Course Details


Course Name: ASPE vs IFRS: Key Updates and Application in 2026
CPD Hours: 2
Type: Online/Video
Price: $120 $108


Description:
Canadian accountants operate in a unique dual-framework reality. Staying sharp means not just knowing the differences between ASPE and IFRS, but mastering how recent standards changes reshape day-to-day reporting.

ASPE vs IFRS: Key Updates and Application in 2026 is a practical, high-impact CPD course designed to cut through the regulatory noise. This session provides a comprehensive side-by-side analysis of Accounting Standards for Private Enterprises (ASPE) and International Financial Reporting Standards (IFRS), focusing heavily on the critical updates taking effect in 2025 and 2026.

From the AcSB’s groundbreaking proposals on goodwill amortization to IFRS amendments for ESG-linked financial instruments, this course equips you with the technical knowledge and practical audit-readiness strategies needed for the 2026 year-end.

Key Learning Objectives
By the end of this course, you will be able to:

- Navigate Divergent Frameworks: Confidently articulate the core philosophical and practical differences between ASPE's risk/reward model and IFRS's control-based approaches.

- Apply 2026 Updates: Implement newly effective rules, including ASPE updates on common control presentation, upfront non-refundable fees, and agriculture, alongside IFRS 9/7 amendments.

- Anticipate Major Shifts: Prepare your organization or clients for the sunsetting of IAS 1 and the upcoming arrival of IFRS 18.

- Mitigate Audit Risks: Identify and close common reporting gaps in high-stakes areas like revenue recognition, lease accounting, and long-lived asset impairments.


Topics:
Topic 1: The 2026 Canadian Financial Reporting Landscape
1.1: Conceptual Frameworks and Core Philosophy.
1.2: The AcSB’s "Detailed Review of ASPE" Project.
1.3: Audit Implications in 2026: How revised Canadian Auditing Standards.
Topic 2: Revenue Recognition and Upfront Fees
2.1: Risk/Reward vs. The 5-Step Model.
2.2: Mandated Disclosures for Upfront Non-Refundable Fees.
2.3: Percentage of Completion Pitfalls.
Topic 3: Financial Instruments (ASPE 3856 vs. IFRS 9 and 7)
3.1: Amortized Cost vs. Fair Value Divergence.
3.2: New 2026 IFRS 9/7 Amendments.
3.3: Nature-Dependent Electricity Contracts.
Topic 4: Business Combinations, Goodwill, and Intangible Assets
4.1: M and A Accounting Gaps.
4.2: The Goodwill Amortization Pivot.
4.3: Intangible Relief.
Topic 5: Related Party Transactions and Common Control
5.1: Measurement Rules.
5.2: New 2026 Presentation Amendments.
5.3: Scoping Alignment.
Topic 6: Leases and Long-Lived Asset Impairments
6.1: The Great Lease Divide.
6.2: Impairment Testing Gaps.
6.3: Practical Audit Readiness.
Topic 7: Specialized Assets: Agriculture and Insurance Contracts
7.1: New 2026 Agriculture Amendments.
7.2: Cash Surrender Value of Insurance Contracts.
7.3: IFRS Equivalents.
Topic 8: Looking Forward: IFRS 18 and Sustainability Integration
8.1: Preparing for IFRS 18.
8.2: The Sustainability Assurance Wave.
8.3: 2026 Year-End Preparation Checklist.






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