Houston Chronicle

Accounting Cutoff Procedures

The end of any accounting period is chaotic without the right procedures in place to ensure everyone has the right information and reports. Establishing set procedures for period-ending reporting ...
Houston Chronicle

Accounting & Auditing Procedures

Accounting and auditing procedures are the steps that accountants and auditors follow when performing their respective tasks. Although accounting is about recording business transactions into ...

[Bookkeeping and Financial Statement Study Record: Weeks 4-5] Connecting Calculations and Theory, Starting to See the Background of Accounting Procedures

Learning theory has given me a slightly different perspective on the accounting procedures I have been solving as calculation ...
JD Supra

IRS issues simplified procedures for insurance companies to change methods of accounting to comply with amended Section 846

The Internal Revenue Service (IRS) recently released two revenue procedures that relate to the implementation of accounting method changes as a result of the revisions to Section 846 of the Internal ...
Accounting Today

IRS Clarifies Procedures for Changing Accounting Method

Revenue Procedure 2015-33 clarifies several items in another revenue procedure issued earlier this year, Rev. Proc. 2015-13, regarding certain procedures for changing a method of accounting.
JournalofAccountancy

New Accounting Methods Subject to Automatic Change Procedures

The IRS has issued new guidance on automatic accounting method changes. Revenue Procedure 2009-39 provides certain additions, modifications and clarifications to Revenue Procedures 2008-52 and 97-27 ...
Investopedia

Understanding Accounting Research Bulletins (ARBs)

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...
Accounting Today

First, do no harm: Another elective procedure on goodwill accounting is too risky for investor health

As the Financial Accounting Standards Board considers additional interventions in the way public companies account for goodwill, they would do well to remember one of Hippocrates’ maxims for ...
JournalofAccountancy

Automatic accounting method change procedures updated

The IRS on Thursday updated the list of accounting method changes to which automatic change procedures apply (Rev. Proc. 2021-34). Generally, unless otherwise provided, a taxpayer must secure the ...
unr.edu

Cost Share Accounting Procedures

During the proposal stage, if cost share is included in the proposal, a Cost Share form (SP-11) must be uploaded to the InfoEd proposal record and submitted to Sponsored Projects along with the ...
JD Supra

Rev. Proc. 2021-26 provides accounting method change procedures for CFCs seeking to use the alternative depreciation system

Recently released Revenue Procedure 2021-26 (the Revenue Procedure) provides taxpayers with guidance regarding accounting method changes made on behalf of foreign corporations. The Revenue Procedure: ...