Students will also be introduced to professional responsibilities in income tax preparation as adopted by the American Institute of Certified Public Accountants. The information in this class is complex and can be difficult at times. Students will generally not be required to memorize certain statutory amounts for testing purposes. Examinations will either be held on an open book basis or required statutory amounts will be provided. Students will be able to use the internal Revenue Code and Regulations for exams.
Students can then concentrate on the concepts rather than memorizing numbers.
Students can expect to spend approximately 8-10 hours per week, including class time to complete the problems assigned, the tax research and the tax problems assigned. Class time will be spent on lectures, reviewing homework assignments and discussing tax problems and cases. Numerous examples will be provided in class. Lectures will include information that is not necessarily in the text. Students are responsible for all information presented as well as the information in the text.