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FOCUSED Training

Are you and your staff being properly trained and kept up to date on professional standards and workflow efficiency?

FocusROI provides high quality In-house training sessions that provide flexibility in content and enables attendance by all levels of staff (even client personnel).

FocusROI courses are presented by highly qualified trainers with excellent communication skills.In particular, Stuart Hartley and Marcus Guenther spend a considerable amount of their time each year developing and presenting training courses. They consistently receive excellent course evaluations which are usually in the range of 85-95%.

Courses can be prepared for sessions as little as an hour up to three or more days. We also provide coaching in small groups of 3-10.

A sampling of courses currently available (in house) includes the following:

• Accounting Standards for Private Enterprises
• International Financial Reporting Standards
(Introduction, basics and how to implement)
• Not for Profit Accounting Standards

• Canadian Auditing Standards (or ISAs)
• Use of the C-PEM (or ISA) audit forms
• Reviews and compilations
• Quality control

Accounting Standards

Overview of ASPE requirements

½ or 1 day | Intermediate

This course cover the major ASPE requirements and practical ways to apply new standards

Course modules include:

1. An overview of ASPE
2. Asset and liability categories
3. Income statement
4. Key financial statement presentation and disclosure standards
5. Impact of new financial instrument standard
6. Review of changes including disclosures and presentation changes under ASPE

Financial Statement Presentation & Disclosure - ASPE

½ day | Intermediate

The objective of this course is to provide participants with an overview of key ASPE presentation and disclosure requirements. Presentation and disclosure is a common area where inspection deficiencies are found.The session will use sample financial statements to illustrate common presentation and disclosure requirements and then expand on more complex examples.

Course modules include:

1. Overview of general presentation and disclosure standards (HB s. 1000-1800)
2. Discussion of requirements for specific sections (HB s. 3000-3870), including: Investments, Leases, Financial Instruments
3. Documenting disclosure alternatives and use of professional judgement
4. Overview of upcoming changes ASPE

ASPE Advanced Topics

½ day | Intermediate

The course will delve into specific presentation and disclosure topics under ASPE.

Course modules include:

Overview of accounting for operating versus capital leases

1. Presentation and disclosure of leases
a) Requirements
b) Presentation example.
2. The future of lease accounting - significant updates to IAS 17. Most leases will now be classified as capital leases.

Investment accounting:
Overview of types of investments and accounting policy choices.

1. Review of joint venture and investment accounting, including how to assess control.
2. Presentation and disclosure of investments - Case Study
3. Discussion of exposure drafts: Consolidations, joint-arrangements and subsidiaries.

Accounting for Real Estate Companies
Overview of key REALpac accounting policy choices and disclosure, including:

1. Property acquisitions and construction costs;
2. Revenue recognition
3. Impairment

Review of 2013 annual improvements brief overview of 2014 annual improvements.

1. Overview of 2013 and 2014 annual improvements.
2. Examining the new Employee Future Benefits (s. 3462) standard

International Financial Reporting Standards

Understanding IFRS financial statements

½ or 1 day | Intermediate

In this course we will identify what to areas and disclosures to look for in identifying differences may exist between ASPE and IFRS. You’ll come away from this course with a practical understanding of the impact of IFRS on publically accountable entities.

Course modules include:

1. Financial Statement presentation
2. Fair value accounting
3. Impairment testing
4. Investments and Financial Instruments
5. Tax Accounting
6. Reading the MD&A
7. Other disclosures and specialized topics
8. What to expect in the future

Not-for-Profit Accounting Standards

Not for Profitorganizations - accounting

½ day | Intermediate

This half day course will an overview of key requirements, including accounting policies and a review of presentation and disclosure requirements.

The course will also examine changes to the Ontario Condominium Corporations Act and issues related to accounting for and auditing condominium corporations, as well as audit considerations for other NFPOs.

Course modules include:

Accounting Standards for Not-For-Profit Organizations
• Fund accounting and other general financial statement presentation requirements
• Accounting for contributions and donations
• Tangible and intangible capital assets
• Note disclosure requirements specific to not-for-profit organizations
• Review of 2013 annual improvements and proposed changes to ASNPO
       o Employee future benefits
       o Improvements to NFP Standards – 15 principles

Condominium Corporations
• Overview of the new Ontario Condominium Corporations Act
• Audit issues relating to condominium corporations
       o Identification of key risks
       o Identifying related parties
• Common presentation and disclosure errors.

Audit issues
• Issues relating client communications
       o Independence letters
       o Audit planning and findings letters
       o Representation and engagement letters
• Revenue recognition – audit considerations regarding the completeness of donation revenue.
• Auditing expense and account allocations and deferred revenue

Audit / Review

Canadian Auditing Standards

CAS's – Implementation

1-2 days| Junior

This course explains how to perform a cost effective audit using the all new C-PEM forms. You’ll come away knowing how to audit efficiently and effectively and how to implementCASs within your firm.

Course modules include:

1. Overview of The 14 step audit approach
2. Use of and how to customizing CPEM forms
3. Risk assessment and further audit procedures
4. Addressing Significant risks
5. Importance of planning
6. Top down approach to internal control
7. Audit sampling
8. Communications
9. Completing the file

Standards for Review and Compilation Engagements

Review Engagements – Implementation

1-2 days | Junior

This course explains how to perform a cost effective review engagement using the C-PEM forms. You’ll come away knowing about current developments and common practice inspection deficiencies.

Course modules include:

1. Overview of the 8 step review engagement approach
2. Proposed standards for review engagements – what will change
3. Use of materiality and risk in a review
4. Communicating results
5. Common file deficiencies
6. Completing the file

Quality Assurance

Quality Assurance

½ day | Basic

This course provides a refresher on the quality control requirements and some practical ideas on developing a cost effective system of quality control. The course will address the tailoring of the quality control manual, monitoring quality and common findings of practice inspectors. You'll come away with an understanding of how quality control can be used to improve the effectiveness of your practice and help maintain the highest calibre of clients and staff.

Course modules include:

1. Leadership and firm culture
2. Developing and implementing the Firms quality control manual
3. The monitoring requirements
4. Engagement Quality Control Review
5. Quality control and the sole proprietor
6. Identifying and managing risk
7. Personnel development
8. Coping with constant change in professional standards
9. Engagement level quality control
10. Documenting compliance with quality control policies and procedures

Coaching Sessions (In House)

A value at FocusROI is a strong commitment to continuous learning. Every staff member is expected to fully up to date in their area of specialty. This learning is then reinforced through teaching, writing and client assignments where we address the practical implications involved.

FocusROI provides training courses ranging from standard (lower cost) courses to highly customized courses designed for a specific purpose. Some typical training assignments are outlined below:

Team/group training
Half or full days on subjects such as:
• Understanding how to use CPEM effectively
• A refresher on the CASs
• Quality control – policies and procedures

Round tables
Half or full day sessions to develop tailored and practical firm/entity plans to implement new requirements, plan for the future, develop new policies and procedures or make important changes in entity culture or operations. These sessions contain brief presentations on new requirements or session objectives and facilitated sessions to obtain input from participants and develop the specific action plans required.

Lunch and Learn sessions
FocusROI can provide 45 to 60 minute "Lunch and learn" seminars directly into your office (or offices). All that is needed is high-speed web access, an LCD projector and a telephone with a speaker phone. These sessions would be live, interactive (questions could be asked at any time) and would qualify for professional development credits. Subject matter could include updates on new standards and shorter versions of the topics presented under team/group training above. These live sessions provide a cost effective training tool that can easily be incorporated into your partners’ and staff’s schedules.

Call us (416 594-0005) for a free quotation on your training needs or email us at