MTAX 6435 - Income Tax Accounting and Methods

Topics in this course include the adoption of and change in accounting periods; income recognition and deduction allowance under the cash and accrual methods of accounting; the time value of money and original interest discount rules; prepaid and contested income and expenses; income and deduction reversals; accounting method changes; installment sales; long-term contracts; inventory accounting, including LIFO, FIFO and manufacturers’ inventories; and net operating losses. Prereq: Grade of C (2.0) or higher in ACCT 6140 or ACCT 4410 or at least 6 credit hours of MTAX courses. Restriction: Restricted to graduate majors and NDGR majors with a sub-plan of NBA or CPA within the Business School. Max hours: 3 Credits. Semester Hours: 3 to 3