An analysis of the federal income tax and its application to corporations, shareholders, partnerships, partners, and estate and gift transactions. From this, basic concepts and tax attributes relating to the alternative forms of operating a business are considered. Provides the basic skills required to do tax research. Those views are shared and refined in class discussion. Case studies are used heavily to apply, expand, and refine the ability to design and evaluate cost management systems.
Group work is emphasized, including in-class presentations.
Extends students' exposure to current developments in the field of auditing. Topics include current issues facing the profession, statistical and nonstatistical applications in auditing, the impact of computers on the audit process, including the use of computer-assisted audit techniques and other types of accountant's reports. Students use the concepts learned in this course and from the introductory course to develop an audit plan for a major corporation. Using cases from actual audit practice, students consider a variety of contemporary auditing issues. Provides a critical assessment of the auditor's role in the external financial reporting process, with particular focus on the changing expectations of users of this information, especially from the perspectives of investors and regulators.