Accounting Methods
Accounting Methods
Our accounting methods professionals specialize in identifying, substantiating and documenting federal accounting method changes. By ascertaining and employing the most favorable methods of accounting, we can accelerate deductions and defer revenues to significantly increase a company’s cash flow.
Regardless of a company’s financial and operating status, tax planning can provide a variety of strategies to help companies preserve, acquire or maximize cash. Implementing an accounting methods change is one such strategy.
We help not only existing businesses establish beneficial tax accounting methods, but also startup, acquired and reorganized companies adopt efficient methods as they begin anew.
Our accounting method services:
Income
- ASC 606 revenue recognition tax implementations
- Tax reform revenue recognition and small business simplification amendments
- Advance payments (gift cards, memberships, subscriptions, goods, services)
- Long-term contracts
Deductions
- Self-insured medical IBNR
- Accrued bonuses
- Accrued professional fees
- Software development costs
- Prepaid expenses
- Bad debt expenses
- Sales incentives, rebates, allowances
- Depreciation
- Inventory UNICAP, reserves/write-downs
- Section 467 rental expenses
