explain why income for financial reporting and taxable income are calculated differently identify permanent and temporary difference in net income and taxable income calculate permanent and temporary differences in net income and taxable income

               

describe the history and purpose of tax law in the United States and the process by which tax laws are created describe the composition of taxable income and calculate income tax complete the applicable individual income tax forms identify discuss, and apply strategies for minimizing taxable income distinguish between tax avoidance and tax evasion

               

DECISION MAKING

describe how accounting information facilitates management decision-making apply differential analysis to make the following types of decisions: make or buy a product; lease or buy an asset; discontinue a department, plant) or product; offer discounted prices on special orders; replace or repair equipment apply present-value concepts to evaluate capital investment opportunities

               

PLANNING AND CONTROL

identify and apply internal control procedures used to safeguard assets and ensure the integrity of the accounting information system identify and apply appropriate information technology to the accounting system explain how to use activity-based costing and why it is used explain and compare the behavior of fixed, variable, and mixed costs apply cost-volume-profit and contribution Read More…

               

describe the purpose of the accounting system describe the purpose of journals and ledgers and their relationship describe the impact of technology on the accounting process identify and explain the advantages and disadvantages of different types of accounting systems differentiate between accounting and bookkeeping analyze and describe how business transactions impact the accounting equation apply Read More…

               

identify sources for obtaining financial reports describe the users and uses of financial information identify the sections in an annual report and the purpose of each section explain the role of management and the auditor in preparing and issuing an annual report identify and explain the types of audit opinions explain the role of accounting Read More…

               

perform research and communicate in writing the results of the research demonstrate ethical decision-making skills and conduct in a business scenario apply analytical and critical decision-making skills identify and use information technology productively demonstrate the ability to work within a team concept