The concepts and methods of determining federal income tax liability for the individual will be presented with explanations of theory, historical background, purposes, and results of tax statutes and regulations. Topics include the elements of both inclusions and exclusions for gross income and allowable deductions along with tax computations. An integration of all preceding Management courses through the study of the function and responsibility of top-level executives. In addition, student teams compete in an industry simulation, making 15 sets of annual decisions and preparing three summary reports. This course is designed primarily for senior management majors.
Students work with an actual small business as a member of a consulting team.
They observe and study procedures, analyze actual business problems and opportunities, and make recommendations for action. Class sessions involve material focused for actual client analysis. Class project is a client report plus an oral discussion of recommendations with the client. Permission of instructor required.