Memo for CFO Indicating Outcome of Tax Changes JIM currently uses the calendar year as its financial andtax annual accounting period Because of the seasonality of sales, managementwants to change to a fiscal year beginning April 1st through March 31st Youhave been asked to review the tax lawcriteria 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