Comparability is an enhancing quality under IFRS and ASPE.

Question

Quizplus · Accepted Answer

Comparability is an enhancing quality under both International Financial Reporting Standards (IFRS) and Accounting Standards for Private Enterprises (ASPE). It refers to the ability to compare the financial statements of different companies or entities, or of the same entity over different periods of time, in order to make informed decisions. Achieving comparability is an important objective of financial reporting standards.

Comparability Is an Enhancing Quality Under IFRS and ASPE