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AC 312 Business Income Tax
Castleman, Ronald


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.

Course

AC 312 Business Income Tax

Semester

F2L 2006 WT

Faculty

Castleman, Ronald

Title

Senior Instructor

Degrees/Certificates

BS, MBA, CPA

Office Location

433 E Russell -- Warrensburg, MO

Office Hours

By appointment

Daytime Phone

(660) 747-2033

Other Phone

(660) 441-2033

E-Mail

R.Castleman@park.edu

castr@charter,net

Semester Dates

10/23/06 - 12/17/06

Class Days

--T-R--

Class Time

7:40 - 10:20 PM

Credit Hours

3


Textbook:
Hoffman, Raabe, Smith, Maloney, West Federal Taxation:  Corporations, Partnerships, Estates & Trusts, South-Western Publishing, 2007 Edition

Additional Resources:

Library and internet

 

McAfee Memorial Library - Online information, links, electronic databases and the Online catalog. Contact the library for further assistance via email or at 800-270-4347.
Career Counseling - The Career Development Center (CDC) provides services for all stages of career development.  The mission of the CDC is to provide the career planning tools to ensure a lifetime of career success.
Park Helpdesk - If you have forgotten your OPEN ID or Password, or need assistance with your PirateMail account, please email helpdesk@park.edu or call 800-927-3024
Resources for Current Students - A great place to look for all kinds of information http://www.park.edu/Current/.

http://www.irs.gov

Course Description:
A study of the current federal income tax law. Emphasis is on tax research and the problems faced by partnerships and organizations. PREREQUISITES: AC309 , AC320 and CS140 or equivalents. 3:0:3

Educational Philosophy:
Students are expected to learn through studying the textbook, class discussions, and practical experience of the instructor.  Research should be done by using the internet, reviewing magazine articles, and the news.

Learning Outcomes:
  Core Learning Outcomes

  1. Prepare business income tax returns.
  2. Prepare gift tax returns.
  3. Prepare estate tax returns.
  4. Prepare trust tax returns.
  5. Research tax issues.
  6. Use computer software for tax planning and tax returns.


  Instructor Learning Outcomes
  1. Read and understand written communication.
Core Assessment:

The test examines each learning outcome with 20 questions. Eighteen multiple-choice questions will be based upon a distribution of critical thinking concepts applied to a learning outcome. Two questions will examine a communication/writing component. Each question will be weighted as 5 points. 

Link to Class Rubric

Class Assessment:
The student will be required to take numerous learning devices, two major tests, do two projects, give oral reports, and participate in class discussion.

Grading:

Points for the class:

200   Learning Devices

200   Project #1

100   Project #2

250   Test #1

250   Test #2

  50   Class Participation

  50   Oral Presentations of related current events (25 points each)

T

he minimim grading scale is as follows:

90% or above  ....... A

80%-90%  ............. B

70%-80%  ............. C

60%-70%  ............. D

Below 60% ............ F

 

Late Submission of Course Materials:
No work will be accepted late with prior approval of the instructor.  Should a student miss a class, the student is expected to complete the equivalent make-up work.  It is the student's responsibility to know what transpired during the missed class.  Such may be accomplished by talking with the instructor, talking with fellow students, or having the class recorded.

Classroom Rules of Conduct:
The student is expected to participate in classroom discussion and to show respect to fellow students and the instructor.

Meeting #1
October 24

Chapters 1 and 2

None

Meeting #2
October 26

Chapter 2

29, 30, 31, 36, 38, 42, 51

Meeting #3
October 31

Chapter 3

30, 35, 39

Meeting #4
November 2

Chapter 4

24, 29, 30, 31, 35, 37, 44, 47, 48, 49

Meeting #5
November 7

Chapter 5

9, 12, 16, 17, 18, 20

Meeting #6
November 9

Open

 

Meeting #7
November 14

Test #1

 

Meeting #8
November 16

Chapter 10

13, 14, 16, 17

Meeting #9
November 21

Chapter 11

17, 20, 26

Meeting #10
November 23

Chapter 12

24, 25, 38, 51, 55

Meeting #11
November 28

Chapter 13

31, 32, 35, 37, 38, 43, 46, 54

Meeting #12
November 30

Open

 

Meeting #13
December 5

Chapter 14

38, 40, 47, 51, 55, 63

Meeting #14
December 7

Chapter 17

26, 29, 34, 35, 42, 47, 50

Meeting #15
December 12

Chapter 19

21, 29, 40

Meeting #16
December 14

Test #2

 

 

 

 


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 2006-2007 Undergraduate Catalog Page 87-89

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. Park University 2006-2007 Undergraduate Catalog Page 87

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 "W".
  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 2006-2007 Undergraduate Catalog Page 89-90

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. 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 .



