Examines in greater depth federal income tax law and regulations applicable to partnerships, corporations and fiduciaries. Also covers federal gift and estate tax principles, reorganizations, personal holding companies and the accumulated earnings tax. Emphasizes tax planning, including timing of transactions, appropriate form of transactions, election of methods when alternative methods are made available under the law and other lawful means to minimize the impact of taxation. Discusses procedures in the settlement of tax controversies. This course integrates accounting processes and procedures as they relate to the total information system.
Students study the design and implementation of accounting related information systems.
Topics include internal control, design of flowcharts, data flow diagrams, computerized financial reporting and the impact of the accounting function on various elements of the organization. It covers the purchase decision for hardware and software and related accounting considerations. Exposure to the latest accounting software packages will be presented. This course is designed to provide an understanding of the fundamental concepts of risk management in the areas of employee benefit programs, property damage and liability exposures and other business needs for insurance. The course will also provide an overview of the risk bearing industry, its function and importance and its relevance in today's business markets.