Introducing Uncle Sam's Tax Audit Assistant! "Discover How To Survive An IRS Tax Audit In 7 Minutes"

Tax Audit Assistant Catalog

Tax Audit Assistant
IRS Target List
Tax Audit Assistant Catalog
Testimonials
Recommend This Site
Privacy Statement
About Us
Contact Us
Questions?
    Back 

Manufacturing Industry Edition

Overview of the industry. Emphasis on change of accounting method, IRC section 263A, and inventory.

TABLE OF CONTENTS

  • Chapter 1
    • Introduction Purpose 1-1
    • How This Guide Is Presented 1-1
    • Manufacturing 1-2
    • Principal Industry Activity (PIA),
    • Principal Business Activity (PBA), and
    • Standard Industrial Classification Codes 1-3
    • Audit Technique Guides (ATG) 1-4
    • Industry Specialization Program (ISP) 1-4
  • Chapter 2
    • Understanding the Production
    • Process Introduction 2-1
    • Types of Manufacturers 2-1
    • Costing Methods for Manufacturing 2-2
    • Planning the Audit 2-2
    • Identification of Potential Issues/Tax
    • Return Analysis 2-2
    • Specialty Referrals 2-7
    • Comparative Years Analysis 2-8
    • Ratio Analysis 2-9
    • Initial Interview 2-10
    • Touring the Facilities 2-11
    • Specific Observations 2-13
    • Flowcharting the Production Process and
    • Related Source Document Flow 2-15
  • Chapter 3
    • Required Filing Checks Introduction 3-1
    • Employment Tax Reconciliation 3-1
    • Employee Versus Independent Contractor 3-2
    • Other Employment Tax Issues -- In General 3-4
    • Interest Free Adjustments 3-6
    • Information Returns 3-6
    • Form 1099 3-7
    • Examination Techniques 3-7
    • Information Returns Statute of Limitations 3-10
    • Backup Withholding 3-10
    • Assertion Procedures 3-11
    • Abatement Procedure 3-12
    • Related Returns 3-12
    • Identifying Related Returns 3-13
    • Corporate Taxpayer -- Shareholder Issues 3-13
    • Other Related Return Issues 3-17
    • Foreign Entities 3-20
  • Chapter 4
    • Balance Sheet Introduction 4-1
    • Interrelationship Between Balance Sheet and
    • Income Statement 4-2
    • Effect of Balance Sheet Adjustments on
    • Taxable Income 4-3
    • Preliminary Audit Steps 4-4
    • Reconcile the Book Accounts to the Return 4-4
    • Comparative Analysis 4-5
    • Auditing a Balance Sheet Account and
    • Schedules M-1 and M-2 4-5
    • Cash 4-6
    • Accounts Receivable 4-10
    • Inventory 4-14
    • Loans to/from Shareholders 4-14
    • Building and Equipment 4-18
    • Accounts Payable, Other Current Liabilities and
    • Other Liabilities 4-21
    • Capital Stock/Capital Account 4-24
    • Retained Earnings 4-25
    • Schedule M-1 and Schedule M-2 4-26
  • Chapter 5
    • Sales and Income Issues Introduction 5-1
    • How Sales Are Generated 5-1
    • Independent Sales Staff 5-1
    • In-house Sales Staff 5-2
    • Trade Shows 5-2
    • Newspaper Advertisements/Mailers 5-2
    • Sales Marts 5-2
    • Word of Mouth 5-2
    • Public/Employee Sales 5-2
    • General Audit Techniques 5-2
    • Understanding the Sales Cycle 5-2
    • Understanding the Accounting
    • System/Internal Controls 5-4
    • Specific Audit Techniques 5-4
    • Internal Revenue Manual 4231.582 5-4
    • Other Recommended Income Probes 5-7
    • Other Income Issues 5-8
    • Unreported Interest Income 5-8
    • Bargain Purchases Under
    • IRC section 311(b) 5-8
    • Lease Inclusion Income:
    • Passenger Automobiles 5-9
    • Contra-Sales Accounts 5-10
    • Returns 5-10
    • Allowances in General 5-10
    • Warehouse Allowance 5-10
    • Markdown Allowance 5-11
    • Advertising Allowance 5-11
    • Yearend Allowance 5-11
    • Volume Allowance 5-11
    • Trade Discounts 5-11
    • Cash Discounts 5-12
    • Accounting for Returns,
    • Allowances and Discounts 5-12
  • Chapter 6
    • Inventory Introduction 6-1
    • Why Audit Inventories? 6-1
    • Types of Manufacturers 6-5
    • Custom 6-5
    • Production 6-5
    • Combination 6-6
    • Costing Methods for Manufacturing 6-6
    • Job Order Costing 6-6
    • Process Costing 6-6
    • Operation Costing 6-6
    • Inventories 6-7
    • Auditing Inventory 6-8
    • General Audit Techniques 6-9
    • Issues 6-18
    • Incorrect Inventory Counts and Omissions 6-18
    • Improper Valuations 6-24
    • Inventory Write-Down Under the
    • Lower of Cost or Market Method 6-25
    • Audit Techniques - Improper Valuations 6-28
    • Standard Cost Variance Treatment 6-30
    • Other Considerations 6-35
    • Practical Capacity 6-35
    • Idle Capacity 6-35
    • LIFO Inventory Valuation 6-35
    • Long-Term Contracts 6-36
  • Chapter 7
    • IRC Section 263A
    • Uniform Capitalization Introduction 7-1
    • IRC Section 263A
    • Uniform Capitalization 7-1
    • All Direct Costs 7-2
    • All Indirect Costs Associated with Production 7-2
    • Audit Techniques 7-3
    • IRC Section 263A Regulations: Post 199 7-15
    • IRC Section 263A Regulations:
    • Post 1993 for Self-Constructed Assets and
    • Interest Capitalization 7-16
  • Chapter 8
    • Change in Accounting Method Introduction 8-1
    • What Is a Change in Accounting Method? 8-1
    • IRC Section 481
    • Adjustment 8-4
    • Category A or Category B
    • Method of Accounting 8-5
    • Year of Change 8-6
    • IRC Section 481(a) Adjustment Period 8-6
    • How IRC Section 481 Interacts with an
    • Inventory Adjustment 8-7
    • IRC Section 481(b)(1) and
    • IRC Section 481(b)(2) Limitations 8-10
    • Revenue Procedure 94-49 8-13
    • Scope of Rev. Proc. 94-49 8-13
    • Procedures to Obtain Automatic Consent 8-14
    • Other 8-14
    • Revenue Procedure 95-25 8-14
    • Revenue Procedure 95-33 8-15
    • Court Cases 8-15
  • Chapter 9
    • Research and Development Introduction 9-1
    • IRC Section 174: Definition of Research and
    • Experimental Expenditures 9-1
    • IRC Section 41:
    • Credit for Increasing Research Activities 9-3
    • Definition of "Qualified Research" 9-3
    • Definition of "Qualified Research Expenses" 9-6
    • Definition of "Qualified Wages" 9-6
    • Qualified Supplies 9-7
    • Qualified Contract Research 9-7
    • Computer Software Development Costs 9-8
    • Revenue Procedures 69-21 9-8
    • Costs to Develop Internal-Use Software 9-8
    • Summary of Computer Software
    • Development Costs 9-10
    • Specific Issues Relating to the Research Credit 9-10
    • Wages Paid to Technical Writers
    • Re: User Manuals 9-10
    • Employee and Employer Contributions to a Deferred
    • Compensation Plan as Defined in Section 1.401(k) of
    • the Income Tax Regulations 9-11
    • Wages paid to Managers Above the
    • Level of First-Line Supervisors 9-11
    • Base Period Recomputation 9-12
    • BETA Testing
    • Testing Conducted by Customers 9-12
    • Costs Attributable to Reviewing a
    • Competitors Product 9-12
    • Costs to Develop Internal Use Software 9-13
    • Software Expenditures Capitalized for
    • Book Purposes Per FAS 86 9-13
    • Small Tools and Purchased Software 9-14
    • Costs of Developing Generic Drugs 9-14
    • Summary of Computation of the Research Credit 9-14
    • Computation of the Research tax Credit 9-16
    • Base Amount Computation 9-16
    • IRC Section 280C(c)(3): Reduction of
    • Credit Versus Expense 9-19
    • Alternative Minimum Tax 9-19
    • Research and Development Tax Shelters 9-20
    • Audit Techniques 9-20
  • Manufacturing Glossary G-1

