IFRS specify that depreciation is the term to be used, whereas ASPE allow both amortization and depreciation to be used.

Name: IFRS specify that depreciation is the term to be used, whereas ASPE allow both amortization and depreciation to be used.
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IFRS specifies the use of the term "depreciation" for tangible assets, while ASPE (Accounting Standards for Private Enterprises) in Canada allows for the use of both "depreciation" and "amortization," with "amortization" often used for intangible assets.

IFRS Specify That Depreciation Is the Term to Be Used