LAW 501 - Federal Tax Accounting & Tax Timing

Unit(s): 2

An examination of the concepts and principles underlying the annual accounting system of the federal income tax, including: the cash receipts and disbursements method of accounting, the accrual method of accounting, inventory accounting, carryovers, the claim of right doctrine, the tax benefit rule, deferred compensation, capitalization and cost recovery, deferred payment sales, loss limitations, original issue discount, and other time value of money issues. This course will emphasize rigorous analysis of the Internal Revenue Code and Treasury Regulations. It will be assumed that students are generally familiar with the issues covered in a basic Federal Income Taxation course.

Restriction: Class restricted to Graduate (Masters) and Graduate Law; College restricted to School of Law
School of Law