Rubric

CompetencyExceeds Expectation (3)Meets Expectation (2)Does Not Meet Expectation (1)No Evidence (0)
Evaluate and define accounting concepts identified by:                                                                                                                                                                                                     
Outcomes
2,3,4,5,6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
Evaluate and define the financial transaction(s) in order to record, adjust or correct per the Internal Revenue Service Code
Q1, Q4, Q8, Q12, Q15
100-80 %
 
Evaluate and define the financial transaction(s) in order to record, adjust or correct per the Internal Revenue Service Code
Q1, Q4, Q8, Q12, Q15
60-79%
 
Evaluate and define the financial transaction(s) in order to record, adjust or correct per the Internal Revenue Service Code
Q1, Q4, Q8, Q12, Q15
50-59%
 
Evaluate and define the financial transaction(s) in order to record, adjust or correct per the Internal Revenue Service Code
Q1, Q4, Q8, Q12, Q15
Less than 50%
 
Synthesize data to produce a logical flow of informational reporting  per established accounting rules and standards                                                                                                                                       
Outcomes
2,3,4,5,6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
Assemble the correct and ethical tax treatment for given transactions in order to prepare accurate tax returns per the Internal Revenue Service Code
Q3, Q6, Q7, Q11, Q14
100-80 %
 
Assemble the correct and ethical tax treatment for given transactions in order to prepare accurate tax returns per the Internal Revenue Service Code
Q3, Q6, Q7, Q11, Q14
60-79%
 
Assemble the correct and ethical tax treatment for given transactions in order to prepare accurate tax returns per the Internal Revenue Service Code
Q3, Q6, Q7, Q11, Q14
50-59%
 
Assemble the correct and ethical tax treatment for given transactions in order to prepare accurate tax returns per the Internal Revenue Service Code
Q3, Q6, Q7, Q11, Q14
Less than 50%
 
Analysis of transactional data                                                                                                                                                                                                                             
Outcomes
2,3,4,5,6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
Analyze financial transactions recorded in the book of original entry and adjust, record or post to prepare accurate tax returns per the Internal Revenue Service Code
Q2, Q5, Q9, Q10, Q13
100-80 %
 
Analyze financial transactions recorded in the book of original entry and adjust, record or post to prepare accurate tax returns per the Internal Revenue Service Code
Q2, Q5, Q9, Q10, Q13
60-79%
 
Analyze financial transactions recorded in the book of original entry and adjust, record or post to prepare accurate tax returns per the Internal Revenue Service Code
Q2, Q5, Q9, Q10, Q13
50-59%
 
Analyze financial transactions recorded in the book of original entry and adjust, record or post to prepare accurate tax returns per the Internal Revenue Service Code
Q2, Q5, Q9, Q10, Q13
Less than 50%
 
Application of established rules and logic per regulatory and commercial standards                                                                                                                                                                         
Outcomes
1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Demonstrate and interpret financial data for preparing business income tax returns in order to comply with the Internal Revenue Service Code
Q16, Q17, Q18
100-80 %
 
Demonstrate and interpret financial data for preparing business income tax returns in order to comply with the Internal Revenue Service Code
Q16, Q17, Q18
60-79%
 
Demonstrate and interpret financial data for preparing business income tax returns in order to comply with the Internal Revenue Service Code
Q16, Q17, Q18
50-59%
 
Demonstrate and interpret financial data for preparing business  income tax returns in order to comply with the Internal Revenue Service Code
Q16, Q17, Q18
Less than 50%
 
Content of Communication written essay                                                                                                                                                                                                                     
Outcomes
1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to
preparing business income tax returns
Question 20
100-80 %
 
Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to preparing business income tax returns
Question 20
60-79%
 
Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to preparing business income tax returns
Question 20
50-59%
 
Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to preparing business income tax returns
Question 20
Less than 50%
 
Technical Skill in Communicating written essay                                                                                                                                                                                                             
Outcomes
3                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Demonstrate the knowledge and skill to evaluate, apply and discuss tax solutions
Question 19
100-80 %
 
Demonstrate the knowledge and skill to evaluate, apply and discuss tax solutions
Question 19
60-79%
 
Demonstrate the knowledge and skill to evaluate, apply and discuss tax solutions
Question 19
50-59%
 
Demonstrate the knowledge and skill to evaluate, apply and discuss tax solutions
Question 19
Less than 50%
 

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Last Updated:9/8/2006 7:37:10 PM