PART 4AMENDMENT OF THE 2008 REGULATIONS
Amendment of Part 2 of Schedule 1 (accounting principles and rules)11
In Section B of Part 2 of Schedule 1 to the 2008 Regulations (historical cost accounting rules)—
a
in paragraph 19 (provisions for diminution in the value of assets), in sub-paragraph (1), after “set out in” insert “
Section B of
”
;
b
in paragraph 21 (development costs), for sub-paragraph (1) substitute—
1
Development costs may only in special circumstances be included in “other intangible assets” under “fixed assets” in the balance sheet formats set out in Section B of Part 1 of this Schedule.
c
in paragraph 26 (assets included at a fixed amount), for sub-paragraph (1) substitute—
1
Subject to sub-paragraph (2), the following may be included at a fixed quantity and value in the balance sheet formats set out in Section B of Part 1 of this Schedule—
a
assets which fall to be included amongst the fixed assets of a company under the item “intangible assets”, and
b
raw materials and consumables within the item “stocks”.
d
in paragraph 28 (purchase price or production cost of stocks and fungible assets), in sub-paragraph (1)(a), after “assets which” insert “
, by virtue of regulation 3(1) and Section B of Part 1 of this Schedule,
”
.