ACC 7200 ADVANCED INCOME TAXATION (3)

Analyzes and distinguishes between the studies of federal taxation as it applies to sole proprietorship, 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 carry-forwards/carry-backs, etc.), employee compensation, related party transactions, shareholder taxation, and tax planning are also addressed.