The standard setters identify three approaches to accounting for the impairment of financial asset investments: an incurred

Question:

The standard setters identify three approaches to accounting for the impairment of financial asset investments: an incurred loss model, an expected loss model, and a fair value model. Identify which models are required to be used by enterprises applying
(a) ASPE,
(b) IAS 39, and
(c) IFRS 9. If more than one model is used under each of (a), (b), and (c), identify when each model would be applied.