Webcast: Accounting Methods and Periods (XAAMP217)
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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

 Export to Your Calendar 8/4/2017
When: 08/04/2017
11:00 AM until 1:00 PM
Where: Webcast
AICPA
1371224:F6F3C61904D1FE651CDD6472D1B71AA0
United States
Presenter: Michael Frost


Online registration is available until: 8/2/2017
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Acronym XAAMP217
CPE 2 hours
Vendor AICPA
Category
Taxes
Level Intermediate
Prerequisite Three to five years of tax experience
Adv Prep None
Yellow Book? No
Designed for Tax professionals in public accounting and within within corporate finance or tax departments
Registration
Member $99
CPA Non-Member $129

The Member rate applies to LCPA members, other state society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.

Course 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.

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

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.