Accounting

Describe rules governing the deductibility of employer and employee contributions to authorized retirement funds.

• Discuss the limitations for deducting loss carry forwards.

• Define a taxable year according to Article 22 and describe how a taxpayer can change the taxable year.

• Describe the methods of accounting used for taxpayers and determine when taxpayers may change from one method to another.

• Describe how expenses incurred to alter or improve a non-depreciable asset affect the cost-basis of that asset