Eureka Correspondence

Big four accounting, clarifying commodity calls, and biotech risks.

The article Three weak spots in the big four discusses the accounting treatment of computer software costs. My understanding of the Tax Act is that their treatment is in accordance with the Act. The article clearly implies that to not write of the software costs in the year of purchase is a little trick designed to improve the current profitability of the bank. However, as this is contrary to the provisions of the Income Tax Act I don’t see that they have any choice - nor would they have changed their practice in recent history.

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