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AC 312 Business Income Tax
Kotwitz, Shaun


Mission Statement: The mission of Park University, an entrepreneurial institution of learning, is to provide access to academic excellence, which will prepare learners to think critically, communicate effectively and engage in lifelong learning while serving a global community.

Vision Statement: Park University will be a renowned international leader in providing innovative educational opportunities for learners within the global society.
CourseAC 312 Business Income Tax
SemesterS1J2005
FacultyKotwitz, Shaun
TitleSenior Instructor
Degrees/CertificatesC.P.A.
Daytime Phone913.967.2972
E-Mailkotwitz@mail.park.edu
Semester DatesJanuary 10, 2005 – March 6, 2005
Class Days--T----
Class Time5:30 - 9:50 PM
PerquisitesAC309 (Individual Income Tax); AC320 (Intermediate Accounting I); & CS140 (Introduction to Computers)
Credit Hours3

Textbook:
Hoffman, Raabe, Smith, & Maloney, West Federal Taxation:  Corporations, Partnerships, Estates, & Trusts 2005 Edition, Thomson/South-Western Publishing, 2005.

Textbooks can be purchased though the MBS bookstore


Course Description:
A study of the current federal income tax law. Emphasis is on tax research and the problems faced by partnerships and organizations.

Educational Philosophy:
To foster a learning environment that enables the learner to realize his/her greatest potential.  Specifically, this class teaches the learner to think critically; to communicate clearly; and to take ownership for his/her learning.

Learning Outcomes:
To obtain a comprehensive understanding of Federal income tax law as it pertains to corporate and partnership income taxes.  This understanding also will include a basic knowledge of how to prepare corporate and partnership income tax forms and schedules.

Course Assessment:
The course assessment will include three exams; two tax return problems; & homework problems.

Exams: Three exams will be given during this course.  Students will be notified in advance of changes in the material tested.  Material from the class discussions, in-class problems, homework problem, and tax return problems will be covered in the exams.

Homework Problems:  Homework problems will be assigned on material covered.  The problems to be completed will be assigned during the class period that the related chapter is discussed.  The homework problems will be due on the exam dates before taking the exam.  Homework problems submitted after this time will receive a lower grade.  Students should proactively make alternative arrangements to forward homework to the instructor, if necessary.  The in-class problems will be discussed in class but will not count directly in the student's final grades; though, this material will be covered on the exams.

Tax Problems:  Details related to the tax return problems will be given at least two class periods before they are due.

Grading:
Final Grades will be determined based upon the following:

Exam 1 (2-4) 140 18.9%
Exam 2 (5-7) 150 20.3%
Exam 3 (10-12) 150 20.3%
Homework Problems #1 (2-4) 50 6.8%
Homework Problems #2 (5-7) 50 6.8%
Homework Problems #3 (10-12) 50 6.8%
Tax Problem #1 70 9.5%
Tax Problem #2 70 9.5%
Attendance/Class Participation 10 1.4%
Total 740 100.0%

Late Submission of Course Materials:
If a student submits an assignment after a scheduled deadline, he/she will be penalized accordingly.

Classroom Rules of Conduct:
The classroom rules of conduct include the following:  1. Respect the instructor's decisions/requirements; 2. Respect other learners; 3.  Participate in classroom discussions/exercises; 4. Take ownership and complete assignments by given deadlines; 5. Notify instructor of any possible absences or missed deadlines; & 6. Any other rules that come up during the course of the semester.

WeekDateSubjectReadAssignment Due
Meeting - 11/11Corporations:  Introduction, Operating Rules, & Related Corporations
Corporations:  Organization & Capital Structure
Ch. 2
Ch. 3
 
Meeting - 21/18Corporations:  Earnings & Profits & Dividend Distributions

Explanation of Tax Problem #1
Distribution of Exam 1
Ch. 4 
Meeting - 31/25Corporations:  Redemptions & Liquidations
Certain Penalty Taxes Imposed on Corporations (No AMT)
Ch. 5
Ch. 6
Exam 1
Hwk. Probs. #1
Meeting - 42/1Corporations:  ReorganizationsCh. 7Tax Problem #1
Meeting - 52/8Partnerships:  Formation, Operation, & Basis

Explanation of Tax Problem #2
Distribution of Exam 2
Ch. 10 
Meeting - 62/15Partnerships:  Distributions, Transfer of Interests, & TerminationsCh. 11Exam 2
Hwk. Probs. #2
Meeting - 72/22S Corporations

Review for Exam 3
Ch. 12Tax Problem #2
Meeting - 83/1Exam 3 Hwk Probs. #3

Academic Honesty:
Academic integrity is the foundation of the academic community. Because each student has the primary responsibility for being academically honest, students are advised to read and understand all sections of this policy relating to standards of conduct and academic life.  
Park University 2004-2005 Undergraduate Catalog
Page 101

Plagiarism:
Plagiarism involves the use of quotations without quotation marks, the use of quotations without indication of the source, the use of another's idea without acknowledging the source, the submission of a paper, laboratory report, project, or class assignment (any portion of such) prepared by another person, or incorrect paraphrasing. <a href="http://www.park.edu/catalog">
Park University 2004-2005 Undergraduate Catalog</a> Page 101

Attendance Policy:
Instructors are required to maintain attendance records and to report absences via the online attendance reporting system.

  1. The instructor may excuse absences for valid reasons, but missed work must be made up within the semester/term of enrollment.
  2. Work missed through unexcused absences must also be made up within the semester/term of enrollment, but unexcused absences may carry further penalties.
  3. In the event of two consecutive weeks of unexcused absences in a semester/term of enrollment, the student will be administratively withdrawn, resulting in a grade of "WH".
  4. A "Contract for Incomplete" will not be issued to a student who has unexcused or excessive absences recorded for a course.
  5. Students receiving Military Tuition Assistance or Veterans Administration educational benefits must not exceed three unexcused absences in the semester/term of enrollment. Excessive absences will be reported to the appropriate agency and may result in a monetary penalty to the student.
  6. Report of a "F" grade (attendance or academic) resulting from excessive absence for those students who are receiving financial assistance from agencies not mentioned in item 5 above will be reported to the appropriate agency.

Park University 2004-2005 Undergraduate Catalog Page 100
Attendance/Class Participation: Attendance will be taken at the beginning of each class period.  Students are expected to attend class and to participate in class discussions.  Attendance/Class Participation will be worth 10 points of each student's final grade and will be earned according to the following schedule:
Present less than six times…………..0 Points
Present six times…………………….5 Points
Present seven or more times……….10 Points

Disability Guidelines:

Park University is committed to meeting the needs of all students that meet the criteria for special assistance. These guidelines are designed to supply directions to students concerning the information necessary to accomplish this goal. It is Park University's policy to comply fully with federal and state law, including Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, regarding students with disabilities. In the case of any inconsistency between these guidelines and federal and/or state law, the provisions of the law will apply. Park University is committed to meeting the needs of all learners that meet the criteria for special assistance. These guidelines are designed to supply directions to learners concerning the information necessary to accomplish this goal. It is Park University's policy to comply fully with federal and state law, including Section 504 of the Rehabilitation Act of 1973 and the American with Disabilities Act of 1990, regarding learners with disabilities and, to the extent of any inconsistency between these guidelines and federal and/or state law, the provisions of the law will apply. Additional information concerning Park University's policies and procedures related to disability can be found on the Park University web page:
http://www.park.edu/disability
 
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Copyright:
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