The major difference in accounting for pensions under ASPE and IFRS is

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The major difference in accounting for pensions under ASPE and IFRS is that ASPE includes the entire pension expense in net income and IFRS includes actuarial gains and losses as well as remeasurements in OCI. ASPE allows two approaches for accounting, immediate recognition approach and the deferral and amortization approach, but this is not the major difference between the two accounting standards. IFRS requires the use of an actuarial for calculating pension plans, but this is not the major difference between the two accounting standards. Thus, option C is the best choice.

The Major Difference in Accounting for Pensions Under ASPE and IFRS