Accounting - Introduction to Taxation

Catalog description

An introduction to the role of taxes in society with emphasis on both individual and business taxation. By the end of this course students should be able to: recognize common tax issues from presented facts; apply basic tax rules and regulations to compute taxable income and tax liability for individuals and entities; incorporate tax costs and tax savings into calculations of the net present value of cash flows; recognize tax planning opportunities or problems inherent in common investment and business transactions and how they apply to individual and business taxpayers; identify tax policy issues suggested by or underlying particular provisions of the tax law. Prerequisite: Corequisite: ACCT 320 or ACCT 323 or ACCT 321.