Tax and Accounting - Genesis University

Organization

Genesis University (formerly Association for Hebraic Studies Institute)

Credit Course Categories:

Descriptions and credit recommendations for all evaluated learning experiences

Advanced Taxation (ACC 353)

Length:

200+ hours

Dates:

January 2007 - Present.

Objectives:

Upon successful completion of the course, students will be able to: use the fundamental concepts of the federal income tax system as applied to individuals, corporations, and fiduciaries; prepare tax forms for individuals, partnerships, corporations and trusts; recognize tax planning opportunities and recommend appropriate tax-saving strategies for decision making; and apply the fundamentals of tax law and research to problem situations likely to be encountered in tax practice.

Instruction:

The course is offered in a distance learning format with instructor support, graded assignments, and a cumulative assessment. Topics include: individual determination of tax; gross income inclusions; gross income exclusions; property transactions; capital gains and losses; deductions and losses; itemized deductions; losses and bad debts;employee expenses and deferred compensation; depreciation; cost recovery; amortization and depletion; accounting periods and methods; property transactions; non-taxable exchanges; property transactions; Section1231 and recapture; special tax computation methods; tax credits; corporations- tax research; corporate formations and capital structure;corporate income tax; corporate nonliquidating distributions; other corporate tax levies; corporate liquidating distributions; corporate acquisitions and reorganizations; partnership formation and operation; special partnership issues; administrative procedures; gift tax; estate tax, income taxation of trusts and estates.

Credit recommendation:

In the upper division baccalaureate degree category, 6 semester hours in Accounting, Taxation, or Business OR in the graduate degree category, 3 semester hours in Accounting, Taxation, or Business (1/12) (10/17 revalidation) (2/25 administrative review).

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Federal Income Tax Course (ACC 200)

also known as Basic Taxation (ACC 200)

Length:

140+ hours

Dates:

January 2007 - Present.

Objectives:

Upon successful completion of the course, students will be able to: define the concepts, principles, and rules of taxation of individuals and small businesses; prepare tax forms for individuals and sole proprietorships; recognize tax planning opportunities and recommend appropriate tax-saving strategies for decision making; address tax situations for all types of taxpayers, such as wage earners, salespersons, small business owners, professionals, investors, home and rental property owners, farmers, etc.

Instruction:

The course is offered in a distance learning format with instructor support, graded assignments, and a cumulative assessment. Topics include: general tax principles, exemptions, the tax computation, gross income exclusions and inclusions, gain or loss on the sale or exchange of property, capital gains and losses, business deductions, other allowable deductions;accelerated cost-recovery, depletion and amortization, business and casualty losses, bad debts, self-employment tax, estimated tax, and payroll taxes, income tax withholding, tax credits, special provisions, ethics and regulations governing the practice of tax practitioners.

Credit recommendation:

In the lower division baccalaureate/associate degree category, 3 semester hours in Accounting, Taxation, or Business (1/12) (10/17 revalidation) (5/23 revalidation).

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