Tax Accounting Methods and Periods   Updated

Every taxpayer must use a consistent accounting method to determine taxable income and must calculate taxable income on the basis of an annual accounting period. This course describes accounting methods such as cash, accrual, installment sales, long-term contracts, and inventory. Accounting periods covered include calendar, fiscal, and 52-53 week years. This course also explains the procedures for requesting a change in accounting method or period. This basic-level course is most beneficial to professionals new to tax accounting methods and accounting periods, including those at staff or entry-level, but it may also benefit experienced professionals with limited exposure to this topic.

By proceeding to the examination, you acknowledge and confirm that you have completed the required coursework.