Financial-tax annual accounting period


Problem: Wilson Corporation currently uses the calendar year as its financial and tax annual accounting period. Management wishes to changes this to a fiscal year beginning October 1st and going through September 30th. Look at the tax law criteria that would be required to make this change and summarize them in a few paragraphs. Based on this, explain why the Wilson Corporation may or may not want to make this change.

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Accounting Basics: Financial-tax annual accounting period
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