Tax and Accounting

Elective

 The Tax and Accounting course will explore the relationship between accounting and taxation. The course objective is to gain a basic understanding of accounting fundamentals and their role in taxation.  In fulfilling this objective, the course focuses on developing basic technical skills to apply accounting procedures and rules to develop an understanding of how economic events are recorded in the financial statements.  In addition, it focuses on understanding the foundational principles of financial reporting and the role of the auditor.  We will undertake some exercises that will aid in interpreting financial statements.  This course emphasizes how judgment and choice among different accounting methods, as well as accounting regulation, can influence the reported numbers.  We will undertake a more thorough analysis of the tax accounts and we will discuss the relative merits

(demerits) of book-tax conformity.  While some understanding of the financial statements' preparers’ perspective is necessary, this course focuses on the financial statements' users’ perspective. The course is taught by Professor Jennifer Blouin, University of Pennsylvania.