Part 8Intangible fixed assets
Chapter 15Adjustments on change of accounting policy
Introductory
871Introduction to Chapter
1
This Chapter applies if—
a
there is a change of accounting policy in drawing up a company's accounts from one period of account to the next, and
b
the approach in each of those periods accords with the law and practice applicable in relation to that period.
2
In this Chapter—
a
the first of those periods of account is referred to as “the earlier period”, and
b
the next is referred to as “the later period”.
3
This Chapter applies, in particular, if—
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.