Accounting Methods: Overview of Establishing, Implementing, and Changing Methods
Sec. 451 Revenue Recognition, Sec. 461 Taxable Year of Deduction, Sec. 267 Matching Rules, and Special Methods
A live 110-minute CPE video webinar with interactive Q&A
This webinar will explain how accounting methods are adopted or changed, discuss avoiding frequently encountered missteps, and provide scenarios where accounting method choices can be used to lower overall tax liability.
Outline
- Technical overview of accounting methods
- General framework for tax treatment
- General rules for overall accounting methods
- General rules for revenue recognition (Section 451)
- General rules for expense recognition (Section 461)
- Special accounting methods
- Capitalization provisions
- Procedural considerations of accounting methods
- How is a method established?
- Adopting a new method
- Other considerations
- Hot Topics in Accounting Methods
- Overall method changes
- Revenue recognition opportunities
- Prepaid payment liabilities
- Current landscape
Benefits
The panel will review these and other key issues:
- How do accounting methods play a role tax strategy?
- How to implement a change in accounting method
- What should taxpayers and practitioners consider during the planning and implementation process?
Faculty
Cindy Houser
Principal
CliftonLarsonAllen
Ms. Houser is Principal at CliftonLarsonAllen (CLA).
| Read MoreMs. Houser is Principal at CliftonLarsonAllen (CLA).
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Caitlin Slezak, CPA, MST
Director
Baker Tilly US
Ms. Slezak is the firm leader of Baker Tilly’s tax accounting methods practice. She specializes in... | Read More
Ms. Slezak is the firm leader of Baker Tilly’s tax accounting methods practice. She specializes in overall cash tax planning for businesses and technical tax accounting methods including inventory accounting (LIFO and UNICAP), revenue and expense recognition strategies and permanent deduction planning. Ms. Slezak provides value to clients by monetizing DTAs, minimizing permanent add-backs and securing IRS audit protection related to accounting method changes. She has published numerous articles and thought leadership as it relates to federal tax planning and compliance. Ms. Slezak is a recognized leader in her field on a national level. She started her career at a Big Four firm focusing on tax accounting methods and R&D credits. Most recently, Ms. Slezak was the co-leader of a middle market firm’s accounting methods practice.
CloseCPE credit processing is available for an additional fee of $39.
CPE processing must be ordered prior to the event.
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NASBA details.
