This site uses cookies to store information on your computer. Some are essential to make our site work; others help us improve the user experience. By using the site, you consent to the placement of these cookies. Read our privacy policy to learn more.


Tax Accounting for Inventories Logo aicpa

  Free |   AICPA |   03 Jul 2018 |   Taxes |   AICPA Store
Who Will Benefit?
  • Tax professionals in public accounting: seniors, supervisors, and managers
  • Tax professionals
Key Topics
  • 263A 2.0
  • FIFO, LIFO, average
  • Lower of cost or market
Learning Objectives
  • 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

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.

Important Information on Your CPE Credit

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