Participants will build foundational knowledge of the conceptual framework and new reporting model under PS 1202. Participants will understand the changes the previous reporting model, and the key challenges in implementation and ongoing accounting under this new model. Participants will apply concepts to practical scenarios through examples, mini-cases, and discussion.

Note: Participants may bring financial statements from their organizations (if appropriate) to use as reference during examples and exercises.

• Preparers of public sector financial statements (e.g., CFOs, directors of finance, managers, and accounting staff). 
• Auditors of public sector financial statements (e.g., partners, senior managers, managers, and senior auditors). 
• Board or audit committee members and senior management of public sector entities and governments. 
• Professionals working with governments, municipalities, First Nations, and government-controlled entities. 

By the end of this course, participants should be able to: 

• Explain the PSAS reporting framework and the role of the conceptual framework. 
• Compare new PSAS concepts and statements with the old model and with ASPE and IFRS to understand similarities and differences. 
• Describe the requirements related to entity developed accounting policies, identification of financial vs non-financial liabilities, and other key new areas. 
• Apply the new PSAS concepts to common public sector scenarios using case exercises. 

Topics include: 

• The new Conceptual Framework, including its relevance to the standards, key aspects and connections between the standards and the framework, and significant changes from the previous conceptual framework, and differences from the IPSAS conceptual framework. 
• Entity developed accounting polices – what they are, common areas for these policies, and how to determine consistency with the conceptual framework. 
• The new Financial Reporting Model – PS 1202, including the new statements, and key financial measures.   
• Net Financial Liabilities (or Net Financial Assets) – the replacement for Net Debt 
• Classifying liabilities as financial or non-financial 
• Classifying assets as financial or non-financial 
• Examples and case studies to help understand application in practice
  
  

Course Content Created: July 2026

Presenter

About This Product

On-Demand Courses by CPA PRO are either video recordings from live seminars, or video recordings produced specifically for the on-demand audience. Slides and any corresponding handout materials are included where available.These titles are eligible for Verifiable CPD Hours – in order to claim these hours as verifiable, you will be required to successfully complete a short quiz. You will be able to print or save your electronic certificate of completion.

Note that some courses comprise both formal instruction and self-directed exercises. In such cases, participants must complete both components to claim full CPD hours, or must reduce their reported CPD hours accordingly.

Please note that not all on-demand courses include downloadable materials such as course notes or slides.

How to get started

After completing your purchase, go to mylms.bccpa.ca. Log in using your CPABC Online Services credentials. Click Go to Your Courses and Materials to access your Learning Center. Select your course title to begin.