Gives students an understanding of how accounting is used to help organizations achieve their goals. Students learn how to account and the reasons why we account as we do. Special emphasis is placed on the resolution of controversial accounting issues within the context of the firm's goals. Positive accounting theory and agency theory are discussed throughout. A basic introductory course in federal income taxation.
Emphasis is on taxation of individuals and sole proprietorships.
Topics include income measurement and deductibility of personal and business expenses. A continuation of Tax Accounting I. Emphasis is on tax treatment of property transactions and taxation of business entities. Also covers the use of technology to prepare complex returns and to research tax issues. Auditing A study of the legal, ethical and technical environment in which the auditor works. Current auditing theory, standards, procedures and techniques are studied.