ACCT 2120 Income Taxation I

Learn to compute personal and corporate income tax liabilities under current legislation.

About this course

This course focuses on the computation of personal and corporate income tax liabilities under current legislation. You will gain the skills needed to navigate the complexities of the tax system, with a strong emphasis on practical application and problem-solving.

Through a series of assignments and examinations, you will learn to calculate taxable income, determine capital cost allowance, and prepare tax returns for both individuals and corporations. The course also covers essential tax planning strategies to help you advise clients or employers effectively.

Who takes this course

This course is a required component of the following programs:

• Accounting
• Accounting (Part-time)

Credits: 3 · Hours: 45

Prerequisites

• ACCT 1680 Managerial Accounting Concepts

Learning outcomes

• Calculate taxable income for individuals and corporations under current legislation.
• Determine capital cost allowance and tax implications of asset acquisitions.
• Prepare corporate income tax returns and related schedules.
• Identify tax planning opportunities for personal and business entities.
• Apply current tax legislation to practical financial scenarios.

Evaluation