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Course Outlines
Course Outlines

Income Tax — ACCT 1406

  1. Course Description
    • Credits: 4.00
    • Lecture Hours/Week: 4.00
    • Lab Hours/Week: 0.00
    • OJT Hours/Week: 0
    • Prerequisites: None
    • Corequisites: None
    • MnTC Goals: None
    This course focuses of the Internal Revenue Code as it applies to individuals and businesses. Topics include foundations and concepts of tax law, income and deductions, calculating taxable income and income tax, and business income and deductions including depreciation. Preparation of tax forms on income tax software is an integral part of this course. Prerequisites: None
  2. Course Effective Dates: 2/20/98 – Present
  3. Outline of Major Content Areas
      As noted on course syllabus
  4. Learning Outcomes
    1. Understand fundamental tax law and concepts.
    2. Differentiate between taxable and pass-through entities.
    3. Determine income inclusions and exclusions.
    4. Determine "for" and "from" deductions.
    5. Calculate adjusted gross income, taxable income, and income tax.
    6. Determine income and deductions for business, including depreciation calculations.
    7. Research and prepare income tax returns using computerized software.
  5. Minnesota Transfer Curriculum Goal Area(s) and Competencies
  6. Learner Outcomes Assessment
      As noted on course syllabus
  7. Special Information
      None noted