Guide to the General Index of Financial Information ... - New Learner

ExampleA corporation, whose main source of revenue is consultingfees, would choose Item 8000 – Trade sales of goods andservices, to report this income.However, if the corporation’s main source of income isfrom architectural design, but there is secondary incomefrom consulting, the architectural income would bereported in Item 8000 and the consulting income inItem 8241 – Consulting fees.8230 Other revenuegains on settlement of a debt and miscellaneous revenue8231 Foreign exchange gains/lossesamortization of deferred exchange gains and losses andrealized gains and losses on foreign currency8232 Income/loss of subsidiaries/affiliatesfor corporations that report investment in subsidiarycorporations on the equity basis8233 Income/loss of other divisions8234 Income/loss of joint venturesfor corporations that report investments in jointventures on the equity basis8235 Income/loss of partnershipsfor corporations that report investments in partnershipson the equity basisNoteA loss on foreign exchange, subsidiaries/affiliates, otherdivisions, joint ventures or partnerships shown as anexpense should be reported in the appropriate item(Items 8231 to 8235) as a negative.8236 Realization of deferred revenuesrealization of interest income, realization of instalmentpayments, and realization of service charges8237 Royalty income other than resourceroyalty income or royalty fees from computer programs,copyrights, motion pictures, or patents8238 Alberta royalty tax credits8239 Management and administration fees8240 Telecommunications revenue8241 Consulting fees8242 Subsidies and grantsgovernment assistance and subvention payments (fornon-fishing corporations), federal, provincial, territorial,or municipal grants received by corporations that arenon-profit organizations8243 Sale of by-productssecondary income earned by a garage selling discardedoil or tires to be used for other than the intended use, ora restaurant selling discarded food as pig feed8244 Deposit services8245 Credit services8246 Card services8247 Patronage dividends8248 Insurance recoverieslife insurance proceeds on the death of insuredexecutives8249 Expense recoveries8250 Bad debt recoveries8299 Total revenuerepresents the sum of all revenue amounts and must bereported if there is no farming revenue (see “Validitycheck items” on page 5)Cost of sales8300 Opening inventory8301 Opening inventory – finished goods8302 Opening inventory – raw materials8303 Opening inventory – goods in processopening inventory – work in progress8320 Purchases/cost of materialscost of merchandise sold, fuel and purchased power,manufacturing supplies used, materials, andmerchandise purchasedmay be reported net of discounts earned on purchases8340 Direct wagescommissions, labour, production wages, and supervisionwhen shown in cost of sales8350 Benefits on direct wages8360 Trades and sub-contractscontract labour, custom work, sub-contract labour, andoutside labour8370 Production costs other than resource8400 Resource production costsgas processing, oil and gas operating expenses, oil andgas production, milling, smelting, and refining8401 Pipeline operations8402 Drilling8403 Site restoration costsfuture removal costs8404 Gross overriding royalty8405 Freehold royalties8406 Other producing properties rentalfreehold lease rentals and freehold delay rentals8407 Prospect/geologicaldigital processing, geochemical work, geophysical work,gravity meters, magnetic playbacks, seismographs,staking, and velocity surveys8408 Well operating, fuel and equipment8409 Well abandonment and dry holes8410 Other lease rentals8411 Exploration expensesaerial surveys8412 Development expensesstripping costs8435 Crown charges8436 Crown royalties8437 Crown lease rentals8438 Freehold mineral tax8439 Mining taxes8440 Oil sand leases8441 Saskatchewan resource surcharge8450 Other direct costs8451 Equipment hire and operationwww.cra.gc.ca 19