Inventory Costing and 471 - American Institute of CPAs
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In this session you will revisit things you wish you never skipped over in college. Learn about full absorption cost accounting, cost accounting techniques, the application of code section 471 and what challenges exist in standing up to IRS scrutiny.
Learning Objectives:
Identify cost accounting principles and their intersection with tax
Understand methods of cost accounting
Learn about full absorption accounting and why it is used