Latest Accounting Update: ASPE and ASPO (2025)

Stay current with the evolving landscape of financial reporting in this focused course, Accounting Update: ASPE and ASPO. Led by subject matter expert Marcus Gunther, this session provides a critical review of active projects, exposure drafts, and recently issued standards affecting both private enterprises and not-for-profit organizations. As implementation dates for 2026 and 2027 approach, understanding these changes is vital for maintaining compliance and avoiding common pitfalls during practice inspections.

This course moves beyond simple updates to offer practical guidance on complex accounting areas that frequently result in file deficiencies. Participants will explore the significant proposed changes to the measurement of goodwill and intangible assets, including the potential shift back toward amortization models to address cost-benefit concerns. The session also provides a deep dive into Cloud Computing Arrangements (AcG-20), clarifying the differences between simplified and detailed approaches for capitalization versus expensing. Furthermore, the course tackles high-risk areas such as Revenue Recognition, breaking down multiple-element arrangements and percentage of completion methods to ensure robust documentation and policy application.

Key Learning Outcomes:

• Analyze active projects and exposure drafts, specifically regarding the subsequent measurement and amortization of goodwill and intangible assets.
• Understand the accounting and disclosure requirements for Cloud Computing Arrangements (AcG-20) and Cash Surrender Value of Life Insurance.
• Apply best practices for Revenue Recognition (Section 3400), focusing on multiple-element sales arrangements and identifying performance obligations.
• Identify and remediate common financial statement presentation deficiencies related to related party transactions, inventory, and long-term debt covenants.
• Review critical disclosure requirements for financial instruments, including retractable shares in tax planning arrangements and liquidity risks.