Accounting and assurance standards – Financial instruments

Length: 3 h 30

Updated training for 2022-2023


In 2018, CPA Canada issued the new Section 3856 Financial Instruments, with initial application for fiscal years beginning on or after January 1, 2020. However, given the pandemic and in order to address the concerns of businesses and practising professionals, application of the new recommendations has been delayed for fiscal years beginning on or after January 1, 2021… conveniently… to December 31, 2021.

The new recognition, classification and financial statement presentation requirements go beyond shares issued for tax planning purposes. These amendments introduce new measurement requirements for financial instruments between related parties; in short, collateral amendments to Section 3840 Related Party Transactions.


Identify, understand and apply the new accounting rules in financial reporting.

  • Identification of changes
  • Amendments to the recognition rules for shares issued in connection with tax planning for fiscal years beginning on or after January 1, 2021
    • Shares issued before January 1, 2018
    • Shares issued after January 1, 2018
    • New shares issued in the first year of application
  • Statement presentation
    • Restatement of prior years
    • New information in the equity section of the balance sheet
    • Presentation and notes to the financial statements
  • Related party financial instruments
    • Initial measurement of the financial instrument
    • Measurement of the non-financial instrument consideration
  • New decision tree in Section 3840
  • Documentation for audit and review files

Last but not least

  • Presentation of the changes made to the Paradigme Audit Questionnaires
  • Practical examples for:
    • Initial measurement of financial instruments
    • Financial statement adjustments
    • Notes to the financial statements
    • Discussion with participants


Please contact André Mignault at 514-686-7341 to schedule your training.

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