The Internal Revenue Code provides great flexibility for taxpayers selecting different accounting methods. These can vary from overall accounting methods (cash v. accrual) to smaller things like how to account for inventory. In this practical webinar, you will learn what accounting methods are and how they can have a major impact on income. Among other things, you will learn how to establish an accounting method and how to change one.
Upon course completion, you will be able to:
- Establish an accounting method
- Determine different accounting methods that are available
- Assess the impact of major accounting method changes
- Revise accounting methods
- Determine changes under the Tax Cuts and Jobs Act.
Field of Study: Accounting
Program Level: Intermediate
Credit Type: Group Internet-Based for the Live Program.