Analyzes the basic federal income tax provisions affecting corporations and shareholders. Studies tax policy and the basic principles of the federal income tax law. Special attention is given to the provisions of the IRS code affecting individual tax payers. Provides a comprehensive introduction to, and analysis of, the federal estate and gift tax laws including basic principles of estate planning. Procedures for preparation of the estate and gift tax returns are outlined.
Coverage is given to state death and inheritance taxes.
Principle topics include performance evaluation in multi-national enterprises, social responsibility, harmonization of accounting practices, and transfer pricing within an international framework. The course addresses these topics in part, through an applied approach in the discussion and analysis of cases. Involves the student in extensive reading of accounting literature in order to gain a thorough understanding of generally accepted accounting principles and the underlying theories on which they are based. Emphasis is on current developments in accounting theory. The course emphasis is on the usefulness of accounting information in financial markets through the study of the accounting conceptual framework.