- NY Credits : 9.0
- TX Credits : 9.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 9.0
Uniform Capitalization Rules
The uniform capitalization rules of IRC Section 263A take precedence over financial accounting principles. This course addresses when the rules apply, what costs must be capitalized, how costs are allocated to assets, and self-constructed assets. Attention is paid to capitalization of interest. Impacts of the Tax Cuts and Jobs Act of 2017 on UNICAP rules are also discussed, where applicable.
Upon successful completion of this course, the user should be able to:
recognize what the process of uniform capitalization involves, and the types of costs capitalized,
identify cost allocation techniques, and simplified methods of allocations and allocations by resellers,
identify interest and production expenditures, and
recognize changes in UNICAP methods.