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Tag: Interpretation

If, and only if…

The International Accounting Standards Board (IASB) sometimes writes requirements in the form ‘if A is the case, an entity shall do B’. But in other places it writes such requirements in the form ‘if, and only if, A is the case, an entity shall do B’. Are those two forms intended to have different meanings?… Continue reading If, and only if…

Published January 25, 2022
Categorized as Uncategorized Tagged Drafting, History, IASC, Interpretation

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Recent Comments

  1. Peter Clark on Myths about Deferred tax

    Thanks, Serge. I wasn’t precise enough in my wording. For instance, let’s take Example 6 (in the discussion of myth…

  2. Serge Pattyn on Myths about Deferred tax

    Thanks Peter for these helpful insights. Just one thing. I sometimes disagree when you say that company A or B…

  3. Peter Clark on Myths about Deferred tax

    I agree. In example 6, the “extra tax” of £90 at 31 December 20X3 is caused by the fact that…

  4. Peter Clark on Myths about Deferred tax

    I agree with you that the purpose of recognising deferred tax is not to predict total future tax payments. You…

  5. Daisy Yang on Myths about Deferred tax

    In Example 6 where illustrative disclosure is provided, I like the statement about how much extra tax Entity A will…

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