Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
This seminar will provide a broad review of financial statement presentation and note disclosure requirements under Part III- Accounting Standards for Not-for-Profit Organizations (ASNFPO) and relevant disclosures from Part II - Accounting Standards for Private Enterprises (ASPE). Participants will review a number of examples of disclosures and engage in activities to identify issues and improve disclosures. Different presentation methods (restricted fund vs. deferral method) and the impact on presentation will also be discussed.
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This course will serve as a comprehensive review of the presentation and disclosure requirements faced by a not-for-profit organization when it applies ASNFPO and relevant ASPE standards. Participants will review a variety of examples and learn to apply the disclosure requirements for a number of different areas that NFPOs regularly deal with.
Topics Include:
- Concepts that drive the presentation and disclosure requirements
- Statement of operations presentation and related disclosures
- Statement of financial position presentation and related disclosures, e.g. financial instruments
- Statement of changes in net assets
- Statement of cash flow presentation and related disclosures
- Choosing a presentation methodology and understanding the different methods for accounting for contributions
- Review of sample financial statements using real world examples
- Disclosure of significant accounting policies
- Financial instruments
- Inventories
- Controlled and related entities
- Tangible and intangible capital assets and collections held by a not-for-profit organization
- Employee future benefits
- Other revenues and contributions
- Allocated expenses and interfund transfers
- Related party transactions
- COVID-19 considerations and Handbook standards to consider
- Ongoing projects and potential impact of changes
NOTE: This course description has been revised and reflects updates for 2024. If you have any questions, please contact pdevents@cpaontario.ca.
Schedule
- February 3, 2025, 8:30 a.m. - 12:30 p.m.
- February 4, 2025, 8:30 a.m. - 12:30 p.m.
Key Takeaways
By the end of this course, participants will be able to:
- Identify and analyze accounting issues specific to NPOs and determine the appropriate disclosures required.
- Identify where policy choice exists and determine the appropriate level of disclosure required to communicate those choices to the user of the financial statements.
- Interpret facts and scenarios to determine the appropriate presentation and disclosure.
Who Will Benefit
Professionals at all levels involved in the preparation and review of NFPO financial statements. Government-controlled NFPOs must follow the Public Sector Accounting Handbook, which will not be addressed in this seminar.
Prerequisite(s)
Participants should have an understanding of the CPA Handbook – Accounting Part II & III, with respect to measurement issues, or completion of the seminar ASNFPO: Review of the Standards.
How to Access the Course
This course is a live webinar. You must attend the live course to receive verifiable CPD hours. We recommend you join five minutes prior to the scheduled starting time. To get the full experience of this interactive course, use a computer that has video and microphone capabilities.
Electronic material can be accessed one week prior to the course and should be downloaded in advance.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.
Speaker(s)
Jules Hawkins, CPA, CA is a partner of Hawkins and Co. Accounting Professional Corp. www.hawkins-accounting.ca. He received his UK CA in England in 1996, and his Ontario CA in 2005. Before founding his own firm in 2014, Jules spent 20 years with Big 4 and regional-level firms, focusing on assurance. He has significant experience developing and teaching training courses in both the UK and Canada. Jules teaches advanced accounting courses at the University of Windsor, and serves on CPA Canada's SMP Advisory Committee. From 2011 through 2014, he was also Chief Financial Officer of Essex Angel Capital Inc., a TSX-Venture Exchange listed investment company.