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AC 312 Business Income Tax
Corwin, Theodore


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

S1E 2007 PE

Faculty

Corwin, Theodore

Title

Senior Professor/Business

Degrees/Certificates

MBA/Business Management

Office Location

ON-Line/Theodore.Corwin

Office Hours

Open

Daytime Phone

760-966-1965 Message & Fax

E-Mail

Theodore.Corwin@park.edu

scapo@cox.net

Semester Dates

January/15/07 to- March/11/07

Class Days

-M-W---

Class Time

4:45 - 7:15 PM

Prerequisites

AC201, AC202 and AC 309

Credit Hours

3


Textbook:
W. Hoffman, W. Raab, J. Smith and D.Maloney;West Federal Taxation CORPORATIONS, PARTNERSHIPS,ESTATES AND TRUSTS, 2007 edition, Thomson/South-Western Publication Text only or Text & CD  or Loose Leaf Edition. Note of concern: The text is for the tax year 2006, but is titled as 2007. Please establish that fact when ordering.

Textbooks can be purchased through the MBS bookstore

Additional Resources:
On-line Federal taxation publications and referance websites.

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.
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Resources for Current Students - A great place to look for all kinds of information http://www.park.edu/Current/.


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

Educational Philosophy:
Establish a classroom where ideas can be shared, students can be challenged in areas of topic learning and real knowledge can be exchanged.Interactiveness based on lectures,readings, quizzes, dialogues, examinations, Internet, Vidos, websites as well as outside writings and personel experance are the conditions necessary to support student learning.

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. Understanding of Corporate structor as related to taxation
  2. Gain ability to file Corporate Tax filings
  3. Connect GAAP Accounting Records to taxation requirements
  4. Expand the students knowledge of Tax Planning needs
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:
Testing both Midterm and Final along with  Quizzes, Presentations, Homework assignments  Participation in class and Special reports(can be used).

Grading:
Grades based on the following: Midterm .............15% Final examination....30% Homework.............30% Class participation..10% Position/term paper..15%

All final exams will be comprehensive and will be closed book and closed notes.  If calculators are allowed, they will not be multifunctional electronic devices that include features such as: phones, cameras, instant messaging, pagers, and so forth.  Electronic Computers will not be allowed on final exams unless an exception is made by the Associate Dean.

Late Submission of Course Materials:
Late assignments will be accepted with a reduction in grade. This is conditional in that a time dealy may be acceptable. An assignment missed and turned in a week late or at maybe two weeks can be accepted. The 1st weeks homework turned in in the 7th week is not acceptable. Missed class still requires all work to be turned in on time. You can use the email system if necessary. Please turned in missed work on time or ASAP.

Classroom Rules of Conduct:
Come to class on time. You should have necessary text books and support tools (calulator,pape etc) Please pre-read assigned chapters and be finished and be able to talk on the chapter subject. You are required to keep your own records regarding all assignments You must lable and put your name on all your work  Be open to the instructors methologys it may be diffeerent but seeing things from different views gives you better understanding. You must let your instructor know of any conditions which restrict your active participation in class. If you need consideration or help please ask for a one on one meeting to share your needs in a timely process.

Course Topic/Dates/Assignments:

Readings Homework assigned in class:
01/15, Martin Luther King Jr. Day,  Read  Chapter 1
01/17, Wednesday Chapter 2 end of chapter problems
01/22, Monday Ch 3 end of chapter problems
01/24, Wednesday  Chapter 4/5 end of chapter problems
01/29,  Monday  Ch 6 end of chapter problems
01/31, Wednesday Chapter 7 end of chapter problems
02/05, Monday Chapter 8 end of chapter problems
02/07, Wednesday  Chapter 9 end of chapter problems
Mid term testing at end of week 4 or start of week 5
02/12,  Monday  Chapter 10 end of chapter problems
02/14,  Wednesday Chapter 11 end of chapter problems
02/19,  President Day , Read Chapter 12
02/21,  Wednesday Chapter 13/14 end of chapter problems
02/26,  Monday Chapter 15/16 end of chapter problems
02/28, Wednesday   Chapter 17/18 end of chapter problems
03/05 M Chapter 19 end of chapter problems
03/07  Wednesday  Final examination

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:12/22/2006 8:15:46 PM