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MPACĀ 650. Accounting for Income Taxes. 3 Credit Hours.

This course will provide those students not intending to pursue careers as tax professionals with an understanding of corporate taxation and the ability to apply the financial accounting standards relating to income tax. The course highlights areas (income, deduction, gain, loss, and credit) where financial accounting and tax accounting differ. Topics include current and deferred tax expense and benefit, temporary differences, carry forwards, deferred tax assets and liabilities, valuation allowances, business combinations, investment in subsidiaries and equity method investments, tax allocations, presentation and disclosure, and implementation of accounting for uncertain tax positions.