Foothill CollegeApproved Course Outlines

Business and Social Sciences Division
ACTG 68BADVANCED TAX ACCOUNTING IISummer 2013
4 hours lecture.4 Units

Total Quarter Learning Hours: 48 (Total of All Lecture, Lecture/Lab, and Lab hours X 12)
 
 Lecture Hours: 4 Lab Hours: Lecture/Lab:
 Note: If Lab hours are specified, see item 10. Lab Content below.

Repeatability -
Statement: Not Repeatable.

Status -
 Course Status: ActiveGrading: Letter Grade with P/NP option
 Degree Status: ApplicableCredit Status: Credit
 Degree or Certificate Requirement: AA Degree,   Certificate of Achievement
 GE Status: Non-GE

Articulation Office Information -
 Transferability: CSUValidation: 12/13/10; 2/9/12

1. Description -
Current federal income tax law as it relates to corporations, estate, trust, and gift taxes.
Prerequisite: ACTG 67.
Co-requisite: None
Advisory: Eligibility for MATH 220 and ESLL 26.

2. Course Objectives -
The student will be able to:
  1. prepare income tax returns for corporations.
  2. prepare estate, trust, and gift tax returns.
3. Special Facilities and/or Equipment -
Access to spreadsheet, word-processing, presentation. When taught as an online distance learning section, students and faculty need ongoing and continuous Internet (java-enabled)and Email access.

4. Course Content (Body of knowledge) -
  1. The Corporation
    1. Form 1120
    2. Organizing.
    3. Corporate tax bill.
    4. Consolidated returns.
    5. "Tax-option" corporation.
  2. Estate, Trust and gift taxes
    1. Forms 1041, 706, and 709
    2. Introduction.
    3. Gross Estate
    4. Estate tax deduction.
    5. Valuation of property.
    6. Credits against estate tax.
    7. Estate tax procedures and computation.
    8. Deductions for distribution to beneficiaries.
    9. How beneficiary is taxed.
    10. Family trusts.
    11. Gift taxes
  3. Other
    1. Charitable Contributions
    2. Inventories
    3. The net operating loss
    4. Specially taxed corporations
    5. Capital charges
    6. Forms: 3800(General Business Credit), 6765(Credit for Increasing Research Activities)
    7. Highlights of Tax Changes
5. Repeatability - Moved to header area.
 
6. Methods of Evaluation -
  1. Examinations
  2. Quizzes
  3. Projects
  4. Tax return preparation
7. Representative Text(s) -
Willis, Eugene, William Hoffman, and David Maloney. Wests Federal Taxation 2012, Mason, Ohio: South-Western, 2012.

8. Disciplines -
Accounting
 
9. Method of Instruction -
Lecture, in class or electronic discussions, group work, case studies.
 
10. Lab Content -
Not applicable.
 
11. Honors Description - No longer used. Integrated into main description section.
 
12. Types and/or Examples of Required Reading, Writing and Outside of Class Assignments -
  1. Reading IRS Tax Publications and Form Instructions at http://www.irs.gov
  2. Reading California Publications and Form Instructions at http://www.ftb.ca.gov
  3. Reading the latest Federal Tax updates at the IRS website
  4. Reading the latest California Tax updates at the CA FTB website
  5. Reading Internal Revenue Tax Code and Regulations
  6. Reading of Wall Street Journal, Business Week, and Fortune
13. Need/Justification -
This course is a restricted support course for the AA degree in Accounting.


Course status: Active
Last updated: 2014-03-14 21:09:32


Foothill CollegeApproved Course Outlines