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Taxes and Business Strategy 5/e

作者：Myron S. Scholes, Mark A. Wolfson, Merle M. Erickson, Michelle L. Hanlon, Edward L. Maydew, Terrence J. Shevlin
原價：NT$ 1,550

ISBN：9781292065571
版次：5
年份：2016
出版商：Pearson Education
頁數/規格：528頁/平裝單色

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Description
For MBA students and graduates embarking on careers in investment banking, corporate finance, strategy consulting, money management, or venture capital

Through integration with traditional MBA topics, Taxes and Business Strategy, Fifth Edition provides a framework for understanding how taxes affect decision-making, asset prices, equilibrium returns, and the financial and operational structure of firms.

Teaching and Learning Experience

This program presents a better teaching and learning experience—for you and your students:

Use a text from an active author team: All 5 authors actively teach the tax and business strategy course and provide students with relevant examples from both classroom and real-world consulting experience.

Teach students the practical uses for business strategy: Students learn important concepts that can be applied to their own lives.

Reinforce learning by using in-depth analysis: Analysis and explanatory material help students understand, think about, and retain information.

Features
Use a text from an active author team

UPDATED! Major text updates from the authors, including tax law and financial accounting rule changes give students the most current information on these topics.

Mark Wolfson and Myron Scholes (who received the Nobel Prize for Economics for his work), Merle Erickson, Ed Maydew, and Terry Shevlin lend their expertise to the Fifth Edition.

All 5 authors use their teaching experience to provide students with relevant examples from both classroom and real-world consulting experience.

Teach students the practical uses for business strategy

NEW! A discussion about start-up organizations and the organizational form choice for these businesses highlight the authors’ recent research.

Accounting for income taxes and what outside analysts can learn about the firm's tax planning is discussed, enabling faculty to relate tax planning to corporate reports.

Discussion on College Savings Plans (529s), which uses both an algebraic and Excel® spreadsheet approach to explain and analyze complex rules and transactions.

Material about new tax rates on dividends and capital gains is covered in Chapter 4.

All changes in the tax code are reflected throughout this text with extensive analysis of technical tax rules applied to corporate mergers and acquisitions. Using both an algebraic and Excel spreadsheet approach, the authors explain and analyze complex rules and transactions.

The financial accounting for corporate taxes has been updated to include new disclosures under Financial Interpretation 48 (FIN 48) “Accounting for Uncertain Tax Benefits” in the appendix to chapter 2 for those wishing to relate tax planning to corporate financial statements.

Reinforce learning by using in-depth analysis

UPDATED! The new back-and-forth changes to the estate and gift tax laws are reviewed in the text.

Appendix on corporate/individual tax integration using Australian system as vehicle for discussion.

Explanatory material Chapter 7 on estimating corporate marginal tax rates.

Thorough analysis of equity-based compensation including, employee stock options and restricted stock is covered in Chapter 8.

Explains and illustrates the accounting for the corporate income tax benefits of employee stock options and how this impacts estimates of firms taxable income and marginal tax rates Chapter 8, Appendix).

Analyzes effect of recent dividend and capital gains tax rate changes on the organizational form choice-corporations versus flow through entities is discussed in Chapter 3.

Discussion of new Roth 401(k) plans including a comparison to traditional 401(k) plans is added to Chapter 3.

Chapters 10 and 11 (international tax) reflect the repeal of the Extraterritorial Income (ETI) regime, implementation of the domestic production activities deduction, reduction of the number of baskets for the foreign tax credit, increased discussion of tax havens, increased discussion of foreign partnerships, as well as numerous other changes to the area, particularly from the American Jobs Creation Act of 2004.

Chapters 13-17 (mergers and acquisitions) are updated to reflect recent tax law changes and to reflect modifications in the financial accounting rules (GAAP) for mergers and acquisitions. In addition, discussion of several actual deals in which tax benefits were substantial is added.

Chapter 18 (estate and gift planning) is updated to reflect recent tax law changes.

Discussion of the empirical evidence on the concepts discussed in Chapter 6 on non-tax costs of tax planning.

Chapter 7 adds material on the pervasiveness of tax losses by U.S. corporations and the distribution of carryforward periods which are important items for estimating corporate marginal tax rates.

Graphs on restricted stock and employee stock options in Chapter 8 includes a discussion of the revised required financial accounting for employee stock options, the tax consequences of backdating of employee stock options, and adds a table presenting how employee stock options are taxed to both the employee and the issuing employer firm in selected countries around the world.

New To This Edition

Use a text from an active author team

UPDATED! Major text updates from the authors, including tax law and financial accounting rule changes give students the most current information on these topics.

Teach students the practical uses for business strategy

NEW! A discussion about start-up organizations and the organizational form choice for these businesses highlight the authors’ recent research.

Reinforce learning by using in-depth analysis

UPDATED! The new back-and-forth changes to the estate and gift tax laws are reviewed in the text.

Table of Contents
Chapter 1 Introduction to Tax Strategy
Chapter 2 Tax Planning Fundamentals
Chapter 3 Returns on Alternative Savings Vehicles
Chapter 4 Choosing the Optimal Organizational Form
Chapter 5 Implicit Taxes and Clienteles, Arbitrage, Restrictions, and Frictions
Chapter 6 Nontax Costs of Tax Planning
Chapter 7 The Importance of Marginal Tax Rates and Dynamic Tax Planning Considerations
Chapter 8 Compensation Planning
Chapter 9 Pension and Retirement Planning
Chapter 10 Multinational Tax Planning: Introduction and Investment Decisions
Chapter 11 Multinational Tax Planning: Foreign Tax Credit Limitations and Income Shifting
Chapter 12 Corporations: Formation, Operation, Capital Structure, and Liquidation
Chapter 13 Introduction to Mergers, Acquisitions, and Divestitures
Chapter 14 Taxable Acquisitions of Freestanding C Corporations
Chapter 15 Taxable Acquisitions of S Corporations
Chapter 16 Tax-Free Acquisitions of Freestanding C Corporations
Chapter 17 Tax Planning for Divestitures
Chapter 18 Estate and Gift Tax Planning

Myron S. Scholes
Mark A. Wolfson, Stanford University
Merle M. Erickson, University of Chicago
Michelle L. Hanlon
Edward L. Maydew, University of North Carolina
Terrence J. Shevlin

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