Model Financial Statements - Private Enterprises
Part II of the CPA Canada Handbook – Accounting |  |
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Model Financial Statements – Private Sector NFPOs is designed to assist private sector not-for-profit organizations with the preparation of consistent financial statements that reflect the professional standards.
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Model Financial Statements - Private Enterprises
Part II of the CPA Canada Handbook – Accounting includes access to the following title(s):
Model Financial Statements – Private Enterprises takes into account the standards for private enterprises (ASPEs) in Part II of the CPA Canada Handbook – Accounting.
Model Financial Statements – Private Enterprises is presented in two sections:
- The first section provides an analysis of the accounting standards based on the financial statement structure. Each analysis highlights changes and provides a brief summary of the recognition and measurement requirements, the challenges for practical application, optimization of accounting choices and the key presentation elements.
- The second section includes four sets of model financial statements with sample independent auditor reports and review engagement reports along with appropriate references to Part II of the Handbook relating to significant items and notes to the financial statements.
- The first model was prepared for entities that already apply accounting standards for private enterprises.
- The second model illustrates the non-consolidated financial statements of a management company.
- Two other models illustrate financial information to be presented by first-time adopters of accounting standards for private enterprises (including the reconciliation of the opening balance sheets in accordance with FIRST-TIME ADOPTION, Section 1500, in Part II of the CPA Canada Handbook – Accounting).
These financial statements also include appropriate references to Part II of the CPA Canada Handbook – Accounting relating to significant items and note disclosures. Whether you are in public practice or business/industry, these model financial statements will make your work much easier.
Because each engagement is unique, Model Financial Statements – Private Enterprises online version includes access to sample financial statements on Knotia.ca in Word and PDF format that will help you create statements to meet the needs of your clients and your business.
Related Publications
Model Financial Statements – Private sector NFPOs
Part III of the CPA Canada Handbook – Accounting
The Professional Engagement Guide (PEG)
Quality Management Guide (QMG) ISBN: 978-1-5254-0068-1 Publication Date: December 2022 |
