ACC 5006 Advanced Income Taxation (Dual Degree BA Accounting/MAcc Only) (3)

Analyzes and distinguishes between the studies of federal taxation as it applies to sole proprietorships, partnerships and corporations, including the tax implications and/or consequences of forming, operating, liquidating, and reorganizing such entities. The complex topics of financial tax accounting concepts (e.g., cash and accrual methods of tax accounting, time value of money effects, deferred tax assets/liabilities, permanent/temporary differences, net operating loss carryforwards/carrybacks, etc.), employee compensation, related party transactions, shareholder taxation, and tax planning are also addressed. Prerequisite: ACC 20464 Financing and Investing Activities.