[Verse 1]
In the world of ASPE standards, we keep it clean and clear
Balance sheet and income statement, cash flows we revere
No other comprehensive income cluttering our way
Simple presentation formats guide us every day
[Chorus]
A-S-P-E keeps it simple, three statements that we need
Balance sheet shows where we stand, income shows our feed
Cash flows tell the story of money in and out
No OCI confusion, that's what ASPE's all about
[Verse 2]
Balance sheet arrangement starts with assets on top
Current then non-current, that's where liquidity stops
Liabilities follow next, current debts come first
Then equity completes the tale, from surplus to the worst
[Chorus]
A-S-P-E keeps it simple, three statements that we need
Balance sheet shows where we stand, income shows our feed
Cash flows tell the story of money in and out
No OCI confusion, that's what ASPE's all about
[Verse 3]
Income statement structure flows from revenue down
Operating expenses next, then other gains are found
Net income at the bottom, single line of truth
No comprehensive income, keeping proof so smooth
[Bridge]
Cash flow presentation, three activities we track
Operating, investing, financing, keeping facts on track
Direct or indirect method, either way will do
ASPE gives us flexibility in the format we pursue
[Chorus]
A-S-P-E keeps it simple, three statements that we need
Balance sheet shows where we stand, income shows our feed
Cash flows tell the story of money in and out
No OCI confusion, that's what ASPE's all about
[Outro]
Private enterprises choose this path of clarity
Three statements tell the story with simplified sincerity
ASPE financial presentation, streamlined and complete
Making accounting standards easy and concrete