The main difference in the accounting for measurement issues between IFRS and ASPE is that
A) IFRS has a well-developed framework for measuring fair values (IFRS13), whereas ASPE does not.
B) there is no difference between accounting for measurement issues between these standards.
C) guidance under ASPE is concentrated in a single area of the ASPE body of knowledge.
D) IFRS requires explicit disclosure of fair value amounts, whereas these disclosures under ASPE are optional.

Question

Quizplus · Accepted Answer

The main difference in the accounting for measurement issues between IFRS and ASPE is that IFRS has a well-developed framework for measuring fair values (IFRS13), whereas ASPE does not. This means that IFRS provides more guidance and requirements for the measurement and reporting of fair values, while ASPE is less prescriptive in this area.

The Main Difference in the Accounting for Measurement Issues Between