ACCT 550 - Taxation

Part of being financially savvy is having an understanding of how taxation affects business decisions; e.g., forming a corporation and raising capital, operating the firm, distributing cash to shareholders through dividends and share repurchases, expanding through acquisition, and divesting lines of business. Taxes have a direct impact on cash flow and often divert 30 to 40 percent of the firm’s pretax cash flow to the government, effectively making the government the single largest stakeholder in many firms. Having an understanding of taxation and how firms plan accordingly is important for just about any career path you choose. Topics include the philosophy of taxation, income determination, deductions and credits, acquisition and disposition of property, and related gains and losses examined through the eyes of taxable entities (i.e., individuals, C corporations, S corporations and partnerships).

(Cr: 3