Memo for cfo indicating outcome of tax changes

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Reference no: EM1362891

JIM currently uses the calendar year as its financial and tax annual accounting period. Because of the seasonality of sales, management wants to change to a fiscal year beginning April 1st through March 31st. You have been asked to review the tax law criteria for making this change.

Write a memo to your CFO:

- Indicating the outcome of such a change on current taxes, and

- Outlining the requirements for making this change.

Reference no: EM1362891

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