Identifying how much has been gained, and when and how it should be recognized.

In this course, you will learn generally accepted accounting principles. We differentiate between revenue realization and revenue recognition and note when an enterprise should recognize revenue. We break down double-entry bookkeeping to its fundamentals and discuss both cash accounting and accrual accounting, providing information on the similarities and differences, and which is most appropriate in certain circumstances. Lastly, we present tests to determine the appropriate time period for revenue recognition.

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Books on law do not need to be difficult, dull, and costly. At Irwin Law Inc., our aim is to produce books of exceptional quality at affordable prices. We are determined to produce books that are modern, lively, and interesting, as well as clearly organized and attractively designed, at prices substantially lower than our competitors. Indeed, our books are accessible to students and legal practitioners alike, while maintaining the highest standards of excellence. As Canada's youngest law publisher, Irwin Law brings an innovative approach and fresh ideas to legal publishing. The company was established in 1996 - very recently in an industry whose roots go back to 1855. At its inception, Irwin Law Inc. was affiliated with the Stoddart Publishing Group. In 1999, Irwin Law was purchased by Quicklaw, Canada's leading online legal research service. The purchase was a natural, as Irwin Law had been among the first publishers to make its books available on the online database. However, when Quicklaw was purchased by LexisNexis Group in July 2002, Irwin Law needed to find new owners. The company was purchased by a small group led by Irwin Law's founding publisher, Jeffrey Miller. From its beginning, Irwin Law has strived to publish books that do more than outline the current state of the law. They analyze the complex issues of the day in a succinct and readable style and in a manner that is probing and thoughtful. Our books are accurate, comprehensive, and up-to-date. Indeed, all manuscript submissions are subject to peer review and our authors are among the leading law practitioners and professors in Canada and the world. Irwin Law brings to the marketplace books that whet the reader's curiosity, challenge established tradition, and create intellectual excitement.

Vern Krishna, CM, QC, FRSC, FCGA, MCIArb, earned a B Comm (Manchester), MBA, LLB (Alberta), DCL (Cambridge) and LLM (Harvard). He is a professor at the University of Ottawa Faculty of Law. He is also of Counsel, Borden Ladner Gervais LLP and Execu- tive Director of the Tax Research Centre at the University of Ottawa. Professor Krishna is a member of the Order of Canada, an honourary Doctor of Laws from the Law Society of Ontario, and a Fellow of the Royal Society. He has been a Bencher of the Law Society of Upper Canada since 1991 and served as its Treasurer from 2001–03. Professor Krishna is the author of The Fundamentals of Canadian Income Tax, now in its 9th edition, Income Tax Law (2012), three volumes on general taxation, corporate taxation, and international taxation in Halsbury’s Laws of Canada, and the Editor of Canada’s Tax Treaties. He is listed in Who’s Who and Lexpert has recognized him in Best Lawyers in Canada in Trusts & Estates and Tax Law.
Provincial regulators of CPAs in Canada do not require that independent providers of CPD be approved to offer courses. Instead, individual CPAs are responsible for assessing whether a CPD activity meets their requirements, and may take activities from any source provided those requirements are met.
Every course offered on LearnFormula is delivered by a qualified subject matter expert or learning organization, and advances learning objectives that are relevant to the responsibilities or professional competencies of Canadian CPAs. All activities on LearnFormula are quantifiable in terms of hours, and are also verifiable, in that users receive documented evidence of their attendance via a certificate of completion after finishing a course (and this certificate is stored by LearnFormula indefinitely). Nearly 100,000 Canadian CPAs successfully satisfy their CPD requirements via LearnFormula on an annual basis.