ACCT 420 - Accounting and Taxation of Mutual Funds

3 Credit(s)

This course examines the role of the investment accountant for a mutual fund. Students learn about the regulatory environment in which mutual funds operate and the role of the SEC. Students also gain an understanding of the types of transactions handled by a mutual fund accountant and how they affect the daily determination of the fund’s net asset value (NAV). Students are placed into teams and do the accounting for their own mutual fund. Finally, students learn about tax implications pertinent to mutual funds. Students study the subchapter M rules relevant to a regulated investment company (RIC) and examine the typical tax issues that a mutual fund shareholder will encounter.
Prerequisite(s): ACCT 105 and ACCT 205.