Accounting for Revenue & Related Party Transactions (ASPE)

  • Course provided by Udemy
  • Study type: Online
  • Starts: Anytime
  • Price: See latest price on Udemy
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Course Description

In this course, you'll accelerate your technical accounting knowledge on two of the most common topics under Accounting Standards for Private Enterprises in Canadian GAAP: revenue recognition and related party transactions.

We'll review the accounting treatments for following topics throughout the course with examples:

- 5 Step revenue recognition criteria assessment model

- Percentage of completion vs. completed contract revenue approaches - when to use them and how to calculate revenue under each of the approaches.

- Multiple deliverable arrangements

- Related party transactions which may occur in the ordinary course of business or not.

By the end of this course, you'll have a strong understanding of these technical accounting topics and be well versed in these topics. You'll also receive access to the course Q&A section where you can ask the instructor 1:1 questions.

Expected Outcomes

  1. In this course, students will learn how to account for revenue and related party transactions under ASPE. This includes a review of the 5 step revenue recognition critiera under GAAP, the completed contract and percentage of completion method, and multiple deliverable arrangements.