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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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.