Commentary

D1.843 Generally accepted accounting practice

Corporate tax
Corporate tax | Commentary

D1.843 Generally accepted accounting practice

Corporate tax | Commentary

D1.843 Generally accepted accounting practice

The definition of generally accepted accounting practice is detailed at B2.1021.

Where a company does not prepare its accounts in accordance with generally accepted accounting practice, its profits or losses for the purposes of the derivative contracts legislation will be determined as if its accounts had been prepared in accordance with generally accepted accounting practice. If the company's accounts for a particular accounting period are prepared in accordance with generally accepted accounting practice and such accounts rely to any extent on amounts for an earlier period for which the company did not prepare its accounts in

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