Discipline: Accounting Degree Credit  [X]
Non Credit  [ ]
Nondegree Credit  [ ]
Comm Service  [ ]
 

Riverside Community College District
Integrated Course Outline of Record

Accounting 63


COURSE DESCRIPTION
63 Income Tax Acctng Units: 3.00
 
Prerequisite: None.
 
Theory and method of preparation of federal income tax returns for individuals. Actual forms are studied and returns are prepared. 54 hours lecture.
 
SHORT DESCRIPTION FOR CLASS SCHEDULE
Theory and method of preparation of federal income tax returns for individuals.
 
ADVISORY ENTRY SKILLS
None.

STUDENT LEARNING OUTCOMES
 Upon successful completion of the course, students should be able to:

Identify the correct purpose and tax form and apply an
understanding of the internal revenue code in preparing federal
income tax returns.

Accurately distinguish the difference between income tax
accounting, and traditional financial accounting.

Solve taxation problems through the use of case studies and the
application of current federal income tax code for individuals.
 
COURSE CONTENT
  TOPICS
 
  1. Purpose, form and content of income tax return.
  2. Income taxation and accounting.
  3. Income, exclusions, and deductions.
  4. Computation of tax.
  5. Tax credits, withholding and estimated payments.
  6. Fiscal year taxpayers and tax administration.
  7. Employee and self-employment expenses.
  8. Depreciation and Inventories.
  9. Home office and losses.
  10. Individual retirement accounts.
  11. Travel and entertainment.
  12. Property transactions.
  13. Capital gains and losses.
  14. Installment sales, like-kind exchanges.
  15. Sale of personal residence.
 
METHODS OF INSTRUCTION
 Methods of instruction used to achieve student learning outcomes may include, but are not limited to:

  • Present lectures to describe the essentials of identifying the correct purpose and tax form and apply an understanding of the internal revenue code in preparing federal income tax returns.
  • Develop and assign exercises to reinforce concepts and encourage students to apply them to current business and economic trends and events, which accurately distinguish the difference between income tax accounting, and traditional financial accounting.
  • Create and have students participate in cooperative learning tasks such as small group exercises to identify issues that relate to course content and utilize the content to offer opinions, solutions and analysis with respect to those issues.
  • Present exercises, problems and case studies to provide students with the opportunity to utilize concepts learned in class.
  • Develop and assign tasks/activities such as presentations and web exercises in order to solve taxation problems through the use of case studies and the application of current federal income tax code for individuals.
  • Facilitate discussions regarding relevant current issues in business to encourage students to make appropriate connections to the course content.
  • Instruction may take the form of online, hybrid, TV or other distance learning format.
 
METHODS OF EVALUATION
 Students will be evaluated for progress in and/or mastery of learning outcomes by methods of evaluation which may include, but are not limited to:

  • Individual, small group, or paired activities designed to allow students to demonstrate understanding of basic accounting concepts.
  • Quizzes, exams and in-class participation designed to demonstrate proficiency to identify the correct purpose and tax form and apply an understanding of the internal revenue code in preparing federal income tax returns.
  • Written reports designed to assess the application of accounting principles.
  • Individual or class projects designed to evaluate the application of accounting principles to individual situations and accurately distinguish the difference between income tax accounting, and traditional financial accounting.
  • Individual web projects designed to assess student proficiency to accurately solving taxation problems through the use of case studies and the application of current federal income tax code for individuals.
  • Final examination designed to provide objective evidence that students have attained the level of understanding expected in the areas detailed in the Student Learning Outcomes.
ASSIGNMENTS

Required Reading Assignments


Required Writing Assignments


Other Outside-of-Class Assignments
 
COURSE MATERIALS
 All materials used in this course will be periodically reviewed to ensure that they are appropriate for college level instruction. Possible texts include:

  • Hoffman, Smith and Willis. Individual Federal Taxation. any: Thomson-Southwestern, 2007.
  • Phillips and Kramer. Federal Taxation- Individual. any: Prentice-Hall, 2006.
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