Tax Accounting II

This course provides an overview of income tax lawyas it relates to corporations, partnerships,yfiduciaries, estates and trusts, and the gift tax,yand includes practice in preparation of taxyreturns. In addition, there is a tax research andyplanning component to the course, which acquaintsythe student with the fundamentals necessary forybetter understanding complex tax issues. Uponysuccessful completion of this course, studentsywill be able to: 1) describe basic provisions ofyFederal income tax law as they relate to theytaxpaying entities mentioned above; 2) discuss taxycompliance issues affecting these taxableyentities; 3) better understand the ethicalyimplications of working within a tax systemycharacterized, in part, by a high degree ofyambiguity; 4) understand (at a basic level) theyFederal Income Tax Code and other sources ofyauthority that affect the specific topicsydiscussed in this course; 5) use precise,ytax-specific terminology in communicating withyother constituencies regarding tax accountingyissues related to this course; 6) use taxyinformation in a variety of planning and decisionymaking contexts; and 7) exercise research skillsythat will enable them to find answers to a varietyyof tax scenarios. Prerequisite: ACC 232 and 315,yeach with a C- or higher, or permission