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ASPE
A framework of accounting guidelines tailored for privately owned Canadian entities to maintain consistency in financial reporting.
IFRS
International Financial Reporting Standards, a set of accounting guidelines providing a global framework for financial statements.
Deferral Method
An accounting procedure that postpones the recognition of certain income or expenses until a later accounting period.
Financial Statements
Reports that provide an overview of a company's financial condition, including income statement, balance sheet, statement of cash flows, and statement of changes in equity.
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