Objectives include enhancement of problem identification and solving skills and application of various accounting paradigms to current accounting issues. Use of financial statements to analyze business profitability, liquidity, solvency and valuation. Analysis focuses on developing an understanding of a company's operating strategies, industry position, and related economic characteristics. The managerial section will focus on the way managements determine the information they need for effective decision making and how those needs are met. Identification and development of accounting information for strategic management and continuous improvement of an organization.
Emphasis is given to tools and applications of strategic cost management.
Extended treatment of tax research methodology, ethical tax standards, sources of tax authority, uses of tax service, citators, communicating tax conclusions, and income tax practice and procedure. Study of federal income taxation of corporations and shareholders, emphasizing corporate formation, capital structure, distributions, redemptions, liquidations and the 'S' election. Also examines tax issues relating to prohibited transactions, unrelated business income, private foundation status, and reporting requirements. Opportunities, pitfalls, and strategies are emphasized. Identification of information system needs and issues related to software selection, development, installation and maintenance.