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Courses/Accounting & Tax/Accounting

ASPE Update 2023

Navigating Accounting Updates: Implementing New Standards and Staying Informed

Created byMya Feng, CPA, CFA
4.3
(591 reviews)
BeginnerUpdated May 21, 2023
ASPE Update 2023

What You'll Learn

check_circleApply the revised revenue recognition standards in various scenarios, including special circumstances and multiple performance obligations.
check_circleImplement the new accounting guideline for cloud computing, including accounting for expenditures and determining software intangible assets.
check_circleComprehend the changes to the financial instrument standard and their effects on companies with financial instruments.
check_circleEvaluate the exposure draft for accounting for combinations between entities or businesses under common control and changes to accounting for related party transactions.
check_circleDevelop strategies for staying up-to-date on accounting standards and leveraging AI technologies for ongoing professional development.
check_circleUnderstand the impact of updates on financial reporting quality, global comparability, operational compliance, and disclosure requirements.

About This Course

This course provides a comprehensive overview of the latest updates to the ASPE (Accounting Standards for Private Enterprises) and their impact on accounting practices. It covers key changes to revenue recognition standards, the new accounting guideline for cloud computing, the revised financial instrument standard, and the updated standard for agriculture.

The course also explores the exposure draft for accounting for combinations between entities or businesses under common control and changes to accounting for related party transactions. Participants will gain a deep understanding of these updates and their implications for financial reporting.

Some of the topics discussed include:

  • Overview of the ASPE financial instrument update for 2023
  • Key changes to revenue recognition standards
  • Staying updated on accounting guidelines
  • Understanding the new accounting guideline for cloud computing
  • Current accounting practices and the new guideline for cloud computing
  • Considerations for the revised standard for agriculture
  • Key changes to the leases standard
  • Introduction of the exposure draft
  • Changes to accounting for related party transactions
  • Other relevant developments

Your Instructors

Mya Feng, CPA, CFA
Mya Feng, CPA, CFA

Financial Controller | Norima Consulting Inc.

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star591 reviews

As a CPA and CFA charter holder, Mya has over 7 years of experience in accounting, finance, and investment management. Her career began at a Big Four firm, later transitioning to a consulting firm. Committed to staying current, Mya possesses broad expertise and provides comprehensive advice. As a controller, she oversees financial operations, including reporting, budgeting, and risk management, while advising the executive team. Passionate about achieving financial goals, Mya is a dedicated and results-driven professional.

Nicole Pettes
Nicole Pettes

Podcast Host | LearnFormula

Nicole Pettes is a highly experienced podcast host known for her engaging interview style and ability to draw out the best in her guests. She has hosted a diverse range of podcasts and video interviews that explore a wide variety of topics. Currently, Nicole is a Video Podcast Host with Learn Formula, where she contributes to their professional education series. She also hosts the Anxious & Ambitious podcast, which explores personal growth and mental health, and co-hosts the Podcast Guesting For Profit, which helps entrepreneurs and podcasters succeed as podcast guests.

Credit Information

Do these courses count toward my professional development requirements?

This portal is provided as a training and development resource for City of Markham employees. Every course is delivered by a qualified subject matter expert or learning organization, is quantifiable in hours, and is verifiable — you receive a documented certificate of completion for every course you finish, stored on LearnFormula indefinitely.

If you hold a professional designation (for example in engineering, accounting, human resources, or law), courses may be counted as professionally relevant, verifiable learning activities toward your continuing professional development. Individual practitioners are responsible for confirming that an activity meets the requirements of their professional body. For questions about the City of Markham's training and development policies, please speak with your people leader or Human Resources.

What Students Are Saying

4.3
Student's Choice
591 reviews

Frequently Asked Questions

We are a registered provider with 327+ associations and regulatory bodies worldwide. We operate across 29 global markets including Canada, the US, Australia, and the UK. Every course page clearly displays its specific accreditations. Upon completion, you receive a professional certificate that can be validated online. Our certificates include all necessary accreditation details, credit hours, and completion dates, and are formatted specifically to meet the submission requirements of most global regulatory bodies.