ACCOUNTING FOR INCOME TAXES: AN INTRODUCTION FOR LAWYERS
(LAWN-4057) - 2 UNITS
The tax consequences of a transaction for corporate financial statement purposes often differ from the consequences for corporate tax return and cash flow purposes. As such, advice provided to a corporate client often requires an understanding of the tax return consequences of a transaction, the cash impact of a transaction and the financial statement impact of a transaction. The purpose of this course is to familiarize students who are interested in a career in corporate taxation with the corporate financial statement impact of the tax consequences of transactions. Areas to be discussed include basic accounting principles, corporate financial statements, accounting for income taxes, effective and marginal tax rates, and tax and financial issues affecting multinational enterprises.