Continuation of the basic study of federal income tax with emphasis on partnerships, trusts, corporations, and estates. This course involves the study of the principles of auditing at an intermediate level. Theoretical as well as practical applications are reviewed. These applications are studied at great length in each area of audit responsibility, i.e., requirements for each balance sheet classification and analysis and tests of revenue and expense classifications. Statistical sampling techniques are reviewed.
Case studies supplement the lectures, and students create standard and tailored audit programs.
Special accounting problems in the area of partnerships, installment and consignment sales, mergers, consolidations, translation of financial statements of foreign affiliates, and accounting for estates, trusts and governmental units. Students seeking a degree while preparing for the CPA exam must complete the same courses. Some of these courses may be used as general electives satisfying degree requirements. Emphasis is placed upon the social organization and cultural history of the diverse peoples who have inhabited the Indian Triangle. Emphasis on the place of anthropology in the contemporary literature.