Search for:
  • Advisory
  • Assurance
  • Tax
  • Strategic Alliances

Accounting Methods Services

What Methods of Accounting Should I Use? 

The timing of income and expense recognition is an essential element of your company’s cash tax planning efforts. The Tax Credits and Incentives Advisory team can help you:

  • Identify opportunities to defer recognition of revenue
  • Accelerate expense deductions

Regardless of your company’s financial and operating status, you can utilize accounting method changes to create cash benefits that reduce your current tax expense and increase cash flow.

What are the Different Methods of Accounting?

While many opportunities exist, Cherry Bekaert also recognizes that many companies face considerable risk related to the use of impermissible methods of accounting. Our tax professionals can help you to understand the different types of accounting methods; use the correct methods of accounting; obtain audit protection in many cases, and mitigate risks by identifying potential opportunities to offset an unfavorable change. With our guidance, your company can develop innovative approaches to make the most efficient and accurate claims to tax authorities.

Take Advantage of our Accounting Methods Services, Including:

  • Cash to Accrual
  • Accrual to Cash
  • Uniform Capitalization Rules
  • Depreciation Methods
  • Accelerated Expense Recognition
  • Accounting Method Change

Insights About Tax Cuts & Jobs Act (“TCJA”)

If changes to the new tax law leave you concerned for the future, our new Business Entity Analysis Model (“BEAM”) can help you be proactive. Start with these three steps:

Assess the impact
Tax reform may bring big changes to your business. The smart thing to do is assess how the current legislation may impact your specific circumstances so that you can make good business decisions and identify planning opportunities.

Review accounting methods
A rate reduction could transform your accounting methods changes into permanent benefits. Talk to us today to see which opportunities may exist for you to defer income and accelerate deductions. Some of the key TCJA takeaways for accounting methods include:

  • Change in accounting for long-term contracts
  • Increase in cash method of accounting threshold to $25 million
  • Like-kind exchanges only available for real property

Contact Our Accounting Methods Team

Related Thought Leadership
Mar 05

Proposed Regulations to Update Bad Debt Deductions Under IRC Section 1...

Learn More
Jan 11

Latest Guidance for Changing Simplified Accounting Methods for Small B...

Learn More
Dec 18

AICPA Issues Technical Guidance for IRS Audits of Partnerships

Learn More
Jun 02

FASB to Review Backwards Tracing Related to Tax Reform

Learn More
Jun 02

Get Ready: The Truth in Negotiations Act Threshold is about to Jump to...

Learn More
May 21

Is a COVID-19 Tax Loss a Qualified Disaster Loss?

Learn More
Let's Talk

Martin Karamon

Partner, Tax Credits & Incentives Advisory

Let's Talk


Quick Reference Guide for Valuation of Portfolio Company Investments

Discover the highlights of the AICPA Accounting and Valuation Guide in this quick reference whitepaper....

Learn More

Contact Our Accounting Methods Team