Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
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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Key Takeaways
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.
Who Will Benefit
Professionals involved in the preparation of private enterprise financial statements and practitioners who are particularly interested/involved in revenue recognition issues.
Prerequisite(s)
Participants should be familiar with the CPA Handbook – Accounting, Part II Accounting Standards for Private Enterprises (ASPE).
How to Access the Course
To access your course in Blackboard, please follow these steps:
- Go to https://pdlms.cpaontario.ca
- Select ‘Ontario’ from login menu
- Sign in using the same login credentials used to register for the course
- Navigate to your course to access the content
Important: Your course access time begins on the date of purchase and remains available for the duration noted above. Please note that it may take up to 15 minutes after registration for the course to appear in Blackboard.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.