# Companies Act 1985, Paragraph 5A

Extent: E+W+S

The directors of a company must, in determining how amounts are presented within items in the profit and loss account and balance sheet, have regard to the substance of the reported transaction or arrangement, in accordance with generally accepted accounting principles or practice.

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Source: https://www.legislation.gov.uk/ukpga/1985/6/schedule/8/paragraph/5A (the official version)
Page: https://openlegislation.uk/companies-act-1985/schedule-8/paragraph-5A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.