Decisions considered include product pricing, transfer pricing, make of buy, and capital budgeting. Formation of budgets establishing an internal control structure, performance evaluation, and cost control techniques are also discussed. The Federal income Tax and Business Decisions Semester by arrangement. Designed for the business manager who wants an awareness of tax considerations involved in business decisions. The course involves an examination of the definition of income, evaluation of different business entities, methods of reporting income and deferral transactions.
Students examine how slight changes in a transaction can materially alter the tax consequences.
The course includes discussion of the social, economic, and political aspects of taxation as well as an opportunity to familiarize the student with tax research techniques. Contemporary Financial Accounting Issues Three credits. Study of major financial accounting issues, including the conceptual framework of accounting, the standard-setting process, asset valuation, and income determination. The course concentrates on developing theories of the usefulness of accounting information in financial markets. This theoretical perspective is used to evaluate the conceptual framework, specific accounting standards, and issues related to international harmonization of accounting standards.