Mobile Edition


Accounting Methods and Periods (AIAMP07)

 
Date:Friday, December 22, 2017
Time:9:00 AM - 11:00AM
(Registration at 8:30 AM)
Facility:Webcast or Webinar, Online
CPE Credit:2.0 Technical Business
Vendor:AICPA
Course Level:Intermediate
Early Bird Price:$99.00 FICPA Members, $129.00 Non-Members

Description:

This course provides participants with an overview of the various factors considered for the determination of the proper accounting method (such as cash, accrual) and provides detailed examples of court rulings and client examples (for specific industries) involving each. Then, the course discusses accounting periods, and considerations for changes in the accounting period of an entity. Lastly, there is a case study and example tax forms to highlight how to identify which IRS Revenue Procedures are applicable to a given client situation, as well as how and when to prepare the Form 3115.



Objectives:

LEARNING OBJECTIVES When you complete this course you will be able to:

 Recognize when the use of the cash method is appropriate

 Understand and apply the basic rules for a change in accounting method

 Choose a proper accounting period under the federal tax rules

 Identify which IRS Revenue Procedure(s) provides the guidance for a given scenario for a taxpayer to change their accounting method with the IRS

 Prepare the Federal Form 3115 - Application for Change in

 Accounting Method and understand how and when this form should be filed by the taxpayer.



Major Topics:

TOPICS DISCUSSED

 What constitutes a method

 Cash versus accrual

 Automatic changes

 Changes needing permission

 When and how to change a method

 How to account for the change in method



Who Should Attend:
Tax professionals in public accounting and within within corporate finance or tax departments

Prerequisite:
Three to five years of tax experience

Session/Options

If listed below, select the appropriate sessions or options to continue with your purchase.

Registration Status: CLOSED - Online registration for this course is now closed. Please contact the Member Service Center at (800) 342-3197 if you wish to inquire about registering.