Tax Preparation Specialist (TPS1)  Technical Certificate of Credit

Introduces the fundamental concepts terminology and operations necessary to use computers. Emphasis is placed on basic functions and familiarity with computer use. Topics include an introduction to computer terminology the Windows environment Internet and email word processing software spreadsheet software database software and presentation software.

Introduces the basic financial accounting concepts of the complete accounting cycle and provides the student with the necessary skills to maintain a set of books for a sole proprietorship. Topics include: accounting vocabulary and concepts the accounting cycle for a personal service business the accounting cycle for a merchandising business inventory cash control and receivables. Laboratory work demonstrates theory presented in class.

Introduces the intermediate financial accounting concepts that provide the student with the necessary skills to maintain a set of books for a partnership and corporation. Topics include: Fixed and Intangible Assets Current and Long-Term Liabilities (Notes Payable) Payroll Accounting for a Partnership Accounting for a Corporation Statement of Cash Flows and Financial Statement Analysis Laboratory work demonstrates theory presented in class.

Provides instruction for the preparation of individual federal income tax returns. Topics include: taxable income income adjustments schedules standard deductions itemized deductions exemptions tax credits and tax calculations.

Provides instruction for preparation of both state and federal partnership, corporation and other business tax returns. Topics include: organization form, overview of taxation of partnership, special partnership issues, corporate tax elections, adjustments to income and expenses, tax elections, forms and schedules, tax credits, reconciliation of book and tax income, tax depreciation methods, and tax calculations.