The accounting standard is concerned with making provisions in accounts for expenditure to be incurred in the future. It states when such provisions may be made, and it states when they may not be made. The accounting standard represents a major change to previous rules applying in the area. In consequence accounts being finalised in 1999 may well include a reversal or restatement of old provisions, and new provisions being made on a basis quite different to that in the past. The answer is uncertain.
Corporation tax is charged on a company's profits for an accounting period.
They are largely based on the profits disclosed in accounts of the company. The accounting profit figure has to be adjusted in accordance with various rules of tax law. Some of these are explicitly stated in legislation. Others are derived from case law which in the past decided that one or other of accounting policies were not appropriate for computing taxable profits. In Ireland it is not always certain whether a particular modern accounting standard will be taken into account in determining taxable profits.