This course is designed to demonstrate the differences between the previous accounting framework now in Part V of the revised CICA Handbook – Accounting and the new framework for private enterprises.
Who Will Benefit:
This course will benefit all practitioners and preparers of Canadian GAAP financial statements for private enterprises. It will also be beneficial to the not-for-profit sector, because many of the asset and liability measurement and recognition requirements of ASPE will be applicable to the not-for-profit sector.
Participants learn the impact of the new standards for private enterprises when compared to past practices from the previous accounting model and what the new framework financial statements will look like for these enterprises.
A complete comparison of the GAAP standards contained in the CICA Handbook – Accounting Part V (previously the CICA Handbook – Accounting and the CICA Handbook – Accounting XFI) with accounting standards for private enterprises now included in the CICA Handbook – Accounting Part II
A brief historical reference of how these standards came to be, followed by a section-by-section change