Curriculum Guide · Courses

Professors Brandon Carlton, Alison Jones, Sara Logan, Scott Rabinowitz, and Stafford Smiley

LL.M Course 854 | 2 credit hours

Covers accounting methods and accounting periods. The course examines a broad range of subjects concerning the timing of income and deductions under Subchapter E of the Internal Revenue Code. Topics include requests to change methods, inventories (including costing, valuation, and the requirements for maintaining inventories), principles of income recognition, prepaid income, cash equivalency and constructive receipt, special methods involving long-term contracts, depreciation, estimated expenses, prepaid expenses, and expensing versus capitalizing costs. These topics are analyzed from both a technical viewpoint and a tax policy perspective.

Prerequisite: Taxation I, but a knowledge of financial accounting is not necessary for this course.

This class, Income Tax Accounting, is required for U.S. trained students pursuing an LL.M.(Taxation). This class is not required for students trained outside the U.S.