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ACC 261: Principles of Federal Taxation I (3 Credits)

Presents the study of federal taxation as it relates to individuals and related tax entities. Includes tax planning, compliance and reporting. Lecture 3 hours per week.

ACC 261 is a required course for the Accounting AAS and the Accounting career studies certificate. It is also designed as an elective course for students in any curriculum to learn current Federal Income Taxation concepts and laws as they apply to individual taxpayers, and then to use that knowledge for tax return preparation and tax planning.

Course Prerequisites/Co-requisites: None


Upon completion of this course, the student will be able to:

  1. Understand current tax laws and concepts and apply them to actual situations affecting individuals.
  2. Calculate taxable income and tax liability for individual taxpayers, with and without the actual Internal Revenue Service forms.
  3. Follow instructions and prepare commonly-used IRS forms and schedules for individual taxpayers.
  4. Minimize personal income taxes through application of concepts of tax planning.
  5. Identify sources of current information on tax matters.
  6. Keep the necessary financial data to prepare tax returns and do tax planning.
  7. Answer CPA exam questions that relate to individual federal income taxation.


Possible Assignments Include: (Subject to change each semester. The actual assignments are available in the Syllabus in the Blackboard course site on the first day of classes.)

Assignment Points Percentage of Grade
2 Exams - 50 points each 100 44%
4 Discussion Boards - 5 points each 20 10%
11 Quizzes - 5 points each 55 24%
10 Homework Assignments - 5 points each 50 22%
Total Points 225 100%

Your final grade will be based on the following scale - there is no extra credit allowed, and there is no curve - your grade is based solely upon meeting the course requirements.  The grade scale is a follows:

Grade Points Percent
A 202-225 90-100
B 180-201 80-89
C 157-179 70-79
D 135-156 60-69
F 0-134 0-59


There are 2 exams in this course.

ELI Policies and Procedures
Beginning the Course

Last Updated: February 16, 2016