Accounting standards for private enterprises — new online tools

摘要

With new accounting standards for private enterprises (ASPE) now in effect, the Canadian Institute of Chartered Accountants (CICA) continues to add to its series of transition tools. Generally speaking, the new standards will result in simplified accounting and less disclosure, but experts caution against expecting time and cost savings in the initial year. Careful consideration should be given to assessing available options and alternatives, and to making the required changes to processes and other systems.