This course addresses challenges faced by preparers of ASPE financial statements and practitioners with respect to the recognition, measurement, presentation, and disclosure of revenue transactions under ASPE.

Revisions to ASPE 3400 were adopted effective for fiscal years beginning January 1, 2022. These changes addressed issues identified by preparers of ASPE financial statements, practitioners, and other stakeholders and other challenges in the accounting for revenue. This course offers a comprehensive review of the principles of revenue recognition under ASPE with illustrations and examples of common revenue arrangements, including the sale of goods and services in various industries.

Topics Include:

• Identifying units of account for a sales arrangement and combining sales arrangements.
• Multiple element arrangements.
• Percentage of completion vs. Completed contract, specifically in the construction industry.
• Upfront non-refundable fees, including a discussion on the basis of conclusion for why the treatment of these fees were approved by the Accounting Standard Board.
• Bill and hold arrangements.
• Presenting of revenue as either gross vs. net.
• Disclosure requirements.

NOTE: This course description has been revised and reflects updates for 2025. 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:

• Evaluate what the revenue arrangement (units of account) is and whether the arrangement should be combined and include multiple elements.
• Determine how revenue should be recognized.
• Measure the allocation of revenue to multiple-element arrangements.
• Evaluate whether revenue can be recognized without delivery (i.e., bill and hold arrangements).
• Draft appropriate note disclosures to address revenue recognition.