This course is designed to prepare students for the Accreditation Council for Accountancy and Taxation (ACAT) exam. It also serves as a capstone course covering financial accounting, internal control, professional ethics, business consulting services, managerial accounting, business law and taxation.
- Perform the functions of the accounting cycle.
- Analyze risk and profitability.
- Evaluate internal control.
- Prepare the four financial statements.
- Describe cash versus accrual accounting.
- Define trusts and agency relationships.
- Calculate taxable income for different accounting entities.
- Describe the standards of ethical and professional conduct that apply to accounting and tax professionals.
- Define various components of law.
- Identify employee benefit plans.
- Prepare budgets.
- Describe accounting methods for assets, liabilities, and equity.