All subsequent references are to the COAP Regulations unless otherwise stated. The COAP Regulations generally provide that the impact of changes in accounting practice may be spread over a ten year period.

Under Reg. 4, the rules apply to any debits or credits which represent an adjustment arising from a change in accounting policy which must be brought into account in accordance with

(1)CTA 2009, s. 308 – amounts recognised in profit and loss, including amounts previously recognised in other comprehensive income;

(2)CTA 2009, s. 316 - a change of basis of accounting involving change of value of a loan relationship;

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