Part 5Loan Relationships
Chapter 3The credits and debits to be brought into account: general
Amounts recognised in determining a company's profit or loss
308Amounts recognised in determining a company's profit or loss
(1)
References in this Part to an amount recognised in determining a company's profit or loss for a period are references to an amount F1that is recognised in the company's accounts for the period as an item of profit or loss.
F2(1A)
The reference in subsection (1) to an amount recognised in the company's accounts for the period as an item of profit or loss includes a reference to an amount that—
(a)
was previously recognised as an item of other comprehensive income, and
(b)
is transferred to become an item of profit or loss in determining the company's profit or loss for the period.
(1B)
In subsections (1) and (1A) “item of profit or loss” and “item of other comprehensive income” each has the meaning that it has for accounting purposes.
F3(2)
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F3(3)
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