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Accounting Methods and Periods - Tax Staff Essentials

Author/Moderator: Joseph Walsh, BS, MBA, JD, LL.M.
Publisher: AICPA
Availability: Online Access
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This CPE course provides you 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. The course also discusses accounting periods, and considerations for changes in the accounting period of an entity. In addition, this resource provides 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.

Key Topics:

  • 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

Learning Objectives
This course will prepare you 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

Prerequisite: None.

Advance Preparation:  None

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Find out more information on the Tax Section.

NASBA Field of Study: Taxes
Level: Intermediate
Recommended CPE Credit: 2
Accounting Methods and Periods - Tax Staff Essentials
CPE On-Demand , 2016
Product# 157692
Availability: Online Access 1 Year
For registered users only
Regular:$69.00
AICPA Member:$59.00
Your Price:$69.00
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