Item #4147115E


Price: $106.51  Sale price $64.97

Support Our Troops

 Support Our Troops

Great American Tax Accountant's is proud to announce that a portion of your investment in our products will be sent directly to the Morale Welfare and Recreation Department of our Armed Forces.
 
Sacrifice is not limited to our men and women in uniform.  Children, spouses and families of military personnel are deprived of special times while their loved ones are deployed far from home.  Even when hostilities subside, they often remain separated – sometimes for years!
 
With all of the conflicts taking place around the world, the children, especially, are often focused on a theatre of battle where their mother or father is serving.  No one can take the place of the children’s parents, but everyone can make a difference in their lives.  The children and family members left behind need our support now more than ever.
 
The Morale Welfare Recreation (MWR) Department organizes a variety of activities and programs to address the needs of these individuals – providing quality support, recreation, and educational services to contribute to the retention, readiness, and mental, physical, and emotional well-being and enjoyment of the military community.
 
 

Print this page

Copyright 1999-2006  *  Great American Tax Accountants. All Rights Reserved. 
No part of this web site may be reproduced or copied without express written permission from its publisher.

 

Tax Audit Assistant | IRS Target ListTax Audit Assistant Catalog | Testimonials | Recommend This Site | Privacy Statement |  Terms of Service | About Us | Contact Us |