This seminar provides an overview of the process for developing accounting policies and drafting note disclosure using ASPE.

This seminar provides participants with a discussion on the process of developing accounting policies and drafting note disclosure using ASPE. The starting point will be an overview of the different types of accounting policies and notes. Second, this is followed by a discussion of the principles for developing accounting policies. Third, a discussion of the principles for drafting note disclosure. Fourth, a discussion of the process and steps to following in updating revising an existing accounting policy and note disclosure for new information. Fifth, a discussion of the process and steps to follow in revising an existing new accounting policy and note disclosure for an amendment or a change in the standard. Sixth, a discussion of the process and steps to follow in developing a new accounting policy and note disclosure for a new transaction where there is no specific standard for a transaction. Lastly, a review of ways to stay current and relevant resources.

Participants will have the opportunity to review a number of exercises and cases. After attending this seminar, participants will have reviewed the process of developing accounting policies and drafting note disclosure using ASPE.

The focus of this course is on the process of developing accounting policies and drafting note disclosure not on explaining the requirements within the standards for accounting policies and note disclosure.

TOPICS INCLUDE

LEARNING OBJECTIVES

Upon completing this course, you be able to:

WHO WILL BENEFIT

CPAs interested in the process of developing accounting policies and drafting note disclosure using ASPE. If you are interested in understanding the content in the standards you should be taking the course ASPE A Review of the Standards. If you are interested in what is required disclosure in the notes for drafting note disclosure you should be taking the course ASPE Disclosure and Presentation.

• Overview of accounting policies and notes
• General principles in developing accounting policies
• General principles in drafting note disclosure
• Process updating an existing accounting policy and note disclosure for new information
• Process revising an existing accounting policy and note disclosure for amendment or change in the standard
• Process developing a new accounting policy and note disclosure for a new transaction
• List relevant resources
  • Identify the types of accounting policies and notes
  • Identify general principles for developing accounting policies
  • Identify general principles for drafting note disclosure
  • Identify and explain the process of updating an existing accounting policy and note disclosure for new information
  • Identify and explain the process in revising an existing accounting policy and note disclosure for an amendment or change in a standard
  • Identify and explain the process in developing a new accounting policy and note disclosure for a new transaction with a specific standard
  • Identify and explain the process in developing a new accounting policy and note disclosure for a new transaction with no specific standard
  • List relevant resources