Complete This Table Identifying the Key Differences Between IFRS and ASPE

question 45

Essay

Complete this table identifying the key differences between IFRS and ASPE standards for leasing.
$$\begin{array} { | l | l | l |} \hline { \text { ISSUE } } & \text { IFRS } & \text { ASPE } \\\hline \text { Lease capitalization criteria-lessee } & & \\\hline \text { Lease capitalization criteria-lessor } & & \\\hline \text { Lessor's classification of finance (capital) leases } & & \\\hline \text { Lessee's discount rate for present value calculations } & & \\\hline\end{array}$$

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Definitions:

Marginal Costs

The additional cost incurred to produce an extra unit of a product or service.

Average Costs

The total costs of production divided by the number of units produced, representing the cost per unit.

Returns To Scale

The change in output resulting from a proportional change in all inputs in the production process; can be increasing, constant, or decreasing.

Increasing Returns To Scale

See Economies of scale.