The main difference in accounting for leases under Accounting Standards for Private Enterprises (ASPE_versus International Financial Reporting Standards (IFRS_is that IFRS requires effective-interest method of amortizing a bond discount or premium.

Question

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IFRS requires the effective-interest method of amortizing a bond discount or premium, while ASPE allows the straight-line method.

The Main Difference in Accounting for Leases Under Accounting Standards