in activities to identify issues and improve disclosures. Different presentation methods (restricted fund vs. deferral method) and the impact on presentation will also be discussed.
This course will serve as a comprehensive review of the presentation and disclosure requirements faced by a not-for-profit organization when it applies ASNFPO and relevant ASPE standards. Participants will review a variety of examples and learn to apply the disclosure requirements for a number of different areas that NFPOs regularly deal with.
Topics Include:
- Concepts that drive the presentation and disclosure requirements
- Statement of operations presentation and related disclosures
- Statement of financial position presentation and related disclosures, e.g. financial instruments
- Statement of changes in net assets
- Statement of cash flow presentation and related disclosures
- Choosing a presentation methodology and understanding the different methods for accounting for contributions
- Review of sample financial statements using real world examples
- Disclosure of significant accounting policies
- Financial instruments
- Inventories
- Controlled and related entities
- Tangible and intangible capital assets and collections held by a not-for-profit organization
- Employee future benefits
- Other revenues and contributions
- Allocated expenses and interfund transfers
- Related party transactions
- COVID-19 considerations and Handbook standards to consider
- Ongoing projects and potential impact of changes
NOTE: This course description has been revised and reflects updates for 2024. If you have any questions, please contact pdevents@cpaontario.ca.
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Key Takeaways
By the end of this course, participants will be able to:
- Identify and analyze accounting issues specific to NPOs and determine the appropriate disclosures required.
- Identify where policy choice exists and determine the appropriate level of disclosure required to communicate those choices to the user of the financial statements.
- Interpret facts and scenarios to determine the appropriate presentation and disclosure.
Who Will Benefit
Professionals at all levels involved in the preparation and review of NFPO financial statements. Government-controlled NFPOs must follow the Public Sector Accounting Handbook, which will not be addressed in this course.
Prerequisite(s)
Participants should have an understanding of the CPA Handbook – Accounting Part II & III, with respect to measurement issues, or completion of the course ASNFPO: Review of the Standards.
How to Access the Course
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To access the course on your computer please visit our BlackBoard site, and log-in using the same login and password used for the Registration Portal.
Please allow up to 15 minutes after registration for the course to appear on your BlackBoard page.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.