Taxation (TAXX) 304

Overview

The first part of this course focuses on individual taxation, including the calculation of adjusted gross income, taxable income, and tax liability. Next, property transactions, capital gains, and like-kind exchanges are examined. Finally, the taxation of corporations and flow-through entities is addressed.

This course has been approved by the Foreign Academic Credentials Service (FACS) in the United States as fulfilling the introductory tax requirement of the states it covers that require a U.S. tax course as a prerequisite for the CPA examinations. Note that different CPA state boards in the United States have different requirements and not all states require a U.S. tax course. This course is also suitable for helping CPA examination candidates prepare for the taxation portion of the CPA examinations or the CPA IQEX examination.

Outline

The course consists of the following ten lessons:

Lesson 1: An Introduction to Taxation

Lesson 2: Government Tax Structure and Tax Policy

Lesson 3: Determination of Tax

Lesson 4: Income, Exclusions, and Capital Gains

Lesson 5: Deductions, Losses, and Bad Debts

Lesson 6: Employee Expenses, Deferred Compensation, Depreciation, and Tax Accounting Methods

Lesson 7: Property Transactions

Lesson 8: Corporate Taxation

Lesson 9: Pass-Through Entities

Lesson 10: Tax Compliance and Tax Planning

Evaluation

Your final grade in this course will be based on two written assignments, a case study, and a final examination.

To receive credit for TAXX 304, you must achieve an overall course grade of at least “D” (50 percent). In addition, you must achieve a grade of at least “D” (50 percent) on the final examination. If your grade on the final examination is below 50%, you will not receive credit for this course, even if your overall course grade exceeds 50%.

The following table summarizes the weights that will be applied to each assignment and the final examination in determining your final grade:

Assign. 1	Assign. 2	Case Study	Final Exam.	Total
20%	20%	10%	50%	100%

To learn more about assignments and examinations, please refer to Athabasca University's online Calendar.