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The objectives of this study are to analyse the knowledge on the activity based costing (ABC) and the balanced scorecard (BSC) and their association with the characteristics of financial managers; and to analyse the use of these two methods. The data were collected through a survey conducted to financial managers of companies ranked as the 100 best to work for in Portugal, and the response rate was 23%. As this study's main contributions, we identified the following: the ABC's utilisation rate is higher than the one found in other types of companies; the BSC's rate of knowledge is higher than the one reported by studies already carried out in other types of companies, which also suggests the existence of internal training mechanisms that allow those in charge to update their knowledge on the most innovative management accounting methods.

There has been a lot of excitement surrounding the global electric vehicle (EV) market in the last decade. The emergence of companies such as Tesla in the United States and [...]

The cash method can yield tax savings by deferring the recognition of income until cash is received.The law known as the Tax Cuts and Jobs Act (TCJA),P.L. 115-97, which generally [...]

Revenue Procedure 2024-34 expands the waiver of the eligibility rules to accounting method changes. [ABSTRACT FROM AUTHOR]

With the development of artificial intelligence technology in various fields, the traditional accounting method is no longer applicable to the personalized development of e-commerce industry; Therefore, it is essential to improve the accounting method and construct a personalized recommendation model for e-commerce. Based on this background, this study firstly reconstructs the steps of accounting element recognition in the traditional accounting system and constructs an automated accounting recognition mechanism using BP neural network algorithm, aiming to improve the accuracy and efficiency of accounting element recognition; Secondly, a personalized e-commerce recommendation model based on multiple intelligence is built, which uses intelligent Q-learning algorithm to optimize the recommendation module, aiming to improve the accuracy of personalized recommendation. By comparing the performance of different accounting models under different personalized e-commerce systems, the accounting model proposed in this paper can predict the accounting entries well under the three-layer BP neural network, and the error between the maximum predicted value and the actual value is 0.23%. The recommendation model proposed in the study outperforms the traditional recommendation model and the recommendation model under collaborative filtering algorithm in predicting customers' personal preferences, whose predicted value is closer to the real situation. In summary, both the accounting method and the personalized recommendation model for e-commerce proposed in this study can achieve better application results, thus providing a new idea for the development of the e-commerce industry.

EXECUTIVE SUMMARY * The IRS and Treasury have issued proposed regulations under Secs. 381(c)(4) and (c)(5) for determining and changing methods of accounting following certain corporate transactions. * Similar to [...]

Copyright of Técnica Contable y Financiera is the property of Wolters Kluwer Espana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Purpose: This study aims to introduce a predictive homogenization model incorporating electrical percolation considerations to forecast the electrical characteristics of unidirectional carbon-epoxy laminate composites. Design/methodology/approach: This study presents a method for calculating the electrical conductivity tensor for various ply arrangement patterns to elucidate phenomena occurring around the interfaces between plies. These interface models are then integrated into a three-dimensional (3D) magneto-thermal model using the finite element method. A comparative study is conducted between different approaches, emphasizing the advantages of the new model through experimental measurements. Findings: This research facilitates the innovative integration of electrical percolation considerations, resulting in substantial improvement in the prediction of electrical properties of composites. The validity of this improvement is established through comprehensive validation against existing approaches and experimentation. Research limitations/implications: The study primarily focuses on unidirectional carbon-epoxy laminate composites. Further research is needed to extend the model's applicability to other composite materials and configurations. Originality/value: The proposed model offers a significant improvement in predicting the electrical properties of composite materials by incorporating electrical percolation considerations at inter-ply interfaces, which have not been addressed in previous studies. This research provides valuable information to improve the accuracy of predictions of the electrical properties of composites and offers a methodology for accounting for these properties in 3D magneto-thermal simulations. [ABSTRACT FROM AUTHOR]

Small businesses, like other taxpayers, compute taxable income using an overall accounting method (typically the cash receipts and disbursements method or an accrual method) and accounting methods for specific items [...]

The IRS has issued new guidance on automatic accounting method changes. Rev. Proc. 2009-39 provides certain additions, modifications, and clarifications to Rev. Procs. 2008-52 and 97-27 (as modified, amplified, and [...]

The new crown epidemic has brought various impacts to companies such as shrinking front-end consumption, and restricted personnel mobility. It also brings severe challenges to company's normal production and operation. Since the outbreak of the epidemic, all private enterprises have overcome numerous difficulties and made every effort to promote the resumption of work and production in an orderly manner while organising member units to prevent and fight the epidemic. This article first briefly introduces the measures and effects of private enterprises in response to the epidemic. After the resumption of work and production, in order to reduce the probability of infection on the way, more families choose to travel in private cars, and passenger traffic is expected to rebound sharply.

