Individual: Accounting Methods, Filing Status, and Dependency Status (2023)

Objectives:

After completing this course, you will be able to (1) identify different tax years and the criteria for different accounting methods, (2) determine when income/expenses should be recognized as income/deductions, (3) determine the amount of gross profit that should be reported, (4) answer questions about inventory valuation, (5) determine the appropriate filing status, (6) calculate the allowed standard deduction, and (7) apply the dependent status tests for tax benefits.

Major Topics:

Accounting Methods, Filing Status, The Standard Deduction, Dependency Status

Prerequisite:

None

Additional Info:

Access the OnDemand Course:

• Login: Please login to the course at http://www.ficpa.org/gleimsso.
• Enter the OnDemand Course: Once logged, in, click on the Online CPE: Transcript button.
• Access the OnDemand Course: Click the Continue button next to the OnDemand title that you are registered for.
  

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