On August, 15, 2020, the Internal Revenue Service (IRS) issued PLR 202033002, in which it addressed whether cost of removal (COR) is “protected” by the normalization rules of section 168(i)(9). COR is ...

The net price method is an accounting method in which the net price of a purchase is recorded after any discounts. The net price method works as an alternative to the gross price method, which records ...

"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.

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 ...

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 ...