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 ...

Not unlike the last minute procedural guidance released at the end of last year addressing Section 174, on December 22, 2023, the Department of the Treasury (Treasury) and the Internal Revenue Service ...

The Internal Revenue Service is proposing procedures for how a taxpayer can ask for automatic consent to change an accounting method in preparation for the Financial Accounting Standards Board’s new ...

The Internal Revenue Service has released Rev. Proc. 2025-23, which updates the list of automatic procedures for taxpayer-initiated requests for changes in methods of accounting. Processing Content An ...

In Rev. Proc. 2023-24, the IRS on Thursday provided a comprehensive, updated list of changes in tax accounting methods to which the automatic change procedures in Rev. Proc. 2015-13, as subsequently ...

Learn the differences between the percentage of completion and completed contract methods. Discover how each impacts revenue ...

On Wednesday, December 23, Treasury and the IRS released final regulations 1 under sections 263A, 448, 460, and 471 of the Internal Revenue Code (Code) to implement statutory changes made by the Tax ...

The Financial Accounting Standards Board sets national accounting standards, called Generally Accepted Accounting Principles, for publicly traded companies in the United States. GAAP standards provide ...

Learn what every business owner needs to know about financial accounting, accounting software and financial statements.

In 2009, the Financial Accounting Standards Board released Statement 164, which created new accounting rules for mergers and acquisitions among not-for-profit entities. The carryover method is one of ...