Dates and location
Hours
Dates and location
Hours
Description
This video from the Small and Medium Practitioners Conference 2024 will take an in-depth look at the Accounting for financial instruments under Accounting Standards for Private Enterprises (ASPE), Section 3856, Financial Instruments, for private corporations. The course will start with an overview of the purpose and scope of standard, including different types of financial instruments and definitions. The course will then discuss the recognition, measurement, presentation, derecognition, and disclosure requirements. The course will also touch upon other issues such as Retractable or Mandatorily Redeemable Shares Issued in a Tax Planning Arrangement and those with related parties. This course will leverage various examples to explain the concepts.
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Key Takeaways
Upon completion of this course, you will learn:
- The Accounting for financial instruments under Section 3856, Financial Instruments.
- Section 3856 requirements, including recognition, classification & measurement, derecognition and disclosures, for both arm’s length and related party transactions.
- Various measurement methods and their impact on financial statements.
- When financial assets and financial liabilities are offset.
- When hedge accounting may be applied.
Who Will Benefit
Small business owners and sole practitioners, accounting firms and CPAs working in post-secondary institutions. Current and aspiring professional practitioners interested in updating their knowledge on issues and legislation facing the accounting profession.
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.
Speaker(s)
Babar Khan is an experienced cross-border tax professional with over 14 years of experience in US & Canadian tax compliance and advisory work. He specializes in taxation for Expatriates, Business Travelers, High Net Worth Individuals and Owner-Managed businesses. Babar also teaches at Canada’s Schulich School of Business and CPA Ontario. Babar holds an MSc (Tax) from University of Oxford (UK), an MBA from Schulich School of Business and a BBA from University of Toronto. He is also a dual US and Canadian CPA. Babar also serves on the board of a UK based EdTech company.