MA Hydro (MH) is a private company that owns and operates all of Ontario~ electricity transmission systems. It is deciding whether it should follow IFRS or ASPE in the upcoming year. The company must choose now and is looking to do an analysis of the impact of following IFRS or ASPE. Each year, MH must prepare and submit audited financial statements to the government.
The company generates and sells electricity to residential and commercial customers. They are committed to the following: