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Tax Accounting for Inventories Logo aicpa

  $99.00 - 129.00 |   03 May 2018 |   14:00-16:00 |   CPE: 2.0 |   AICPA |   Taxes |   AICPA Store

This webcast is part of the Tax Staff Essentials program.

This webcast details methods of valuing inventory, including special rules for dealing with LIFO inventory. Effect of shrinkage and market will also be discussed and participants will learn about proposals to prohibit LCM and subnormal goods methods that include wash-sale goods. Course materials will include the impact of the Tax Cuts and Jobs Act of 2017 (TCJA) tax reform law.

Topics Discussed

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

Learning Objectives

When you complete this webcast, you will be able to:

  • Explain the allowable inventory valuation methods for tax purposes and how to choose the most beneficial in various scenarios
  • Estimate the tax value of ending inventory under the chosen method
  • Calculate the resulting tax adjustment to book income as applicable

Who Should Attend This Event

  • Tax professionals in public accounting: seniors, supervisors, and managers
  • Tax professionals
Topics covered:
  • Management accounting: Technical: Tax strategy, planning & compliance: Tax accounting, Intermediate
  • Tax: Technical: C corporation income taxation : Deductions, Intermediate
  • Tax: Technical: Tax accounting: Methods, Intermediate
  • Tax: Technical: Tax accounting: Period selection, Intermediate