Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
This workshop examines the application of complex areas in the PSAS. Following a brief refresher on some of the more recent standards and changes to come, including a deeper dive on Asset Retirement Obligations, participants will learn strategies for translating general standards to the real world. The workshop explores common areas of complexity that appear frequently in practice that raise discussions between finance professionals and auditors using mini-case studies, shorter collaborative discussion exercises, and real-world examples.
This course is being offered to:
- Gain a strong knowledge of general PSAS concepts and an understanding of the PSAS Handbook for researching complexities of real-life situations.
- Improve general understanding of some of the more complex areas of the PSAS Handbook to allow participants to engage in more meaningful discussion and analysis when such issues in these specific areas arise in their work.
- Provide knowledge of significant changes coming to the PSAS Handbook so participants can plan for these changes on a timely basis.
Topics Include:
- Understand what's new in the PSAS Handbook including private/public partnerships, the general revenue standard and financial instruments. A brief overview of all current projects underway is provided.
- Asset retirement obligations, and liabilities for contaminated site.
- Government transfers, including issues and differences in application.
- Controlled entities, including specific examples of different situations and relationships.
- Leased tangible capital assets, with government as a lessee and a lessor.
- Financial instruments and hedging, including the impact of the Statement of Re-measurement Gains and Losses.
- Common issues for local and senior governments
NOTE: This course description has been revised and reflects updates for 2023. If you have any questions, please contact pdevents@cpaontario.ca.
Key Takeaways
Using several case studies, most of the participant effort in the course will be applying the PSAS Handbook to the common areas that are controversial in practice via discussion in small groups and with the instructor.
Who Will Benefit
- Preparers of public sector financial statements (CFO, Director of Finance or Managers)
- Auditors of public sector financial statements (Partners, Senior Managers, or Managers)
- Board members of public sector entities
Prerequisite(s)
PSAS: Specific Topics or a general working knowledge of existing Public Sector Accounting Standards (PSAS).
How to Access The Course
To access the course 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.