OAKTON COMMUNITY COLLEGE

GENERIC COURSE SYLLABUS

 

I.          Course             Course             Course

            Prefix              Number           Name                                       Credit     Lecture        Lab

            ACC                244                  Income Tax Accounting            3              3                0

 

II.        Course Prerequisite:

Recommended:  ACC 153

 

III.       Course (Catalog) Description:

Course offers practical study of current federal and Illinois state income tax concepts, requirements, procedures and forms as they relate to businesses and individuals.  Content includes income inclusions and exclusions, capital gains and losses, business and personal deductions and accounting methods.  Computerized tax software used.

 

IV.       Learning Objectives

Student will learn to apply the income tax laws as they relate to the following topics:

A.  Tax Computations

B.  Income Inclusions and Exclusions

C.  Capital Gains and Losses

D.  Business and Personal Deductions and Credits

E.  New Tax Law

F.  Tax Research

 

V.        Academic Integrity:

Students and employees at Oakton Community College are required to demonstrate academic integrity and follow Oakton’s Code of Academic Conduct. This code prohibits:

 

·         cheating,

·         plagiarism (turning in work not written by you, or lacking proper citation),

·         falsification and fabrication (lying or distorting the truth),

·         helping others to cheat,

·         unauthorized changes on official documents,

·         pretending to be someone else or having someone else pretend to be you,

·         making or accepting bribes, special favors, or threats, and

·         any other behavior that violates academic integrity.

 

There are serious consequences to violations of the academic integrity policy. Oakton’s policies and procedures provide students a fair hearing if a complaint is made against you.  If you are found to have violated the policy, the minimum penalty is failure on the assignment and, a disciplinary record will be established and kept on file in the office of the Vice President for Student Affairs for a period of 3 years.

 

Details of the Code of Academic Conduct can be found in the Student Handbook.

 

 

 

VI.       Outline of Topics

- In Example -

Ch 3    Overview

Ch 4    Gross Income

Ch 5    Exclusions

Ch 6    Deductions - General, Trade or Business

Ch 7    Business/Investment Losses and Passive Activity Losses

Ch 10  Property Transactions - Basis Determination & Gains & Losses

Ch 11  Property Transactions - Treatment of Capital & 1231 Assets

Ch 9    Tax credits, Prepayments & Special Methods

 

VII.     Methods of Instruction 

- In Example -

A.        Lecture & Discussion

B.        Problem Solving

C.        Case Problems

 

VIII.    Course Practices Required

- In Example -

Students must perform on a college level in reading, writing, problem solving, oral presentation and tax research.

 

IX.       Instructional Materials:

- In Example -

            Text:    Intermediate Accounting by Keiso, Weygandt, Warfield 12th Edition with FASB Update,                                   Looseleaf Edition w/Wiley Plus access code

 

X.        Methods of Evaluating Student Progress

- In Example -

A.        Three Tests (100 points each)

Final Exam (200 points)

Homework (6 points each)

Quizzes (10 points each)

Projects/Cases (50 points each)

Attendance is considered if a student is between grades.

B.        A point scale based on total possible points.

90 - 100% = A

80 -  89% = B

70 -  79% = C

60 -  69% = D

59% & Below F

 


XI.       Other Course Information

            If you have a documented learning, psychological, or physical disability, you may be entitled to reasonable academic accommodations or services.  To request accommodations or services, contact the ASSIST office in the Learning Center.  All students are expected to fulfill essential course requirements.  The College will not waive any essential skills or requirements of a course or degree program.

 

 

 

Effective beginning term  Summer 2006                    ending term                

                                          (term)  (year)                                   (term)  (year)

 

Syllabus prepared by:   Jay Cohen          

 

Reviewed by Dept/Program chair: Jay Cohen           

 

Approved by Dean:  Bradley P. Wooten        May 2006