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Accounting Standards for Private Enterprises

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March 22, 2023

Resource, Guidance

Section 3041, Agriculture – How to apply the disclosure requirements for the net realizable value model

Are you applying the new agriculture standard for private enterprises? Do you plan to measure your agricultural inventories using net realizable value? Read this easy-to-understand resource to support your financial statement preparation process.

April 14, 2022

Resource, In Brief

In Brief – AcSB Exposure Draft – Customer’s Accounting for Cloud Computing Arrangements

Read our In Brief for an overview of Exposure Draft, Customer’s Accounting for Cloud Computing Arrangements. The proposals aim to simplify the accounting for cloud computing arrangements while ensuring entities can provide relevant information to their users. Share your feedback by attending our virtual roundtable on June 1 or June 7, and by submitting a comment by June 20, 2022. 

February 24, 2022

Resource, Webinar, Webpage

Webinar – Domestic Accounting Standards Update (Winter 2022)

Are you a Canadian private enterprise, not-for-profit organization, pension plan or an advisor to one? Watch this webinar to learn about amendments in Part II, III and IV of the CPA Canada Handbook, including topics such as accounting for retractable or mandatorily redeemable shares, not-for-profit combinations, and amendments to pension plan accounting.

December 2, 2021

News, Resource, Guidance

Revised – Framework for Reporting Performance Measures

Since the launch of our Framework for Reporting Performance Measures in December 2018, the world has witnessed significant change. With increased activity and momentum around sustainability reporting - as well as a new National Instrument on other financial measure disclosures from the CSA - disclosure of performance measures  is more relevant today than ever. To help you prepare for year-end reporting while navigating these changes, we revised our Framework for Reporting Performance Measures.

May 20, 2021

Resource, Guidance

COVID-19 and Going Concern: What the accounting standards require

The COVID-19 pandemic continues to cause considerable deterioration in economic conditions for many organizations. With significant organizations profiled in news stories for insolvencies, bankruptcies, and other financial difficulties, it’s more important than ever to keep going concern top of mind. Use our going concern resources to help navigate potential challenges associated with going concern assessments.

May 21, 2020

Resource, Guidance

Impairment of Long-Lived Assets

The COVID-19 pandemic has contributed to both an entities’ operating and forecasted losses. Read this easy-to-understand resource to help you consider if these changes indicate that long-lived assets are impaired in accordance with ASPE.

May 21, 2020

Resource, Guidance

Impairment of Goodwill and Intangible Assets with an Indefinite Life

Do you have questions about the effect of COVID-19 on the impairment of goodwill and intangible assets with an indefinite life? Read this resource to support you when preparing your financial statements in accordance with ASPE.

May 19, 2020

Resource, Guidance

Subsequent Events

Do you have questions about whether the implications of COVID-19 need to be adjusted or disclosed on your private enterprise financial statements? Read this resource on subsequent events to support you when preparing your financial statements.

May 19, 2020

Resource, Guidance

Going Concern and Liquidity Risk for Private Enterprises

Most private enterprises, unless they are an essential service, are likely in a situation where they’ve had a significant drop in their operations or are closed. This may call into question their long-term viability or ability to continue as a going concern. So what the implications of COVID-19 on the going concern or liquidity risk assessment on your private enterprise financial statements? Read this resource for more information.

May 19, 2020

Resource, Guidance

Debt Modification Accounting

To keep their businesses afloat, enterprises with reduced revenue and, in some cases, higher operating costs are working with their lenders to change terms of existing debt agreements or to obtain waivers for debt covenants. Borrowers applying ASPE should closely examine changes to their debt agreements to assess whether they are subject to modification or extinguishment accounting. Read this helpful resource to learn more.