Jul 18, 2024  
2022-2023 Catalog 
2022-2023 Catalog Archived

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 Course Policies  that include:

  • Identity Verification
  • Required materials for all online courses
  • Mandatory Attendance Requirement
  • Orientation and Support
  • Proctored Exams

Standard SCC Course Policies:
Please review the Standard Course Policies  on the following topics:

  • Academic Integrity
  • Add/Drop period
  • Attendance
  • Classroom Conduct
  • Equal Access
  • IT Access
  • Online Behavior
  • Online Confidentiality
  • Services For Students with Disabilities
  • Student Concerns
  • Student Help Services
  • Withdrawals

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