Topic 740: Tax Cuts and Jobs Act and Stock Market Trends (Completed)

On December 22, 2017, President Trump signed into law the tax legislation known as the Tax Cuts and Jobs Act (the “Act”) (Topic 740). The “Act” is one of the most-broad sweeping pieces of tax legislation to be implemented in many years. It’s impact to individuals, businesses, the economy and stock market will undoubtable be strong. The Act is expected to have both fiscal and economic impacts:
• Fiscal impact is the net impact on government of a particular project including costs incurred by public entities. This can represent how specific economic activity will affect the bottom line of a local and state government. Changes in a company’s tax obligation, such as tax exemptions, directly affect the fiscal impact and cannot be measured against pure economic impact.
• Economic impact examines the effect of an event on the economy in a specified area. Jobs, salaries and economic output are three common types of economic impacts used to describe activity and spending. Impact to the stock market can be seen as an economic impact.

The year began with record setting marks within the securities market. Market activity throughout the year has seen its share of volatility partly due to the Act and partly due to other economic factors such as the trade restrictions dealt by the U.S., political turmoil, cybersecurity concerns and other global business issues. These issue will continue to impact individuals and businesses as they begin feeling the sweeping changes brought by Topic 740.

This course will begin with a look at stock market trends and discuss the concepts of fiscal and economic impacts. We will then delve into the most significant changes brought on by the Act and evaluate how individuals and companies will need to be prepared into the future.

Topics Covered

• A look at stock market trends
• Discuss the concepts of fiscal and economic impacts
• Most significant changes brought on by the Act
• Evaluate how individuals and companies will need to be prepared into the future

Learning Objectives

• Recognize and apply 2018 stock market trends
• Identify the fiscal and economic impact of the Tax/Jobs Cuts Act (Topic 740)
• Explore the impact of the Tax Jobs/Cuts Act to individuals and businesses (Topic 740)
• Describe recent ASU tax updates and their purpose

Level
Update

Instructional Method
Group: Internet-based

NASBA Field of Study
Accounting (2 hours)

Program Prerequisites
A basic understanding of Topic 740.

Advance Preparation
None