Every taxpayer must use a consistent accounting method to figure 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. It also includes the procedures to be used when requesting a change in accounting method or period. This basic level course is most beneficial to professionals new to tax accounting methods and periods who may be at staff or entry-level but 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.