Send To Printer | Close Window Indiana University Kelley School of Business Indiana University-Purdue University Indianapolis A556 Timing Issues in Taxation Syllabus Summer 2009 1. Course Description and Objectives At the conclusion of this course you will be able to: • Explain which taxpayers may use the cash method of accounting and who must use the accrual method • Determine when income and expenses are reported using the cash and accrual methods of accounting • Understand the tax consequences of changing from one method of accounting to another • Explain the tax procedures for these accounting method changes • Explain tax provisions for installment reporting and accounting for long-term contracts • Explain federal tax procedures for adopting and changing an accounting period • Understand time value of money issues (original issue discount) • Explain methods of accounting for inventory, including LIFO • Understand the basics of the uniform capitalization rules Prerequisite: Basic course in taxation (A328 or A515 or equivalent)
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