A detailed analysis of costs relevant to non-routine and long range planning, capital budgeting, joint costing, production mix and yield variances, uncertainty in decision making involving subjective probabilities and the role of cost accounting in operations research. A study of the total information systems approach to the analysis, design, implementation and use of accounting information systems with an emphasis on computer based systems. Builds on the design principles introduced in ACC 327. Topics include the determination of taxable income and the tax implications of incorporation, transfers to corporations, corporate distributions, redemptions and liquidations. Other topics may include the accumulated earnings tax, the personal holding company tax, collapsible corporations, gift and estate taxes.
Emphasis is placed on fund accounting as distinguished from profit-motive accounting.
3 Principles of Auditing Auditing concepts, standards and procedures, ethics and legal requirements, scope, objectives and nature of the audit. Statistical sampling in auditing, audits of electronic systems, the auditor's role in tax and management advisory services. 3 Advanced Auditing Special auditing problems related to procedures in auditing plant and equipment, liabilities and capital accounts. Preparation of auditing programs, internal control questionnaires and financial reporting given considerable emphasis. Recent trends and procedures in auditing, professional ethics and legal liability will also be included.