Chapter 3 Trade profits: basic rules

United Kingdom

1. 46Generally accepted accounting practice
2. 47Losses calculated on same basis as profits
3. 48Receipts and expenses
4. 49Items treated as receipts and expenses
5. 49AMoney's worth
6. 50Animals kept for trade purposes
7. 51Relationship between rules prohibiting and allowing deductions
8. 52Apportionment etc of profits and losses to accounting period