Which accounting standards would be used by a publicly traded Canadian company that is not inter-listed?
A)IFRS
B)US GAAP
C)ASPE
D)Pension Accounting

Question

Quizplus · Accepted Answer

Publicly traded companies in Canada are required to use IFRS (International Financial Reporting Standards) for their financial reporting unless they qualify as a private enterprise, in which case they can use ASPE (Accounting Standards for Private Enterprises). US GAAP (Generally Accepted Accounting Principles) is typically used by companies that are inter-listed on both Canadian and American stock exchanges. Pension accounting is not a complete set of accounting standards and is a specific area of accounting within the broader framework of financial reporting.

Which Accounting Standards Would Be Used by a Publicly Traded