Under the Accounting Standards for Private Enterprises (ASPE),organization costs are expensed but under the International Financial Reporting Standards (IFRS),they are capitalized.

Question

Quizplus · Accepted Answer

Under both ASPE and IFRS, organization costs are generally expensed as incurred. Neither framework allows for the capitalization of such costs as assets.

Under the Accounting Standards for Private Enterprises (ASPE),organization Costs Are