UNICAP Rules

Uniform Capitalization Rules (UNICAP Rules)
Uniform Capitalization Rules (UNICAP) are a set of tax accounting principles governing the capitalization of direct and indirect costs to property produced by taxpayers or acquired for resale. Established under the Tax Reform Act of 1986, these rules aim to ensure consistent decision-making regarding inventory cost allocation, leading to more accurate financial reporting and tax compliance.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.