5583 – Financial Reporting and Auditing Implications Relating to Income Taxes

3 credits. Lecture.

Elective

This course focuses on the financial reporting and auditing provisions related to federal, foreign, and state income taxes. Students will learn how to: (1) calculate and identify income tax amounts reported on the income statement, balance sheet, and statement of cash flows, (2) prepare the income tax footnote and related disclosures, (3) audit income tax balances and disclosures, (4) identify evidential audit issues relating to income tax balances and disclosures, and (5) identify tax risks and internal controls to mitigate such risks.