A Study on the Establishment and Revitalization of Tax Accounting Courses to Strengthen Practical Competency
Asian Tax Journal Vol. 24 No. 5 (2023), pp. 119-142
Abstract
This study analyzes the status of tax accounting courses offered in business administration or accounting departments at major four－year universities across the country and proposes ways to introduce and revitalize new courses suitable for strengthening practical capabilities. Specifically, major four－year universities nationwide were divided into cases where accounting departments were established separately and cases where accounting departments were not established, and their characteristics were identified. The characteristics of tax accounting education, which require a high level of practical competency, require many changes and innovations in the educational environment along with the recent changes in the era such as the Fourth Industrial Revolution. The field of education in tax accounting also raises the need for convergence education in various ways. As a result of the study, the following three new courses are proposed. First, it is necessary to learn various tax accounting－related issues inevitably encountered during the start－up process through start－up tax accounting, and to actively solve them for prospective start－ups to acquire tax accounting knowledge and actively utilize them in the start－up process. Second, through import and export tax accounting, the ability to minimize errors related to tax accounting and to accurately pay VAT should be cultivated by learning the application of VAT small tax rates, input tax refunds, and various small tax rates, which are essential to the import and export process. Finally, through labor costs, four major insurances, and year－end settlement tax accounting, we will be able to prepare for various tax risks of labor costs in advance and efficiently manage the four major insurances that need to be handled monthly, while securing the ability to accurately apply various year－end settlement deduction items for earned income earners. The contribution of this study is that it proposed specific tax accounting courses to strengthen practical capabilities and presented lecture plans containing learning contents for each week. These specific lecture plans can be an important factor in enhancing the understanding of tax accounting education in the university education field, preparing for specific competencies directly required by the field through university education, and inspiring practical application of tax accounting students.
Keywords
- Education in Tax Accounting
- Practical Competency
- Start－ups
- Import and Export Tax Accounting
- Year－End Tax Adjustment