Full Cost (FC) Method: What it Means, How it Works

Full cost (FC) accounting allows companies to capitalize all operating expenses related to locating new oil and gas reserves, regardless of the outcome.
Knoxville News Sentinel

Broader cash accounting method eligibility is helping contractors | Jimmy Rodefer

Many contractors can build better cash flow using accounting options that until passage of the Tax Cuts and Jobs Act (TCJA) were unavailable to them. Nevertheless, there remains a surprising number of ...
Accounting Today

Companies take a new look at net investment hedging after FASB standard

The new hedge accounting standard is encouraging more companies to re-evaluate how they are using net investment hedging for risk management, according to a new report from Deloitte. Net investment ...
아시아경제

Kakao Faces Financial Supervisory Service's Scrutiny... Controversy Over 'Gross vs. Net' Accounting Treatment

"The accounting industry's debate over 'gross method vs net method' in revenue recognition stems from differing views on accounting treatment, and perspectives vary depending on interpretation.
JD Supra

Rev. Proc. 2021-26 provides accounting method change procedures for CFCs seeking to use the alternative depreciation system

Recently released Revenue Procedure 2021-26 (the Revenue Procedure) provides taxpayers with guidance regarding accounting method changes made on behalf of foreign corporations. The Revenue Procedure: ...
JD Supra

A Timely Update: The IRS and Treasury release Rev. Proc. 2022-14 updating list of automatic accounting method changes

Section 446(e) requires a taxpayer to obtain IRS consent prior to changing its accounting method. A change in method of accounting may include either a change in an overall plan of accounting for ...