CPA Canada's Illustrative Financial Statements (IFS)
CPA Canada undertakes initiatives to support members in the application of standards in the CPA Canada Handbook. These illustrative financial statements (“IFS”) are designed to assist you in preparing and presenting financial statements in accordance with Canadian Accounting Standards for Private Enterprises (ASPE) and Accounting Standards for Not-for-Profit Organizations (ASNPO).
Each scenario in the IFS assumes certain circumstances and fact patterns, and accordingly, accounting policy choices are made where permitted by the relevant
accounting standards. In selecting and evaluating accounting policy selections, preparers/practitioners should reflect on fair presentation of the specific circumstances of their respective scenarios.
Everyone should use this resource as a first step when checking presentations and disclosure examples while reviewing and auditing financial statements under ASPE and ASNPO. You can find this information below and in Folder 15 on the Z Drive.