ACCT 540 DeVry Week 6 Complete Work

ACCT 540 DeVry Week 6 Complete Work
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ACCT 540 DeVry Week 6 Complete Work
ACCT 540 DeVry Week 6 Discussion
Tax Research (graded)
You are a CPA in practice at a local CPA firm doing individual taxes. A client comes into your office and says that she
has her own business but doesn't want to report all of her income. Considering your risk, the risk to your client, and
ethical considerations, what should you tell her? Remember to include research on the subject! This section lists options
that can be used to view responses.
ACCT 540 DeVry Week 6 Homework Assignment
Go to the AICPA's Website (.aicpa.org/">www.aicpa.org). Under the "Research" tab, click on "Standards." On the
Standards page, click the "Code of Professional Conduct" link. Click the on the
.aicpa.org/codeofconduct/Ethics.aspx?_ga=1.150892402.574418716.1423696489" title="AICPA
New Code of Conduct">Revised Online Code of Professional Conduct link then expand the topic by clicking the
.equella.ecollege.com/file/ab234493-ea7f-4cef-9813-8a17d9e51445/1/w6assignment.png"> icon. Click on the blue link
.aicpa.org/codeofconduct/Ethics.aspx?_ga=1.117485005.574418716.1423696489">Code of Professional Conduct.
Search for rules 1.700.001 (formerly 301.01) and 1.510.001 (formerly 302.01). Summarize each of these rules in 2–3
pages (12-point, double spaced) and give an example of when a contingent fee would be permitted and another
example of when a contingent fee would not be permitted under this rule. Please give different examples than the ones
in the rule!
Submit your assignment to the Dropbox located on the silver tab at the top of this page. For instructions on how to use
the Dropbox, read these .next.ecollege.com/default/launch.ed?ssoType=DVUHubSSO2&node=node/184">step-bystep
instructions or watch this
.next.ecollege.com/default/launch.ed?ssoType=DVUHubSSO2&node=node/232">Dropbox Tutorial.
ACCT 540 DeVry Week 6 Course Project
Case 3
You have been hired as a consultant for ABC Investment Group. ABC incorporated in 1999 and manages investment
portfolios for small to medium size companies. The Director of the company is not up to speed on how unrealized gains
and losses as well as realized gains and losses on bonds should be accounted for. The Director has been told that
under certain conditions unrealized gains and losses can be accounted for in the income statement and accounted for
as part of other comprehensive income under other conditions. The Director is also unclear as to how to determine
whether a security is impaired and how to determine the amount that is required to be written down. You have been
asked to look into these issues and determine the proper accounting treatment for bonds.
Milestones
Points

Week 6
Develop your recommendations and conclusions and state them and their rationale in one to two
25
pages (12-point font, double-spaced).
ACCT 540 DeVry Week 6 On Site Activity Point
Tax and Auditing Research, Recommendations, and Conclusions
Explain the difference between tax evasion, tax avoidance, and abusive tax avoidance.
2.Identify tax research goals.
3.Identify and explain the basic steps of the tax research process.
4.Discuss the challenges in tax research.
5.Distinguish between tax compliance and tax planning.
6.Identify the differences between a Treasury Regulation and a Revenue Ruling.
7. Explain the meaning of the term precedent for tax research.
8. What does it mean when the IRS announces a nonacquiescence?