Under IFRS and ASPE cash basis accounting can never be used for reporting.

Name: Under IFRS and ASPE cash basis accounting can never be used for reporting.
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Under certain circumstances, both IFRS and ASPE allow for the use of cash basis accounting. For example, IFRS allows cash basis accounting for some financial instruments and insurance contracts, while ASPE may permit it for small entities or in areas where accrual accounting provides no significant benefit over cash basis.

Under IFRS and ASPE Cash Basis Accounting Can Never Be