ACCT 7371 - Federal Tax Accounting

Three credit hours.

Adoption of changes in accounting periods and methods; income recognition and deduction allowances in connection with cash and accrual methods, interest; OID, time value of money, deferred payments, installment sales, prepaid and contested items, reversals, capitalization, amortization, and depreciation; inventory accounting; accounting for long term contracts; carryovers; claim of right; tax benefits; conformity between tax and financial reporting.Open only to MBA students and students in the graduate accounting and taxation programs.

Prerequisites: ACCT 7367 or 5323 or ACCT 7355 with a grade of B or greater or ACCT 4323 with a grade of C or greater.
Concurrent: ACCT 7355 is permitted.