Practice Problem 6 Rent-Away is a company that matches homeowners with properties available for shortterm rental with individuals looking for an alternative to hotels. The company has been profitable and has experienced strong growth each year. Now the shareholders are considering taking Rent-Away public. Required: a) Which accounting framework will Rent-Away be required to report under as a publicly traded entity? b) Which accounting framework(s) can Rent-Away use now, as a private company? c) What are some of the advantages of using ASPE rather than IFRS? d) Which business reporting system is used to communicate financial information globally? What are the advantages of using this system? e) One of the shareholders of Rent-Away was an early investor in bitcoin. The investor thinks that Rent-Away should consider accepting cryptocurrencies as a method of payment on the Rent-Away website. If Rent-Away goes public, what are the potential implications on the financial statements of using cryptocurrencies?