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The Ripple Effect of Tariffs: Inventory, Pricing and Financial Statements

Withum

For importers of raw materials or finished goods, Accounting Standards Codification (ASC) 330: Inventory requires that all costs necessary to bring a product to its saleable state should be classified as inventory. based distributor purchases finished goods from a manufacturer in Japan. For example, a U.S.-based

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On the move: HCVT hired CAS co-leader

Accounting Today

governing board; John Kmetz and Rob Pruitt to vice chairs of the global network board; and four new national sector leaders: Aprille Bell in infrastructure; Lindsay Conley in consumer and logistics; Jason Myers in real estate; and Bryan Wright in manufacturing. All rights reserved.

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Tax Fraud Blotter: Negative waves

Accounting Today

Orlando, Florida: Medical equipment manufacturer Roger Whitman, 76, has been sentenced today to two months in prison for evading nearly $2.4 Whitman manufactured and sold Rife machines, devices that use energy waves to purportedly treat a wide range of medical conditions. All rights reserved. She faces up to 25 years in prison.

Tax
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Remaking the partnership model for young accountants

Accounting Today

Rebuild a professional development curriculum with "Lean" manufacturing principles to cut partner cook time from 20 years to 10? All rights reserved. Build a global team that can go toe to toe with U.S. CPAs on technical expertise and client service? Automate away half our billable hours? All the above?

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More winners and losers from the Trump tax bill

Accounting Today

Also, there is still a tax credit for manufacturing renewable components. All rights reserved. That includes renewable diesel fuel and other types of fuel that can be produced with zero emissions. That also goes for zero emission nuclear power," said Boccaccio. Thats still good through 2032. That didnt go away under Section 45X.

Tax
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Pros and cons of the Big Beautiful Bill

Accounting Today

What is the difference between manufacturing and production? All rights reserved. As drafted, many questions remain. For example, what constitutes an integral part of a production activity? When does construction begin?

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Ryan advises clients on tariff issues

Accounting Today

It may be the same company that just has multiple locations where they manufacture, but the borders really make a difference, and these trade negotiations are ongoing across the world," said Gulotta. With the administrations promise of bringing manufacturing back to the U.S. All rights reserved. said Gulotta.