Income Tax Accounting
  • Type Validation
  • Level Intermediate
  • Time Months
  • Cost Paid
Additional Details

Income Tax Accounting

Issued by Northeastern State University

An introduction to federal and state income tax laws and regulations including taxable and nontaxable income, deductions, credits, types of entities, ethics, tax research and tax planning. Badge earners must complete the following course: ACCT 3003 - Income Tax Accounting

  • Type Validation
  • Level Intermediate
  • Time Months
  • Cost Paid
Additional Details

Skills

Earning Criteria

  • Instructional strategies include: audio visual materials, discussion, computer-based training, practical exercises, lectures.
  • SLO 1. Compare and contrast the major features of different tax systems.
  • SLO 2. Identify the authoritative sources of federal tax law.
  • SLO 3. Apply the rules for determining tax filing status and dependency exemptions.
  • SLO 4. Correctly distinguish between taxable and non-taxable income.
  • SLO 5. Correctly identify tax deductions and adjustments to income.
  • SLO 6. Compute cost recovery for fixed assets.
  • SLO 7. Calculate the amount of recognized gain or loss, basis in, and the appropriate tax treatment for: capital assets, like-kind exchanges, 1231 & 1245 asset transactions property
  • SLO 8. Identify the tax consequences of using different types of business entities.
  • SLO 9. Understand and apply the ethical rules and principles of tax practice.