In recent months, the U.S. Treasury Department has issued two sets of rules interpreting new provisions found in the Tax Cuts and Jobs Act of 2017 (TCJA) that could have [...]

My journey into accountancy was not linear. While I had a passion for science during my school years and pursued chemistry at college, the idea of working in a laboratory [...]

In December, new accounting standards for reporting leases are scheduled to go into effect. The intention: To more accurately portray leases' implications for a company's financial health. Under the new [...]

Introduction Federal accounting method changes are an often overlooked area by state tax professionals. Tax professionals sometimes assume an election to change the method of accounting for a particular transaction [...]

The European Forest Accounts (EFA) comprise important key figures regarding the economic viability of forestry. They are reported to Eurostat by the Member States of the European Union and the European Free Trade Association on an annual, yet voluntary basis. In 2016, the EFA replaced the hitherto valid "Integrated Environmental and Economic Accounting for Forests" (IEEAF) as a new standard table framework. Due to the lack of an official guideline, and consequently differences in data availability, accounting practices and calculation methods in the participating states as well as an impediment of data harmonization and comparability is expected. The change from IEEAF- to EFA-tables entailed the need to revise and update the calculation methods of forest accounting in Germany. Within this update we aimed at creating consistency between German statistical reporting systems, establishing a comprehensible, up-todate system of calculating the EFA, but also to contribute to the international comparability of EFA-data by disclosing German methods and data bases. In the paper at hand we introduce the German methods and data bases used for calculating the EFA. We focus on the compilation of the physical and monetary tables of forest area and timber stock, as data from other EFA-tables is mostly taken directly from other statistics. We gathered examples for methods and data bases from several different sources, chose and described the best possibilities for Germany in regard to data availability and discussed the suitability of alternative data sources and methods. We believe that we achieved to establish a comprehensible system and that a good balance was found between providing best quality data and economic efficiency of calculating the tables. As an outlook, in order to improve international comparability of EFA-data, a standardization and disclosure of definitions, data sources and methods across all states is strongly suggested. [ABSTRACT FROM AUTHOR]

The article discusses how to determine assessable income for businesses in Australia. It explains that assessable income is calculated by deducting expenses from income, and there are two accounting methods - cash and accruals - to determine when income should be taxed. The Australian Tax Office provides guidelines on when to use each method, with the cash method being suitable for employees and professionals in sole practice, while the accruals method is more appropriate for businesses that rely on staff, equipment, or trading stock to generate income. [Extracted from the article]

ABSTRACT: Previous research demonstrates that auditors' directional goals influence their reporting decisions. For example, when auditors have goals of accepting client-preferred accounting methods, they tend to exploit ambiguity in reporting [...]

The IRS has issued new procedures for taxpayers using impermissible accounting methods to change their methods. The procedure aims to increase voluntary changes by taxpayers before the IRS mandates changes.

Copyright of Técnica Contable y Financiera is the property of Wolters Kluwer Espana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Financial statements prepared using other comprehensive bases of accounting [OCBOA] are growing in popularity. Many smaller, nonpublic entities are over burdened with the accounting and reporting guidance issued by the [...]

In Partnership With Author Robert Doherty, Global Head of Legal & Insolvency, Aryza Date published May 20, 2024 Categories (https://www.accountancyage.com/category/opinion-blog/) Opinion Blog In todays dynamic business landscape, mastering receivables management [...]

Summary * Attorneys who manage matters or clients need to have some form of a succession plan in place. * Most attorneys procrastinate the task of developing a succession plan [...]

The IRS mandates that rent-to-own (RTO) contracts should be considered as installment sales for federal income tax purposes. The agency avers that, in instances when RTO contracts are categorized as rental transactions, the lessor companies are required to calculate depreciation through the MACRS life with respect to the rental property, instead of the income forecast technique. Given that this shift in accounting methods could raise taxes of the RTO industry by as much as $1 billion, accountants should make sure that the best possible acceptable accounting method is selected. The two most common accounting methods are the cash method and the accrual method. The former is used by taxpayers generating income from the performance of services while the latter is used by those deriving income primarily from merchandise sale. Accountants must consider the income tax law as well as the nature of the trade or business in selecting an accounting method.

Strategies for enacting the "drop down" technique of changing corporate accounting methods are discussed, focusing on advantages for the change when the IRS prohibits other types of change and subsequent legal complications. Topics include defining the "drop down," which involves creating a separate entity, defining accounting methods, concerns under IRC sections 368, 351 and 269, and a case study.

