EVENT DESCRIPTION
NOTE: This course description has been revised and reflects updates for 2021. If you have any questions, please contact pdevents@cpaontario.ca
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 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.
KEY TAKEAWAYS
- Explain implications of new standard on Combinations – Initial Measurement and Related Disclosures and projects on Contributions –Revenue Recognition and Related Matters, Cloud Computing and Financial Statement Concepts
- Summarize future developments in ASNFPO.
- Review matters discussed by Not-For-Profit Advisory Committees
- Explain amendments to ASPE rent concessions due to Covid-19 and annual improvements that impact NFPOs
- Identify impact of Covid-10 on accounting for NFPOs
- List relevant publications (with links).
WHO WILL BENEFIT
Professionals involved in the preparation and analysis of financial statements for NFPO’s and practitioners who provide assurance on these financial statements using ASNFPO.