Thomson Reuters has introduced a continuing education and certification program for accountants and auditors who specialize in fixed assets and depreciation tax cases to train them in the Internal Revenue Service’s tangible property repair regulations.
The Thomson Reuters Checkpoint Learning Tangible Property Certificate Program offers training on the IRS’s uniform capitalization rules. Using the Checkpoint Learning system, the program explains asset lifecycles, including the initial determination of when an expenditure should be capitalized, when it falls within the repair guidelines, and when it's within the de minimis guidelines. Professionals who participate in the program will learn to distinguish between separate assets and component parts of assets to help decide whether to capitalize or expense an asset.
“The treatment of fixed assets is a critical area in every business, but it can be difficult for practitioners to differentiate between a repair of a major asset and a replacement,” said Chris Horne, senior director of operations and business development with the Thomson Reuters Tax & Accounting business, in a statement. “This program helps professionals keep up with the latest depreciation rules and allows them to provide better client service to those who need guidance in the area of tangible property.”
Candidates who successfully finish the coursework and pass the exam will earn a Checkpoint Learning Tangible Property Competency Certificate, along with about 31 hours of CPE credit. Completion of the courses can also qualify a candidate for the continuing education requirement of enrolled agents and other designations.
Separately, Thomson Reuters has also introduced the ONESOURCE Indirect Tax Development Partner Program to enable developers at third-party firms, independent software vendors and value-added resellers to build, sell and support apps that extend the features of the ONESOURCE Indirect Tax platform.
Members of the program will get access to the Thomson Reuters Developer Community platform, along with development tools, learning materials and documentation, technical support and training, access to member online forums, news and events, close collaboration on product roadmaps and joint roadmap planning, and co-marketing and co-selling opportunities.
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