This course will analyze the components of the accounting systems and how the accounting data are captured, processed, stored and disseminated. The hands-on approach will be utilized by using the microcomputer and software that are currently being used in the workplace. Primary focus on general ledger accounting and payroll processing software. This course is designed to give the student a basic understanding of the federal income tax as it pertains to individuals. Reference is made to the latest tax forms and changes.
Emphasis is on the tax accounting concepts of the law.
Topics covered include income, exemptions, deductions, capital gains, tax rates and filing requirements. As a continuation of Accounting 205, this course is designed to give the student a basic understanding of the federal income tax as it pertains to partnerships and corporations. Constant reference is made to the latest tax forms. Demonstrations of problems and possible solutions are stressed. This course emphasizes theory and concepts and provides an in-depth study of principles, procedures and practices used in financial recording and reporting.