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. Analzses include the standard-setting process, asset valuation and income determination. Examines accounting policies, ethical issues, FASB financial accounting rules and the impact of international accounting policies with a focus on application to current issues. Explores critical issues facing the accounting and financial managers in the current business environment.