The course introduces the student to the history and purposes of taxes within a modern economy. Taxation will concentrate on the Belizean tax system and trace the history of taxes in Belize. In addition, the course will examine the impact of taxation in the Belizean environment. Students will also be exposed to consumption tax and the administration and operation of taxes in Belize.

The course forms the second half of a two-semester course in Financial Accounting required for all CAPE Accounting major students. The course exposes students to and focuses on the fundamentals of Financial Accounting. Financial accounting deals with the recording, summarizing and communicating of the economic events of entities, based on established accounting principles, standards and legislation. This course will cover topics such as preparation of financial statements and disclosure requirements, financial reporting and interpretation including ratio analysis and its limitations, and the preparation of cash flows statements, and liquidation and receivership. 

The course introduces the student to and focuses on the concepts, methods, and procedures for the development and use of cost accounting information to support and assist management in their initial cost accounting processes. Cost accounting focuses on the cost of producing goods and services, assists in controlling costs in terms of material labor, and processes, and assists in calculating the selling price of products or services using different costing models. Moreover, it exposes students to the scope, similarities, and differences between managerial and cost accounting.

Additionally, to manage organizations effectively in the dynamic business environment, internal users, such as management, require knowledge, skills and the appropriate tools in planning, controlling, organizing, and decision-making. Therefore, Managerial Accounting is concerned with providing management with information from the accounting system as well as methods and techniques from other disciplines to help these managers make informed decisions that would allow them to decide which course of action to take. Students will also be exposed to different tools that aid decision-making such as the budgeting process, short- and long-term decision making including break even analysis, cost volume profit analysis, time value of money applications using net present value, discounted payback and internal rate of return, and non-discounting methods among others.  

The course forms the second half of a two-semester course in financial accounting and reporting that is required for all business students.  This course concentrates on the fundamentals of accounting for assets, liabilities, and equities for corporations.  It begins with Internal Control Systems, followed by Short Term Liquid Assets, Long Term Assets, Current Liabilities, Long Term Liabilities and Corporations.