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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › accounting period(AP)
Sir as per my study text an accounting period starts just as soon as as “company starts to trade(or receives income chargegable to CT)” so with regard to this definition i have a doubt. even if the company receives non-operating income, is it considered to have become eligible for CT?? or only operating income?
Noah you need to stop posing “but what if” questions and focus on being good at applying the core issues that are in your notes and lectures – avoid distractions!
If a company has taxable income it will need to prepare a CT computation whatever form it takes.