ACCT5235

This course will provide a foundation for understanding and calculating federal income tax liability for individual taxpayers, including net income from sole proprietorships. Students will analyze the authority for gross income, deductions, and credits and will determine how to report items on a federal income tax return. The course will also cover filing status, dependency, payment procedures, and accounting methods. Students will complete a U.S. Individual Income Tax Return (Form 1040) as a course project.

ACCT 5151 and ACCT 5235 replace ACCT 5135 in the accounting major and minor. ACCT 5151 is a required course in the accounting major, and ACCT 5235 is an elective option in the accounting major. Both ACCT 5151 and 5235 are elective options in the accounting minor. If credit is received for ACCT 5135, it cannot be granted for ACCT 5151 or ACCT 5235.

prereq: ACCT 5151 (can be taken concurrently)

013504

Every Fall