Election: Difference between revisions
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imported>Doug Williamson (Create page. Sources: linked pages.) |
imported>Doug Williamson (Link with Determination page.) |
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== See also == | == See also == | ||
* [[Claims and elections]] | * [[Claims and elections]] | ||
* [[Determination]] | |||
* [[FVTOCI]] | * [[FVTOCI]] | ||
* [[Financial reporting]] | * [[Financial reporting]] | ||
Revision as of 12:45, 2 May 2018
1. Tax.
A formal choice communicated by a taxpayer to a tax authority, to use a particular (beneficial) tax rule.
2. Financial reporting.
A choice about an accounting treatment, which must be formally evidenced and will not normally be readily reversible.
For example, an election under IFRS 9 to classify certain items as Fair value through other comprehensive income (FVTOCI).
