ACC 205 - Corporate and Partnership Tax Accounting

1. Compare different business entities and considerations applicable to those entities.
2. Apply the corporate tax rules and prepare a complex corporate tax return.
3. Demonstrate the application of Basis calculations for a partner in a Partnership.
4. Calculate Income, Expenses, and separately stated items in an S Corporation.
5. Analyze financial records with reference to tax preparation.
6. Demonstrate an understanding of taxation on Farmers.
7. Utilize tax research programs and tax return preparation software to analyze and complete various corporate, partnership, estate, and trust tax returns.

1. Business Entities and considerations
   1. Various types of business entities
   2. Accounting periods and methods
   3. Reporting requirements
2. Corporation
   1. Organization and capital structure
   2. Distributions, redemptions, and liquidation
   3. AMT and ATNOL
3. Partnerships
   1. Formation, operation, and filing requirements
   2. Distributions and contributions
   3. Basis calculations
   4. Dissolutions
4. S Corporations
   1. Formation, operation, and filing requirements
   2. Distributions and contributions
   3. Basis calculations
   4. Revocations, terminations, and reinstatements
5. Business Financial Information
   1. Income, Expenses, deductions, and credits
   2. Financial records analysis
6. Specialized Returns
   1. Trusts and Estates
   2. Exempt Organizations
   3. Retirement Plans