Accounting Methods Seminar
Featuring: Deloitte Tax LLP
Date: March 16, 2012
Place: Hilton Los Angeles / Universal City
555 Universal Hollywood Drive
Universal City, CA 91608
George Gans, Partner Deloitte Tax LLP, Los Angeles, CA and
Robert A. Kilinskis, Managing Partner Federal Tax Accounting, Deloitte Tax LLP, Washington, DC
7:30-8:15 Registration
8:15-8:30 Welcome and Overview
8:30 – 10:00 Refresher on Manual and Automatic Method Changes
· Procedures and Timing
· Tips, Tricks, and Traps
· Most Common Changes
10:00-10:15 Break
10:15 - 12:00 Hot Topics and Planning Opportunities in Federal Tax Accounting
· Legislative proposals
· Expected Administrative guidance
· Recently issued guidance
· Planning through changing accounting methods
· FTC and dividend planning through changing E&P methods
12:00 – 1:00 Lunch
1:00 – 2:45 New Tangible Property Regulations
· Scope of New Rules and Effective Dates
· General Framework
o Materials and Supplies Temp. Reg. § 1.162-3T
o Costs to Acquire or Produce Tangible Property Temp. Reg. § 1.263(a)-2T
o Costs to Improve Tangible Property Temp. Reg. § 1.263(a)–3T
o General Asset Accounts/Dispositions Temp. Reg. § 1.168(i)-7T/8T
· De Minimis Rule
· Unit of Property with Examples
o Buildings
o Plant Property
o Network Assets
o Leased Property
o Other Property
· Improvements with Examples
o Betterment
o Restoration
o Adaptation
· Routine Maintenance Safe Harbor with Examples
· Disposition and Retirements
2:45 – 3:00 Break
3:00 - 4:30 Continuation of New Tangible Regulations
· Finish Topics Above
· Recently Issued Transition Rules (not issued as of March 7, 2012)
· ASC 740 Considerations
· Implementation Issues and Opportunities
4:30 End