Product value chains cause environmental and social impacts, of which many are currently unaccounted for in the price of products. Several methods exist to calculate the pressures of such impacts, as well as their monetization. In the context of life cycle assessment (LCA), expressing environmental and social impacts in monetary terms allows for aggregation and easier communication. Many methods for monetization exist, with fundamental differences in their underlying monetization approach, accuracy, availability and application. Scientific and private sector initiatives have introduced full cost accounting methods that also use different monetization approaches. We reflect on the differences between such existing methods. First, we review the foundations of monetization and introduce a new categorization to align terminologies. We summarize the connections between monetization and life-cycle assessment methods, since both categories of methods can be seen as the building blocks of existing full cost accounting methods. We then sketch the monetization landscape and its challenges. Next, we inventory current product-oriented full cost accounting methods and, through interviews with their developers, provide insights into their underlying monetization philosophy, data sources and quality, scoping, aggregation, and transparency. From this review, we propose four provisionalground rules for product-oriented full cost accounting methods in the discussion section, addressing theoretical framing, the time dimension, the integration of positive impacts and the methods’ transparency.

The Tax Cuts and Jobs Act of 2017 (the 'Act') made numerous changes to the Internal Revenue Code that impacts mold builders. Guidance is available to help explain the new [...]

Revenue Procedure 92-20, which allows a 90-day window for making voluntary changes in accounting methods, should be limited to recently-audited taxpayers. In effect, the window provides other infrequently audited taxpayers with an incentive to avoid making voluntary changes while receiving a penalty amnesty. Limiting the window's availability to taxpayers who have been audited in one of the two previous years would allow more revenue to be collected.

On February 4, 1998, Tax Executives Institute filed comments with Commissioner of Internal Revenue Charles O. Rossotti concerning IRS Rev. Proc. 97-27, which relates to the conditions and procedures for [...]

New IRS rules encourage taxpayers using impermissible accounting methods to change sooner rather than later. The IRS, in Rev. Proc. 92-20, issued a new set of rules for changing accounting [...]

This study tests whether Australian firms' unregulated foreign-currency accounting policies indicated the extent to which equity claims against the firm were exposed to exchange rate risk. Evidence supports the hypothesis that the methods of accounting for foreign-currency gains and losses on long-term monetary-items were associated with the exposure. Methods of disposing of the gains and losses arising from translation of the accounts of overseas subsidiaries were also associated with the exposure, but not in the manner predicted. The results indicate that foreign-currency accounting policies were established in an interactive (portfolio) decision-making process, and that managers reported equity claim exposures relative to the returns to equity claims against other firms. Overall, the study provides evidence that at least some unregulated choices of foreign-currency accounting methods were made to minimise the agency costs associated with contracts between shareholders and management. (Reprinted by permission of the publisher.)

The IRS has issued Revenue Procedure (RP) 92-20 concerning the procedures for taxpayers to change their accounting methods. The IRS wants to encourage taxpayers to change from erroneous methods as soon as possible, so that terms and conditions increase the greater the delay until a change. The three terms and conditions types from the former RP 84-74 are still used, with two additional categories.

Five categories are used to classify 25 ways and means employed in the evaluation of the economic viability of projects. The net present value and rate of return techniques have already been illustrated. The ratio, payback and accounting techniques are now evaluated. Results indicate that project viability evaluation which use techniques that do not factor in time value of money and minimum attractive rate of return should employ these techniques in connection with other techniques.

Copyright of Aktuelles Steuerrecht is the property of Richard Boorberg Verlag GmbH & Co KG and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Purpose: The purpose of this study is an assessment of the existing roughness models to simulate the flow in the narrow gap between corotating and rough disks. A specific configuration of the flow through the gap, which forms a minichannel with variable cross sections and rotating walls, makes it a complex problem and, therefore, worth discussing in more detail. Design/methodology/approach: Two roughness models were examined, the first one was based on the wall function modification by application of the shift in the dimensionless velocity profile, and the second one was based on the correction of turbulence parameters at the wall, proposed by Aupoix. Due to the lack of data to validate that specific case, the approach to deal with was selected after a systematic study of reported test cases. It started with a zero-pressure-gradient boundary layer in the flow over a flat plate, continued with flow through minichannels with stationary walls, and finally, focused on the flow between corotating discs, pertaining each time to smooth and rough surfaces. Findings: The limitations of the roughness models were highlighted, which make the models not reliable in the application to minichannel flows. It concerns turbulence models, near-wall discretization and roughness approaches. Aupoix's method to account for roughness was selected, and the influence of minichannel height, mass flow rate, fluid properties and roughness height on the velocity profile between corotating discs in both smooth and rough cases was discussed. Originality/value: The originality of this study is the evaluation and validation of different methods to account for the roughness in rotating mini channels, where the protrusions can cover a substantial part of the channel. Flow behavior and performance of different turbulence models were analyzed as well. [ABSTRACT FROM AUTHOR]

What if utilities could earn an additional 100 ROE basis points using only their existing base rates? What if utilities are entitled to these additional 100 basis points but aren't [...]