Commentary on Sections Overview Chapter 3: Credits and debits to be brought into account: general Section 594: Overview of Chapter
1600.This section describes the purpose and content of the Chapter. It is new.
1601.The Chapter provides in particular for the application of generally accepted accounting practice in determining the profits and losses to be brought into account under this Part. In some cases, it provides for departure from generally accepted accounting practice for that purpose. Chapter 4 contains provisions about credits and debits for a number of special situations.