Carla Vista Ltd. established a SARs program on January 1, 2020, which entitles executives to receive cash at the date of exercise (any time in the next three years) for the difference between the shares fair value and the pre-established price of $20 on 11,600 SARs. As at December 31, 2020, the shares fair value is $33 per share, the SARs fair value is $226,200, and the executives have not exercised their rights yet. The service period runs for two years (2020 to 2021), and at December 31, 2020, the service period is considered 50% complete.

aRecord compensation expense for 2020 assuming that Carla Vista follows IFRS.

b) Record compensation expense for 2020 assuming that Carla Vista follows ASPE.