Course Schedule


1                     The Individual Income Tax Return


2                     Gross Income and Exclusions



3                     Business Income and Expenses, Part I

4                     Business Income and Expenses, Part II

5                     Itemized Deductions and Other Incentives


6              Credits and Special Taxes

8              Capital Gains and Losses



Required Materials

  1. 1.       Textbook:  Income Tax Fundamentals, 2012 Edition, South-Western Publishing, Whittenburg and Altus-Buller


Exams 1 and 2 (30% each)                                  =              60%

Quizzes 1, 2, and 3 (5% each)                            =              15%

Comprehensive Problems                                 =              10%

Final Exam                                                                    =              15%

                                                                Total Points  =            100%       

  1. A make-up exam will be allowed for one semester exam. A second exam missed will count as zero.
  2. A zero will be given for each Quiz missed. Under no circumstances will a make-up be allowed.
  3. Students are expected to attend class, be prepared for class, and participate in class discussion.
  4. The instructor has original jurisdiction over grading, academic standards, and academic disciplinary matters.
  5. Class participation, along with attendance, and quality of student attitude and attentiveness will be used to resolve borderline grades. A student who walks into class after attendance is taken is responsible for notifying the professor after class.

Disability Services for Students: Students who feel they may need an accommodation based on the impact of a disability are encouraged to contact me privately as soon as possible to discuss your specific needs, so that an equitable method for evaluating your class performance can be worked out. Contact the Office of Disability Services for Students to coordinate reasonable accommodations. See for the DSS Coordinator’s contact information.

Instructor Contact Information

Office: Warwick Campus – Room 3079

Office Phone: 401-825-2251

FAX: 401-825-2370


Departmental Administrative Assistant: Carmen Vargas – 401-825-2252

Course Description: This course presents the objectives and basic procedures of accounting for a business organized as a corporation. Topics covered include the accounting cycle for service and merchandising firms, accounting for cash, short-and long-term investments, receivables, inventories, plant assets, intangible assets, current liabilities, long-term liabilities and stockholders’ equity.

Student Learning Outcomes: Upon successful completion of this course the student will acquire the listed skills:

Apply basic computational techniques to solve quantitative financial accounting problems.

Draw from financial information to construct a debit/credit transaction in good form

Demonstrate knowledge of the business accounting cycle for the corporate form of business

Identify and describe terms associated with financial accounting

Prepare and interpret a multiple-step income statement, retained earnings statement, and classified balance sheet for a merchandising firm organized as a corporation

Demonstrate knowledge of accounting for cash, receivables, inventory, and long-term assets

Atttendance: Lateness to class is the concern of the entire class, since late arrivals disrupt the teaching process. Therefore, students are expected to be seated when the class begins. If you enter the class after attendance has been completed, it is your responsibility to see the instructor after class to have your attendance recorded.


Class Participation: Class participation is encouraged and reworded. Students are expected to be prepared to discuss the material assigned for each class.

Handouts: Periodically, various handouts, articles, etc. will be distributed and may be included at the time of testing. It is the student’s responsibility to obtain this material if they are absent when the material was distributed.

Cancelled Class: If classes are cancelled due to inclement weather or otherwise, exams will be automatically scheduled for the next class meeting.

Course Drops: As the period for officially dropping a course draws near, each student should be aware of his or her standing in the class. If a student cannot determine his or her grade or has a question as to whether to continue the course, then he or she should see the instructor immediately.

Academic Dishonesty: The faculty and administration of CCRI believe that academic cheating and plagiarism are serious offenses which should not be overlooked. Students are cautioned that violations of academic integrity can result in both academic and disciplinary sanctions.

Dismissal: Among the rights you have is the right to a class environment that is free from distractions and one that is conducive to learning. Any student whose behavior impinges on this right will receive one warning. A second incident may bring dismissal from the course and a failing grade.

Consultation With Your Instructor: The instructor’s time is your time. You are urged to meet with me should you need any sort of help, information, or clarification. Sometimes students avoid meeting with their instructor because they think he or she is too busy or their problems are too small or their questions are not important. This kind of thinking is wrong. What usually happens is that such students wait to approach their instructor until it is too late for the instructor to give them anything but sympathy. So, you should make every effort to meet with me as soon as you realize that there are things about the lectures, the readings, the assignments, or the exams that you do not quite grasp.

This course outline is subject to change at any time at the discretion of the instructor. Students are responsible for keeping current with changes made to this course outline.

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