Companies following ASPE are required to prepare all of the following statements EXCEPT
A) Income Statement.
B) Cash Flow Statement.
C) Statement of Changes in Shareholders' Equity.
D) Statement of Retained Earnings.

Question

Quizplus · Accepted Answer

Under Accounting Standards for Private Enterprises (ASPE) in Canada, companies are required to prepare an income statement, a cash flow statement, and a statement of retained earnings. The statement of changes in shareholders' equity is not specifically required under ASPE, as the relevant information is typically provided in the statement of retained earnings and other financial statements.

Companies Following ASPE Are Required to Prepare All of the Following