The impairment model for financial instruments under ASPE is the same as under IFRS.

Name: The impairment model for financial instruments under ASPE is the same as under IFRS.
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Under ASPE (Accounting Standards for Private Enterprises) in Canada, the impairment model for financial instruments is based on incurred losses, whereas under IFRS (International Financial Reporting Standards), the model is based on expected credit losses, which is a more forward-looking approach.

The Impairment Model for Financial Instruments Under ASPE Is the Same