The Consumer Marketplace and Retailers’ Shifting Accounting Needs

2. Don't be blind to the regulatory environment. Though new regulations take time to come to fruition, the effects of fluctuating tax and accounting policies stretch far and wide. Take, for instance, the IRS's Tangible Property Repair Regulations, which alter the way companies report expenses made to enhance and invest in fixed assets. Under these new rules, compliance continues to be king, but also becomes a more complex undertaking. Many firms, retailers and distributors included, must quickly revamp their current accounting methods from people, processes and technology perspectives to capture these repairs.