IntroductionU.K.
[F1116A(1)This Part of this Schedule applies where—
(a)there is a change of accounting policy in drawing up a company's accounts from one period of account (“the earlier period”) to the next (“the later period”), and
(b)the approach in each of those periods accords with the law and practice applicable in relation to that period.
(2)It applies, in particular, where—
(a)the company prepares accounts for the earlier period in accordance with UK generally accepted accounting practice and for the later period in accordance with international accounting standards, or
(b)the company prepares accounts for the earlier period in accordance with international accounting standards and for the later period in accordance with UK generally accepted accounting practice.]
Textual Amendments
F1Sch. 29 Pt. 13A substituted for Sch. 29 para. 116A (7.4.2005) by Finance Act 2005 (c. 7), Sch. 4 para. 45