MAC 8225 :
Advanced Tax Topics

This course addresses the financial accounting and reporting requirements related to the effects of income taxes that result from an entity's financial activities during the the current and preceding years, including merger and acquisition activities and international and state and local taxation impact, as prescribed by Accounting Standards Codification (ASC) 740. Specific topics addressed in the course include calculation of total income tax for financial reporting purposes, recognition of deferred tax assets and liabilities and the determination of a need for a valuation allowance, calculation and reconciliation of the effective tax rate, and footnote disclosure related to income taxes. The course also covers FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes ("FIN48") and a variety of other topics and issues related to financial reporting of income taxes. The course reinforces the conceptual underpinnings of the relevant concepts through the integration and application of modeling techniques to be used for tax accounting analysis and problem solving.