There are fewer note disclosures required under ASPE than under IFRS for financial instruments.

Question

Quizplus · Accepted Answer

ASPE generally requires fewer note disclosures for financial instruments compared to IFRS. This is because ASPE has a simpler classification and measurement model for financial instruments, which may not require the same level of disclosure as the more complex IFRS model. However, specific disclosure requirements may still vary depending on the nature and characteristics of the financial instruments and the needs of users of the financial statements.

There Are Fewer Note Disclosures Required Under ASPE Than Under