Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
This course is designed to address the challenges faced by preparers of ASPE financial statements and practitioners with respect to the recognition, measurement, presentation and disclosure of related party transactions and balances under ASPE. The course uses case studies, exercises and examples to illustrate the numerous and complex issues when accounting for related party transactions.
Accounting for related party transactions is one of the most complicated areas of applying Accounting Standards for Private Enterprises (ASPE) and it is an area of accounting regularly cited for deficiencies by practice inspection. Now that complexity has increased with changes to ASPE 3856 accounting for retractable and mandatorily redeemable shares and accounting for financial instruments in related party transactions.
Topics Include:
- What is a related party transaction and who are related parties?
- How should related party transactions be measured – at cost, exchange amount or fair value?
- When and how does section 3856, Financial Instruments apply to related party transactions?
- Should related party financial instruments be classified as current or non-current?
- How to assess collectability of related party receivables?
- Should gains and losses on related party transactions recorded in profit and loss or as a capital transaction?
- Disclosure requirements under section 3840 including the terminology dos and don’ts.
- Accounting for business combinations among related parties.
- Accounting for amalgamations, wind-ups and other combinations involving related parties.
NOTE: No updates or changes were made to the 2025 version of this course. If you completed the course in 2024, please be advised the 2025 course material has not changed. If you have any questions, please contact pdevents@cpaontario.ca.
Other Available Sessions
- Session for December 15 available here.
Schedule
- November 27, 2025, 9:00 a.m. - 1:00 p.m.
- November 28, 2025, 9:00 a.m. - 1:00 p.m.
Key Takeaways
By the end of this course, participants should be able to:
- Recognize and measure related party transactions – from simple to complicated transactions including amalgamations and property transfers.
- Draft best practice disclosures for related party transactions addressing the concerns of practice inspection.
Who Will Benefit
Professionals involved in the preparation of private enterprise financial statements and practitioners who serve private clients with related party transactions.
Prerequisite(s)
Participants should be familiar with the CPA Handbook – Assurance and Part II Accounting Standards for Private Enterprises (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)
Paul Rhodes, CPA, CA, FCA (ICAEW) - with over 20 years public accounting experience, the last 10 as an audit partner in a large accounting firm, Paul has seen a broad array of engagements with varying complexity and diversity. In addition, he led the firm’s International Financial Reporting Standards (IFRS) group. Paul recently started his own practice providing expert accounting, financial reporting and quality control services to ensure the highest standards are achieved. His passion is that of an innovator with strong intellectual curiosity who looks for new approaches to solving problems. Paul is committed to transferring knowledge in all the work he does and is currently contributing technical writing to John Wiley & Sons, Inc. He holds the CPA CA designation from Chartered Professional Accountants of Ontario and the FCA from the Institute of Chartered Accountants in England and Wales.