The IRS has issued new guidance on automatic accounting method changes. Revenue Procedure 2009-39 provides certain additions, modifications and clarifications to Revenue Procedures 2008-52 and 97-27 ...

The October A&A Focus webcast also examined considerations of using a cash-basis accounting method and considerations for ...

James Chen, CMT is an expert trader, investment adviser, and global market strategist. David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of financial accounting, ...

The IRS allows you to calculate your tax bill using one of two tax accounting methods. The more common of the two methods for individual taxpayers is the cash method. However, most businesses prepare ...

Businesses in the Unites States do their accounting under one of two methods: cash and accrual. The difference lies largely in when a business recognizes the revenue it earns and expenses it incurs.

The American Institute of CPAs has sent a set of recommendations to the Internal Revenue Service about accounting methods for small-business taxpayers and how to determine whether a taxpayer qualifies ...

Many contractors can build better cash flow using accounting options that until passage of the Tax Cuts and Jobs Act (TCJA) were unavailable to them. Nevertheless, there remains a surprising number of ...

The Internal Revenue Service has issued new rules for obtaining its consent for a change in the method of accounting. Revenue Procedure 2011-14 provides the current procedures for obtaining automatic ...

In general, taxable income is required to be computed under the method of accounting used by a taxpayer in maintaining its books, except as otherwise required by the Internal Revenue Code (IRC or Code ...

The Financial Accounting Standards Board wants to allow companies to use a certain accounting method for a broader range of tax-credit investments, enabling them to record similar spending in a ...