Course Description: This course introduces you to the basic concepts and applications of income tax accounting methods. It will help you to understand what is meant by an accounting method for tax purposes and includes an exploration of the basic permissible methods, using examples to illustrate how the concepts apply in real-world situations. Note this course does not cover the basics of financial accounting, nor does it assume any background in financial accounting. 

Course Level: Basic 

Course Prerequisites: None 

Delivery Method: Self-study

At the end of this course, you will be able to: 

• Understand what the term “method of accounting” means; 
• Identify the premise of cash and accrual accounting; Understand what is meant by a “change” in accounting method; 
• Distinguish between what is and is not included in a change of accounting methods; 
• Understand the permissible use of the cash method of accounting; 
• Identify when the accrual method of accounting is required; and 
• Understand the alternative methods for accounting for long-term contracts.

CPE

2

CLE

N/A