ACCT 450 - Business Taxation

Credits: 5
An in-depth study of U.S. federal income tax concepts and their application to corporations and partnerships. Covers preparation of tax forms and tax planning.

Enrollment Requirement: Admission into the BAS in Accounting program; and ACCT 218 with a grade of 2.0 or higher; or instructor consent.

Course Fee: $25.00

Course Outcomes:
Students who successfully complete this class will be able to:

Apply U.S. federal income tax rules to compute corporate income tax liability and prepare Form 1120.
Report the operations of a partnership on Form 1065.
Account for income taxes in the financial statements.
Recognize and consider tax planning strategies and tax implications of business decisions.

Program Outcomes
Apply U.S. federal income tax rules, prepare federal income tax returns for individuals and businesses, and explain tax implications of business decisions.

College-wide Outcomes

Critical Thinking - Critical thinking finds expression in all disciplines and everyday life. It is characterized by an ability to reflect upon thinking patterns, including the role of emotions on thoughts, and to rigorously assess the quality of thought through its work products. Critical thinkers routinely evaluate thinking processes and alter them, as necessary, to facilitate an improvement in their thinking and potentially foster certain dispositions or intellectual traits over time.
Quantitative and Symbolic Reasoning - Quantitative Reasoning encompasses abilities necessary for a student to become literate in today’s technological world. Quantitative reasoning begins with basic skills and extends to problem solving.