The objective of the Accounting Update is to provide practitioners and firms with an overview of recent changes to Accounting Standards for Private Enterprises (ASPE) and Accounting Standards for Not-for-Profit Organizations (ASNPO), as well as review the status of projects in 2024.

The course will review common financial statement presentation and reporting errors found by Practice Inspectors and our experience as Completed File monitors.

ASPE:The course will examine recent handbook additions, specifically Related Party Combinations, which contains additional guidance and clarifications to s. 3840, as well as new exposure drafts, Insurance Contracts with Cash Surrender Value, and other projects such as the Subsequent Measurement of Goodwill and Acquired Intangible Assets.

ASNPO:The course will examine active ASNPO projects, specifically the recent exposure draft on Contributions – Revenue Recognition and Related Matters.

Specific topic areas will include:

• Exposure drafts issued in 2024
• Recently issued standards in 2023 and 2024
• Effective dates of new standards
• Financial statement presentation and disclosure issues found by inspectors and monitors

This course is ideal for:CPAs in industry and public practice. Focus is on standard updates, therefore suited to experienced CPAs, senior accountants, managers and partners or directors.