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Tax Accounting for Inventories

Description

This course details methods of valuing inventory, including special rules for dealing with LIFO inventory. The instructor will also discuss the effect of shrinkage and market. Additionally, you will learn about
proposals to prohibit LCM and subnormal goods methods that include wash-sale goods.

Topics Discussed:
• 263A 2.0
• FIFO, LIFO, average
• Lower of cost or market

Learning Objectives
  1. Explain the allowable inventory valuation methods for tax purposes and how to choose the most beneficial in various scenarios
  2. Estimate the tax value of ending inventory under the chosen method
  3. Calculate the resulting tax adjustment to book income as applicable
Major Topics
  1. 263A 2.0
  2. FIFO, LIFO, average
  3. Lower of cost or market
Provider
AICPA
Course Level
Intermediate
Professional Area of Focus
Tax
CPE Field of Study
Taxes
2
Who Should Attend

Tax professionals in public accounting: seniors, supervisors, and managers
Instructor(s)
William Harden
Prerequisites
Three to five years of tax experience.
Location
Online
Event Information
When
Dec 28, 2016
1:00 pm - 3:00 pm EST
Location
Online
Total CPE Credits
2
Format
Webcast Replay

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$99.00

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$129.00
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Tax Accounting for Inventories

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