The U.S. IRS has released an updated international practice unit, IRC 481(a) Adjustments for IRC 263A Accounting Method Changes. The general overview of the practice unit is as follows: General Overview Note: This practice unit was updated to remove references to resources that are no longer current, relevant or available, and supersedes the 03/11/2020 practice unit with the same title. In general, an accounting method is a set of rules used to determine when and how a taxpayer takes income and expenses into account for federal income tax purposes. A method of accounting must involve timing. If an accounting practice...