Overview
Description
Analysis of the basic framework utilized in measuring and reporting taxable income of individuals and business entities.
Requirements
Prerequisites
- with a “C” or better
- Business major or minor or Master of Accountancy
ACC 201
Original catalog text
Prerequisites
ACC 201 with a “C” or better; Business major or minor or Master of Accountancy.
Units
Lecture3
Catalog Details
Offering
Offered: Every Fall and Spring
Terms
fall, spring
Restrictions
Business major or minor or Master of Accountancy
Attributes
StandardRepeatable
Learning Outcomes
- discuss US federal tax law, the basic tax concepts and the practice of the IRS as well as ethical issues related to practicing tax law.
- demonstrate a detailed understanding of the personal income tax formula.
- perform various calculations relating to the personal tax formula.
- recall basic tax concepts related to businesses; including the tax consequences of the acquisition and disposing of business assets.