Part 16Companies with investment business
Chapter 2Management expenses
Accounting period to which expenses are referable
1226Accounts not conforming with GAAP
1
Subsection (2) applies if—
a
a company incurs expenses of management, and
b
the company draws up accounts for a particular period of account, and
c
the expenses of management would have been debited in those accounts if they had been treated in those accounts in accordance with generally accepted accounting practice, but
d
they are not debited in those accounts in accordance with generally accepted accounting practice.
2
The expenses of management are referable to the accounting period to which they would have been referable under section 1225(1) or (2) if they had been debited in those accounts in accordance with generally accepted accounting practice.