This course prepares students to prepare personal income tax returns. Tax regulations and processes are covered, with a goal of passing the certification exam to participate in Volunteers in Income Tax Assistance (VITA). Successful students will be certified through the IRS to partcipate in VITA Field Experience.
This course builds on ACC-2101 with further study of reporting and analysis of financial statements and understanding accounting for various business forms. The student will be exposed to managerial accounting, including job and process costing, cost-volume-profit analysis, operational expense and capital budgeting, and decision-making methods including time value of money.