The GAAP’s, IFRS and ASPE
Bring a pen, ruler and calculator for the Unit Test Friday
What is IFRS (International Financial Reporting Standards)? ASPE (Accounting Standards for Private Enterprises)?
- Discussion: the need for rules and procedures for accounting if we are to trust the information
- Discussion: Ethics and review the GAAP/IFRS/ASPE: Business Entity Concept, Cost Principle & Continuing Concern, Revaluation Model -IFRS
- Additional Review and Practice: Read 33-37 Questions 1-6