Senior Standing Students learn the applicable laws of taxation and will apply those laws to prepare and analyze tax returns and tax problems. Students also learn the methods of tax research and the application of computers in the preparation of tax returns. Students also learn the classification and use of the various funds, budgeting, fiscal procedures, reports and financial statements peculiar to these entities. Students learn the specialized field of accounting that records, measures and reports information about how much things cost. Students also learn how accounting cost data are accumulated and used by management for planning and control.
Students apply accounting theory to special problems related to partnerships and corporations.
This includes the formulation, dissolution and liquidation of partnerships. Other topics include the treatment of installment sales, consolidated financial statement preparation and problems, home and branch office accounting and an introduction to estates and trusts. 3113 Students learn to integrate theory and concepts with auditing methodology and practice. Emphasis is placed on the professional responsibilities of independent auditors, including the role of auditing in business, government, society and the international arena. Additionally, the course will provide a comprehensive and an integrated coverage of the latest developments in the environment, the standards and the methodology of auditing.