This paper discusses incorporating collaborative learning into accounting classes as a response to the Accounting Education Change Commissions call to install a more active student learner in the classroom. Collaborative learning requires the students to interact with each other and with the material within the classroom setting. It is a departure from the traditional lecture method of teaching. Additionally, the paper addresses opposition and support of collaborative learning. Obstacles to collaborative learning are delineated and strategies to counteract these obstacles are explained.
Service learning projects capitalize on the unique characteristics of Gen Z students and meet the requirements of the American Institute of Certified Public Accountants' (AICPA) core competencies. This project not only increased students' soft skills, making them more marketable to future employers, but also made a difference in the lives of the people served. Participants mastered managerial accounting topics through hands-on experiences that are often considered complex to grasp, which instilled inspiration and creativity. The findings of this paper may be useful to educators to increase student interest, as well as develop the AICPA's core competencies in future accountants.
In this paper we argue that public education in the United States is essentially an industrial process organized to produce a finished product. Rising government spending on public education, and the lack of an established rubric to evaluate school performance or accountability deems our analysis relevant and timely. Viewing education as an industrial process will allow policy-makers to obtain more accurate measures of costs and develop appropriate funding mechanisms. Furthermore, regulators may use managerial accounting concepts, particularly activity based costing, to establish future school performance evaluation rubrics.
<p class="MsoNoSpacing" style="text-align: justify; margin: 0in 0.5in 0pt; mso-pagination: none;"><span style="font-family: 'Times New Roman','serif'; color: black; font-size: 10pt; mso-themecolor: text1;">Two important provisions of the Internal Revenue Code were the creation of the Earned Income Tax Credit and Child Tax Credit. Each of these credits were designed to reduce the amount of tax owed, thereby offsetting some of the increases in living expenses and federal income tax. For many this results in a smaller a tax liability. For others with little or no tax liabilities, the credit can result in a significantly increased refund. Many organizations such as the Volunteer Income Tax Income (VITA) Program, AARP and other similar organizations, cater to assisting these individuals. This is primarily due to the benefits that come from these credits which not only affect these individuals and their families but also the local economies. Larger refunds result in greater sustainability of taxpayer economic stability as well as an ongoing stimulation to the local economy. The purpose of this presentation is to describe the results of a study conducted involving the examination of each of these credits in relation to the taxpayer’s Adjusted Gross Income (AGI). The goal of this study was to demonstrate the importance of these credits as to how they benefit the lower income taxpayers. The study examined various taxpayers who qualified for the credits over the course of the past three years. The results demonstrated that roughly 20% to 25% of these taxpayers’ annual income is attributed to the assistance provided through these credits. Therefore, the need for the continuance of these credits is not only crucial for the welfare of the lower taxpayers but for stimulating the economy as well.</span></p>
The Tax Relief Act of 1997 created an important tax provision which helped taxpayers offset the cost of higher education. This provision was in the form of education tax credits. Because a tax credit is a dollar for dollar reduction in tax liability, these education credits were designed to reduce the amount of tax due for college students or their parents. Introduced in 1998, and known as the Hope Scholarship and the Lifetime Learning tax credits, these credits were established to counterbalance the monies spent on tuition, fees, and some course materials during postsecondary education. While these credits proved to be beneficial to many taxpayers over the past decade, most recently, the signing of the American Recovery and Reinvestment Act (ARRA) of 2009 provided a new provision which was intended to increase access to education and to stimulate the economy. The ARRA of 2009 established for two years (2009 and 2010) the American Opportunity tax credit as a replacement for the Hope credit. Similar to the previous education credits, the American Opportunity tax credit helps students and families pay for post-secondary education. However, the most significant condition of this credit is that 40% of the American Opportunity tax credit is refundable and therefore available to households with little or no tax liability. Since refundable credits generate refunds over and above the withholding amount instead of just reducing the tax liability, the American Opportunity tax credit is available to the lowest income tax payers. As a result, it is possible for many taxpayers to receive a maximum amount of refundable credit of up to $1,000. Unfortunately, the American Opportunity credit is proposed to be available only on a taxpayers 2009 and 2010 tax return. After this time, the credit is expected to revert to its original form prior to the ARRA of 2009. Many taxpayers will no longer be eligible for the refundable portion of the credit nor many of its other beneficial provisions. Therefore, the purpose of this paper is to demonstrate the effectiveness of the new American Opportunity Credit and to show the need for the continuance of this credit that is not only crucial for the welfare of the lower to middle income taxpayers but the larger, refundable credit would extend educational assistance to low to moderate income students, making it easier for them or their parents to afford college and thus encouraging attendance.
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