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ACCOUNTING METHODS FOR BUSINESS (GRADED)
The taxation of businesses requires us to think in a different conceptual framework. In general, how does the selection of a firm’s tax year and accounting methods potentially impact the measurement of taxable income? Please use an example to explain your discussion.

CASH VERSUS ACCRUAL (GRADED)
The taxation of individuals is based on the concept of the timing of when one receives cash and when one spends cash to incur expenses. The business taxation system must account for the principles of accrual accounting and GAAP.What impact do these concepts have on the calculation of taxable income?