Accounting for Revenue & Related Party Transactions (ASPE)

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

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.