PSAS-Review of the Standards

PSAS-Review of the Standards
Distance Learning (DL) courses are sessions that have been recorded from live, in-person offerings and made available as on-demand videos online, along with any corresponding course materials. Note these are purely self-study products and there will be no access to instructors for questions and answers. Each title qualifies for verifiable CPD hours upon successful completion of a quiz at the end of the session. Unlimited quiz attempts are available until the passing grade of 70% or better is achieved. After this, you will no longer have access to the quiz.

NOTE: Course login details are normally sent to registrants within one week from date of registration.


Recorded: September2021 

Because the video recordings are taken from live seminars, the information presented is up-to-date at the time of recording. While we make an effort to keep our inventory updated and seasonally remove outdated titles, changes in accounting, tax and other acts and legislations can happen at any time. It is up to the purchaser to take note of the recording date, and to determine for themselves whether the recorded video is still relevant to their needs. 

This course is being offered to:

  • Allow participants to leave the workshop with a strong knowledge of general PSAS and an understanding of the PSAS for researching complexities of real-life situations.
  • Understand the objectives of public sector accounting standards and what makes these standards different from APSE or IFRS.
  • Ensure participants are aware of significant changes expected to the standards.

Create awareness around the implications COVID-19 can have on a public sector entity’s financial reporting.  

The learning objectives for this course are as follows:

  • Given a module-based format, participants will learn the key fundamental PSAS concepts within the Handbook.
  • With the use of some mini cases and examples, participants will practice applying the PSAS concepts to specific examples via group discussion.
  • Participants will be able explain the PSAS reporting framework and how PSAS differs from ASPE and IFRS.
  • Participants will be able to summarize the new and pending PSAS standards, and COVID-19 financial reporting considerations.

Topics covered in this course include:

  • Introduction to PSAS and the Conceptual framework/reporting model
  • Government reporting entities and accounting for controlled entities
  • PSAS revenue standards
  • PSAS asset retirement obligations and liability for contaminated sites standards
  • Financial instruments and re-measurement gains/losses
  • Tangible capital assets and impairment
  • Pensions, employee future benefits, and PSAB projects
  • Loans receivables and loan guarantees
  • Contractual rights and obligations
  • Related party and inter-entity transactions
  • Restructuring transactions
  • PSAS Handbook structure, including GAAP hierarchy, public sector guidelines, and SORPs
  • PSAS COVID-19 financial reporting considerations.

General working knowledge of ASPE and/or IFRS. Some knowledge of the Public Sector Accounting Standards (PSAS) Handbook is ideal but not required.

Target audience would be:

  • Preparers of public sector financial statements (CFO, Director of Finance or Managers)
  • Auditors of public sector financial statements (Partners, Senior Managers, or Managers)
  • Board members of public sector entities

CPD-7 Hours

4/1/2022 - 3/31/2023 11:59 PM