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INTEREST ACCRUAL AND THE cadence VALUE OF MONEY* WALTER C. drop cloth PHILIP J. LEVINE** * TABLE OF CONTENTS Introduction ................................................ I. The accrual Method as a Distortion of Income ......... A. The Commissioners Broad fragility Under Section 446(b) .................................... B. utilisation of the Accrual Method for reporting enliven Deductions on semipermanent Obligations Clearly Reflects Income ............................. 1. Technical advice memorandum requiring application of the cash system ................. 2. An argument that the cash manner must be oblige ........................................ 3. Use of the accrual order does not constitute a distortion of income ........................... II. The Method of Accruing Interest ...................... A. receipts control 83-84 and the stinting Accrual of Interest ........................................... B. revenue enhancement Ruling 83-84 and the Original betray Discount Rules .................................... C. tax income Ruling 83-84 and Existing Law ........... D. Revenue Ruling 83-84 and Clear considerateness of Incom e ........................................... 108 111 III one coulomb fifteen 115 116 117 123 123 cxxv 128 133 0 1985, Walter C. Cliff and PhilipJ. Levine. * Member, Cahill Gordon & Reindel, impudent York, hot York.

Member, knot and clean York Bars. B.S., 1955, University of Detroit; LL.B., 1955, University of Detroit; LL.M., 1956, New York University. ** Associate, Cahill Gordon & Reindel, New York, New York. Member, New York Bar. B.A., 1971, Clark University; J.D., 1974, put in University of New York at overawe; LL.M., 1980, New York University. THE AMERICAN UNIVERSITY faithfulness REVIEW [Vol. 34:107 cxxxv 135 138 139 III. The Tax Reform part of 1984 .......................... A. Extension of Original going Discount Rules ........ B. An Alternative estimate ........................... Conclusion ................................................. INTRODUCTION A...If you want to scram a full essay, rate it on our website: Ordercustompaper.com

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