Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
This course provides an in-depth review of the accounting for tangible and intangible assets on the Balance Sheet.
This course provides participants with an in-depth review of the accounting for tangible and intangible assets on the Balance Sheet. The accounting for initial and subsequent recognition, presentation and disclosure will be discussed for inventory (Section 3031), property, plant and equipment (Section 3061), intangible assets and goodwill (Section 3064). In addition, the accounting guideline for cloud computing will be discussed. The accounting for impairment is not discussed in this course.
Participants will have the opportunity to review a number of examples and exercises. After attending this course, participants will have reviewed the accounting for tangible and intangible assets on the Balance Sheet.
Topics Include:
- Introduction to tangible and intangible assets
- Overview of applicable standards for accounting of tangible and intangible assets
- Accounting for inventory
- Measurement of cost
- Measurement of net realizable value
- Recognition as expense
- Presentation and disclosure
- Accounting for property, plant and equipment
- Measurement of cost
- Amortization
- Presentation and disclosure
- Accounting for intangible assets and goodwill
- Definition intangible asset
- Initial recognition and measurement
- Subsequent recognition
- Goodwill
- Presentation and disclosure
- Cloud computing arrangements
- Relevant resources
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Key Takeaways
By the end of this course, participants will be able to:
- Explain the accounting for cost and NRV for inventory.
- Explain the accounting for initial and subsequent recognition for property, plant ad equipment.
- Explain the accounting for initial and subsequent recognition for intangible assets and goodwill.
- Identify the presentation and disclosure requirements for tangible and intangible assets.
- List relevant resources (with links).
Who Will Benefit
CPAs interested in understanding the accounting for tangible and intangible assets on the Balance Sheet including practitioners, financial analysts, and controllers responsible for accounting.
How to Access the Course
This is an online session. This course is available 24 hours a day, 7 days a week. Once registered, you can access the material at any time.
However, you will only have access to the course for 90 days after REGISTRATION.
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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.
Speaker(s)
Elizabeth J. Farrell, FCPA, FCA, is an Adjunct Professor at the Schulich School of Business. In recognition of her excellence in teaching she was selected as the winner of the Seymour Schulich Award for Teaching Excellence in 1999, 2003 and 2009 and nominated for the award in 2004, 2005, 2006, 2011 and 2015. She was selected as the winner of the John Peace Teaching Award in 2002 and 2012. Elizabeth served as assistant coordinator at CPA Ontario's School of Accountancy. She has taught executive development courses for the Schulich School of Business, professional development courses for CPA Ontario and firms. Elizabeth is a co-author of Intermediate Financial Accounting.