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Guidance on Accounting Method Changes, by Lorman

Guidance on Accounting Method Changes is brought to you by Lorman

Make sure you are up to date on the latest revisions to the tax accounting method change procedures.

Changes to the tax laws can make accounting method changes desirable for competitive businesses. Trying to comply with regulations is essential to a successful accounting method change. Since changes in accounting methods happen infrequently and have complex reporting requirements, knowing the proper procedures can mean the difference between a smooth accounting change and one wrought with issues and potential failure. This presentation will help you understand when you have a change in accounting methods. Additionally, you will learn the necessary procedures to follow to comply with reporting the change.

Learning Objectives

  • You will be able to recognize small business criteria for changes in accounting methods.
  • You will be able to recognize the proper way to make non-automatic changes in accounting methods.
  • You will be able to identify automatic changes in accounting methods.
  • You will be able to identify changes in voluntary and involuntary changes

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