Deferred payment credit and Election: Difference between pages

Latest 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).

@@ Line 1: / Line 1: @@
-''Credit - retail - consumer credit.''
+. ''Tax''.
-Deferred payment credit is a form of consumer credit in which goods are supplied on "buy-now-pay-later" terms.
+A formal choice communicated by a taxpayer to a tax authority, to use a particular (beneficial) tax rule.
+. ''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).
 == See also ==
-* [[Financial Conduct Authority]]
+* [[Claims and elections]]
-* [[Prime]]
+* [[FVTOCI]]
-* [[Retail]]
+* [[Financial reporting]]
-* [[Sub-prime lending]]
+* [[IFRS 9]]
+* [[IFRS: issues for the treasurer]]
+* [[Tax computation]]
 [[Category:Accounting,_tax_and_regulation]]
-[[Category:The_business_context]]
 [[Category:Compliance_and_audit]]
-[[Category:Ethics]]
-[[Category:Identify_and_assess_risks]]
-[[Category:Manage_risks]]
-[[Category:Risk_frameworks]]
-[[Category:Risk_reporting]]