First Name:
Rachel
Last Name:
Pope
Major Department:
Accounting
Thesis Director:
Wilkes Baker
Date of Thesis:
May 2009
The world is quickly approaching an era of globalization that is intertwining and narrowing the breadth of the business world through technological innovations. As technology continues to advance it is deterring many obstacles corporations have faced in the past. Cultural barriers, time zones and geographical borders no longer greatly impact the ability of a business to easily function. Currently, the accounting profession faces the daunting challenge of evolving to better adapt, align and suit a complex new breed of business. In today’s world, many corporations are spanning state and national borders with little difficultly. The traditional method of geographical accounting no longer has the ability to apportion taxable income fairly. Therefore, these complex organizations are the catalyst for an increasingly difficult and intricate method of taxation. The following is a more detailed discussion of the implications of the state reporting structure with regard to multi-state corporations. A studied conclusion is then presented about the repercussions of mandating combined reporting with regard to multi-state corporations that qualify as a unitary business.