Taxation Concepts

Taxation Concepts

This course is part of CPA Licensure Prep: Special Topics in Accounting Specialization

Instructor: William Karalius

Access provided by ExxonMobil

4 modules

Gain insight into a topic and learn the fundamentals.

Intermediate level

Recommended experience

5 hours to complete

Flexible schedule

Learn at your own pace

4 modules

Gain insight into a topic and learn the fundamentals.

Intermediate level

Recommended experience

5 hours to complete

Flexible schedule

Learn at your own pace

What you'll learn

Explain how the Internal Revenue Code, Treasury Regulations, and other guidance shape corporate tax enforcement and compliance.
Analyze how C corporations and S corporations report income, expenses, and depreciation on key tax forms such as Forms 1120 and 1120-S.

Skills you'll gain

Details to know

Shareable certificate

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Assessments

5 assignments

Taught in English

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This course is part of the CPA Licensure Prep: Special Topics in Accounting Specialization

When you enroll in this course, you'll also be enrolled in this Specialization.

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There are 4 modules in this course

Learn the fundamentals of corporate taxation in the United States and how tax rules influence business decisions and compliance. In this course, you’ll explore how federal tax laws are structured and enforced, focusing on the Internal Revenue Code, Treasury Regulations, and the hierarchy of tax guidance used by accountants and tax professionals.

You’ll examine how corporate taxation applies to different business structures, including C corporations and S corporations, and review how these entities report financial activity for tax purposes. The course introduces key components of corporate tax compliance, including Forms 1120 and 1120-S, and explains how businesses report income, expenses, depreciation, compensation, and gross receipts. Throughout the course, you’ll analyze practical scenarios that show how tax guidance affects real business decisions. By the end, you’ll understand how corporate tax rules shape compliance, reporting, and planning strategies used by businesses and their advisors. This course is designed for learners seeking a practical introduction to corporate taxation and provides foundational knowledge useful for accounting, tax, and finance careers.

In this module, you’ll explore the major ways businesses are legally required to pay taxes in the United States. You’ll examine the key standards tied to the internal revenue code, the treasury regulations, and the tax guidance hierarchy. By the end of the module, you’ll be prepared to recognize the key features of the guidance hierarchy and understand why these distinctions are foundational for accountants and business advisors.

What's included

5 videos3 readings2 assignments

5 videos Total 28 minutes

Instructor Introduction and Course Overview 4 minutes
Overview of Taxation and Enforcement 7 minutes
Internal Revenue Code 7 minutes
Treasury Regulations 5 minutes
Other IRS Guidance 7 minutes

3 readings Total 45 minutes

Course Outline 5 minutes
How Taxes Are Enforced 20 minutes
Tax Guidance Hierarchy 20 minutes

2 assignments Total 30 minutes

Practice Assessment: Internal Revenue Code 10 minutes
Graded Assessment: Module 1 20 minutes

In this module, you’ll explore the major ways C Corporations and S Corporations are legally required to comply with tax laws in the United States. You’ll examine the key standards tied to the internal revenue code, the treasury regulations, and more as they pertain to C Corporations and S Corporations. By the end of the module, you’ll be prepared to recognize the key features of tax compliance and understand why these distinctions are foundational for accountants and business advisors.

What's included

4 videos2 readings1 assignment

In this module, you’ll explore in more detail some of the more significant items on the Form 1120 tied to C Corporations. You’ll examine the restrictions and qualifications for particular types of revenues and expenses. By the end of the module, you’ll be prepared to recognize the key features of various line items that are reported on the Form 1120 for C Corporations.

What's included

4 videos2 readings1 assignment

This final module brings everything together. You’ll review key concepts from the course and apply what you’ve learned to real-world business situations. By stepping back and looking across taxation rules, you’ll strengthen your ability to analyze how tax laws influence how businesses comply with regulators and plan to mitigate taxes owed—skills that are essential for accountants and business professionals alike.