Overview Objective Materials grading Exam ELI Policies and Procedures Contacting the Instructor Beginning the Course
ACC 262: Principles of Federal Taxation II - 3 Credits


ACC 262 Principles of Federation Taxation II is designed as an elective course in any curriculum for students to learn current Federal Income Taxation concepts and laws as they apply to individual partnerships and corporations, and other entities and topics.   Emphasis is on understanding tax law with application to practical situations and how to use that knowledge for tax return preparation and tax planning. This course will benefit you in many ways, including providing an understanding of (1) the federal tax system, (2) major substantive taxation topics, (3) tax planning opportunities and (4) tax compliance including return preparation.




ACC-261 is the prerequisites for ACC-262, and if you have not taken ACC-261 or have experience doing tax research using the Internal Revenue Code and tax case law, it is recommended that you have some prior accounting knowledge or income tax preparation experience,

If you do well in this course, you will be able to:

  • Understand federal taxation as it applies to corporations, partnerships, estates and trusts.
  • Understand current tax laws and concepts and apply them to actual situations affecting corporations, partnerships, estates and trusts.
  • Calculate taxable income and tax liability for corporations, partnerships, estates and trusts, with and without the actual Internal Revenue Service forms.
  • Follow instructions and prepare commonly-used IRS forms and schedules for corporations, partnerships, estates and trusts.
  • Minimize income taxes through application of concepts of tax planning.
  • Identify sources of current information on tax matters.
  • Keep the necessary financial data to prepare tax returns and do tax planning.
  • Answer CPA exam questions that related to corporations, partnerships, estates and trusts federal income taxation.



The required textbook for this course is:

  • CCH Federal Taxation:  Comprehensive Topics 2012
    by Smith, Harmelink, and Hasselback
    Published by  CCH Publishing

For information on how to order your textbooks, go to http://eli.nvcc.edu/books/


Your course grade will be determined by the quizzes and exams, according to the following points:

Possible Points
Percentage of Grade
Exams (2)
Discussion (10)
Quizzes (10)

Grading Scale

90-100 points


80-89 points


70-79 points


60-69 points

0 - 59 points



There are two (2) online proctored exams in this course. You are expected to take your examinations at one of the NVCC campus Testing Centers. Be sure to allow enough time to complete your exam before the Testing Center closes; Testing Centers have specific policies relating to the administration of ELI exams. You will need to take a photo ID, your NovaConnect empl ID number, and the appropriate Exam Pass when you go to the Testing Center.  

For Testing Center locations, hours of operation and policies, click here.

For information on taking exams outside of the metropolitan area, click here.


ELI Policies and Procedures


This is an Extended Learning Institute (ELI) course. ELI courses differ from campus courses in several important ways, including enrollment dates, communication with faculty, assignment completion requirements, and exams. You must follow ELI's policies and procedures if you take this course. Read (or review) ELI's Policies and Procedures before you begin the course. If you have questions, call ELI at (703) 323-3347 or (888) 435-6822.


Beginning the Course


1. Use your web browser to connect to http://www.nvcc.edu/bbstart. Follow the directions to determine your email, Blackboard and VIVA account user names and passwords.
2. Access your email account and make sure you know how to use it; you will be required to use this account for all course-related email.
3. Log on to Blackboard at http://learn.vccs.edu.
4. Click on this course under "My Courses." Review the entire course to make sure you understand what will be required of you. Then start completing the assignments.

Please note that account generation takes approximately one week from the time of your paid registration. If you cannot log on after one week, contact the IT Help Desk. If you can log on to Blackboard, but your course isn't listed, please contact ELI or your instructor.