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ADDRESS: 901 Dulaney Valley Road, Suite 800
Towson, MD 21204
PHONE: 888-481-3500
FOLLOW BLI:
Tax Accounting for InventoriesCOURSE ID: CL4TAI
DESCRIPTION

This course 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.

DESIGNED FOR: Tax professionals in public accounting: seniors, supervisors, and managers Tax professionals within corporate finance or tax departmentsFIELD OF STUDY: TaxesLEVEL: IntermediatePREREQUISITES: Three to five years of tax experienceCOURSE PRODUCER: AICPACREDITS: 4.0OBJECTIVES:
  • 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
HIGHLIGHTS:

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

INSTRUCTOR
-TBD-
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Business Learning Institute - Course Catalog
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