Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
This seminar will review recent and proposed revisions to Part III - Accounting Standards for Not-for-Profit Organizations (ASNFPO) and Part II – Accounting Standards for Private Enterprises (ASPE) where applicable for NFPOs.
This seminar will provide an information update on recent revisions to the CPA Canada Handbook –Part III, Accounting Standards for Not-for-Profit Organizations (ASNFPO). In addition, revisions will be discussed to Part II, Accounting Standards for Private Enterprises (ASPE) where they are applicable to NFPOs.
Participants will first be provided with an overview of changes to ASNFPO, followed by discussion of major projects and impact on NFPOs. Then the revisions and projects in ASPE are discussed that are applicable to NFPOs.
Participants will be able to utilize this information on proposed changes to the standards to provide guidance to NFPOs and board members.
The seminar is best suited to professionals who are involved in the preparation and analysis of financial statements using ASNFPO, practitioners who provide assurance on these financial statements and CPA’s who volunteer on Boards for NFPOs.
Topics Include:
ASNFPO
- Exposure Draft
- Contributions Revenue Recognition and Related Matters
- Insurance Contracts with Cash Surrender Value
- Consultation Paper
- Scaling the Standards
- Projects
- Evaluating the Preface
- Financial Statement Concepts
- Reporting Controlled and Related Entities
- Matters NFPO Advisory Committee
ASPE (where relevant NFPOs)
- Exposure Draft
- Revenue-Upfront Non-refundable Fees or Payments
NOTE: This course description has been revised and reflects updates for 2024. If you have any questions, please contact pdevents@cpaontario.ca.
Key Takeaways
By the end of this course, participants will be able to:
- Explain implications of Exposure Draft - Contributions - Revenue Recognition and Related Matters, Insurance Contracts with Cash Surrender Value and Revenue - Upfront Non-refundable Fees or Payments.
- Explain developments other projects Evaluating the Preface, Financial Statement Concepts, Reporting Controlled and Related Entities and Consultation Paper Scaling the Standards.
- Summarize future developments in ASNFPO.
- Review matters discussed by Not-For-Profit Advisory Committees.
- List relevant publications (with links).
Who Will Benefit
Professionals who are involved in the preparation and analysis of financial statements for NFPO’s and practitioners who provide assurance on these financial statements using ASNFPO.
Prerequisite(s)
Participants should be familiar with ASNFPO and ASPE.
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)
Elizabeth J. Farrell, FCPA, FCA is an Adjunct Professor at the Schulich School of Business. In recognition of her excellence in teaching she was selected as the winner of the Seymour Schulich Award for Teaching Excellence in 1999, 2003 and 2009 and nominated for the award in 2004, 2005, 2006, 2011 and 2015. She was selected as the winner of the John Peace Teaching Award in 2002 and 2012. Elizabeth served as assistant coordinator at CPA Ontario's School of Accountancy. She has taught executive development courses for the Schulich School of Business, professional development courses for CPA Ontario and firms. Elizabeth is a co-author of Intermediate Financial Accounting. Her publications also include an accounting case analysis software package, study guides, ASPE: A Comparison to IFRS, IFRS A Review of the Standards, IFRS Leases and co-author Researching and Documenting an Accounting Issue and ASPE and NFPO Update, professional development courses, and a variety of case material. Elizabeth was a member of the Competency Map Committee. She was one of the lead authors for the assurance elective module for the CPA PEP program. Elizabeth has also served on the Board of Directors for a number of not for profit organizations.