ACC 40400 - Tax Accounting

Prerequisite(s): ACC 35000 FOR LEVEL UG WITH MIN. GRADE OF C- OR GBA 34000 FOR LEVEL UG WITH MIN. GRADE OF C-

Credit Hours: 3.00. An introductory course that emphasizes the taxation of individuals and sole proprietorships. A study of taxation law cases will be explored, but course will concentrate on practical applications of federal tax form preparation as it pertains to gross income inclusions/exclusions, adjustments, deductions, credits, and penalties. A computerized tax program will be used by the students. Selected topics include: sale of capital assets, deferred compensations plans, IRS practice and procedures, and personal tax planning. Typically offered Fall Spring Summer.
Course Learning Outcomes
1. Research and analyze tax concepts using the IRS Tax Code. 2. Identify the determinants of taxable income for personal and corporate returns. 3. Demonstrate the ability to work independently using tax software.

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