COURSE DESCRIPTION

Principles of Federation Taxation as applied to partnerships, corporations and other entities and topics. Emphasis is on understanding tax law with application to practical situations. Lecture 3 hours per week.

GENERAL COURSE PURPOSE

ACC 262 is designed as an elective course in any curriculum for students to learn current Federal Income Taxation concepts and laws as they apply to individual partnerships and corporations, and then to use that knowledge for tax return preparation and tax planning.

ENTRY LEVEL COMPETENCIES

None

COURSE OBJECTIVES

Upon completion of this course, the student will be able to:

A. Understand current tax laws and concepts and apply them to actual situations affecting partnerships and corporations.
B. Calculate taxable income and tax liability for individual taxpayers, with and without the actual Internal Revenue Service forms.
C. Follow instructions and prepare commonly-used IRS forms and schedules for taxpayers.
D. Minimize income taxes through application of concepts of tax planning.
E. Identify sources of current information on tax matters.
F. Keep the necessary financial data to prepare tax returns and do tax planning.
G. Answer CPA exam questions that relate to partnerships and corporations Federal Income Taxation.

A. Student participation by bringing in tax articles from various newspapers and periodical.
B. Practical experience in preparation of tax forms for assigned tax problems.
C. Introduction to basic tax research methodology.

None

Revised 1/96