ACC 291T Wk 5 Discussion - Standard Accounting Procedure

Post a total of 3 substantive responses over 2 separate days for full participation. This includes your initial post and 2 replies to other students. 

Due Day 3

Your company has always depreciated assets using the straight-line method. Your tax accountant has explained that a switch to the double-declining balance method would minimize taxes in the current year, but you are concerned about the impact this change would have on the value of long-term assets on the balance sheet and future tax liabilities.

Respond to the following in a minimum of 175 words: 

• Assuming your projected sales (and, therefore, tax bracket) are predicted to increase dramatically over the next 5 years, what should you do?

Due Day 7

Reply to at least 2 of your classmates. Be constructive and professional in your responses.