Sep 30, 2020  
2020-2021 Catalog 
2020-2021 Catalog

ACC 224 - Business Taxation

Class: 3 Credits: 3
This course is an introduction to tax reporting requirements and taxation of the proprietorship, partnership, S Corporation, C Corporation, and limited liability company. Some form preparation is required.

Prerequisite(s): Take ACC 124  with a minimum grade of “C”.
Course Topics:
  • Components of the U.S. Tax Law System
  • Concept of Gross Income
  • Business Deductions
  • Gains and Losses
  • Components of Property Transactions
  • Evaluation of Corporations
  • Principles of Partnerships, S-Corporations and Limited Liability Entities

Textbook information can be found on the Book Inn Web site
Required Materials:
Computer and Internet Access.
Grading System:
An overall grade of C or higher is required for transferability.

A 90 - 100
B 80 - 89
C 70 - 79
D 60 - 69
F 0 - 59

Student Learning Outcomes:
  1. Identify and explain the components of tax as it relates to the U.S. Tax Law and system.
  2. Analyze the impact of taxes on financial statements.
  3. Explain the concept of Gross Income.
  4. Evaluate Business Deductions.
  5. Evaluate the components of Property Transactions.
  6. Identify Losses and loss limitation.
  7. Explain the principles and tax effects of partnerships, S-Corporations and Limited Liability entities.
  8. Identify the comparative forms of doing business.
  9. Evaluate the tax implication of corporations.

For SCC Online Courses:
If the course you are taking is online, please review the SCC Online Policies that include:

  • Required materials for all online courses
  • Mandatory Attendance Requirement
  • Proctored Exams

Face Covering Requirements:
All faculty, staff and students must wear a face mask/covering at all times (absent a medical condition) on all SCC campuses when safe social distancing measures are not possible or difficult to follow. For further details, refer to the Student Guidelines for Face Coverings and Social Distancing on the SCC Coronavirus COVID-19 Information page.
Standard SCC Course Policies:
Please review the Standard SCC Course Polices on the following topics:

  • Academic Integrity
  • Academic Misconduct
  • Add/Drop period
  • Appeals Process
  • Class Attendance
  • Classroom Behavior (traditional and online)
  • Classroom Conduct/Expectations
  • Lab Procedures (general SCC policy regarding this)
  • Online Confidentiality
  • Services For Students with Disabilities
  • Withdrawal Policy

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