Analyzes the federal income tax law and its application to corporations, shareholders, partnerships, partners, estates, and gift transactions. Prerequisite: ACCT 5120.

Provides in-depth understanding of corporate governance and ethics related to the public accounting profession. Explores different ethical decision-making models and apply formal corporate governance frameworks to resolve ethical conflicts as faced by accountants. Examines the challenges to ethical decision-making faced by internal accountants & auditors and learn to evaluate & resolve ethical conflict.

Covers key areas of law that affect businesses. Topics that are covered include but are not limited to an introduction to the American legal system, Constitutional law, torts, contracts, sales, commercial paper, agency law, employment law, partnerships, corporations, hybrid entities, regulation of business, property law, and bankruptcy law.