On Demand (eLearning)

ASPE - Construction Industry

JAN 10 - Aug 31, 2022



JAN 10 - AUG 31



9:00 AM - 11:59 PM




3.75 Hours


0 Hours


Registration open until

Aug 31, 2022


NOTE: This course description has been revised and reflects updates for 2021. If you have any questions, please contact pdevents@cpaontario.ca.

This seminar explores the Part II – Accounting Standards for Private Enterprises (ASPE) that are applicable to the construction industry in a practical manner The seminar covers the disclosure requirements and other issues specific to construction contracts.

As the construction industry continues to become a larger part of the Canadian economy, a similar increase in the level of complexity of industry practices has been observed. This leaves practitioners with the challenge of applying the standard in this ever-changing landscape. This half-day course is designed to enable the practical application of the ASPE standard to construction entities. Emphasis will be placed on the application of revenue recognition and other accounting policies using specific scenarios and practical illustrative examples.

For the purposes of this seminar, construction industry includes construction contractors with various activities. A construction contractor may engage in various activities as a general contractor or subcontractor, and does not necessarily have the ownership of real estate, but is acting as a vendor to the builders, developers and landlords that have direct or indirect ownership of the real estate.

Learning Objectives

By the end of this course, participants will be able to:

  • Identify common industry practices and accounting policies.
  • Interpret financial statement presentation and disclosure requirements.
  • Analyze the effects of estimates and uncertainty in the application of revenue recognition.
  • Distinguish the appropriate application of the percentage of completion and completed contract methods of revenue recognition.


Topics covered in this course include:

  • common business practices in the construction industry
  • revenue recognition under the percentage of completion method
  • disclosure requirements under the percentage of completion method
  • revenue recognition under the completed contract method
  • unbilled receivable and deferred revenue
  • holdbacks receivable and payable
  • other financial reporting implications:
    • change orders
    • equipment, tools and other inventory
    • warranty liabilities
    • professional contracts – retail work-in-progress
    • claims and contingencies


  • familiarity with CPA Handbook – Accounting Part II ASPE
  • knowledge of the construction industry business practices

Who Will Benefit

Accounting professionals involved in the preparation of private enterprise financial statements, as well as practitioners who serve private clients, in the construction industry.


$163.00 Personal Passport

$190.00 Organization Passport

$261.00 Member

$261.00 Student

$317.00 Public

Status: Registration open until Aug 31, 2022




This is an online session. This course is available 24 hours a day, 7 days a week. Once registered, you can access the material at any time.

However, you will only have access to the course for 30 days after REGISTRATION.

Please allow at least four hours after registration for the seminar to appear on your BlackBoard page.

To access the course please visit our BlackBoard site, and log-in using the same login and password used for the Registration Portal.

Registration, cancellation, withdrawal and all other CPA Ontario PD Seminar policies can be found here.