Emphasis is on professional standards, professional ethics, legal liability, audit planning, internal controls, audit evidence, audit sampling, and standard reports for the various attestation functions. A study and analysis of the federal income tax structure with emphasis upon the taxation of individuals. Topics covered include income determination, deductions, property transactions, credits, procedures, an introduction to corporation and partnership taxation, tax planning and ethical issues. A continuation of the study of the federal income tax structure with emphasis on the taxation of business entities, including corporations, partnerships and entities taxed as partnerships, and S corporations. The course also introduces gift and estate taxes and income taxation of estates and trusts.
Projects involve advanced accounting software.
An in-depth study of a specific accounting topic performed on an independent basis by the student under the direction of a faculty member. Completion of a major paper as part of the independent study is required. For eligibility and procedures see the Independent Study Policy in the Merrick School of Business section of this catalog. Although we will attempt to keep this information accurate, we cannot guarantee the accuracy of the information provided.