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AC 312 Business Income Tax
Atwater, Justin J.


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

F1QQ 2010 HIL

Faculty

Atwater, Justin J.

Title

Adjunct Faculty

Degrees/Certificates

BS Accounting - Brigham Young University
Master of Accounting - Brigham Young University
Juris Doctorate - University of Utah

Office Hours

Upon request

Daytime Phone

801-913-0258

Other Phone

801-415-3000

E-Mail

justin.atwater@park.edu

jatwater@djplaw.com

Semester Dates

08/16/10 - 10/10/10

Class Days

Mondays & Wednesdays

Class Time

7:30 - 10:15 PM

Credit Hours

3


Textbook:

Hoffman/Smith/Willis

South-Western Federal Taxation 2010: Corporations, Partnerships, Estates & Trusts South Western Cengage Learning

Additional Resources:

www.irs.gov

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Course Description:
AC312 Business Income Tax: A study of the current federal income tax law. Emphasis is on tax research and the problems faced by partnerships and corporations. Prerequisites: AC309, AC320 and CS 140 or equivalents. 3:0:3

Educational Philosophy:
Income taxes naturally lends themselves to hands on real-world application.  We will explore the united states income tax strucutre through in-class problem solving, group interaction, lectures and in-class discussion.  Students will devote out-of-class time to reading and solving sample problems and be prepated to engage in classroom disussion.  Students will demonstrate their mastery of the subject through quizess and examinations.

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.


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:

  • 3 Examinations - 2 Midterms and Final
  • 5 Quizzes - Randomly throughout term
  • 10 Assignments/Homework - Randomly throughout term
  • In-class participation/discussion
  • Grading:

    • 3 Examinations 
                   Midterm Exam 1 - 200 points 
                   Midterm Exam 2 - 200 points     
                   Final Exam -   300 points
    • 5 Quizzes - Extra Credit
    • 10 Assignments/homework - 20 points each/200 points total
    • In-class participation/discussion - 100 points

    The course grade for students will be based on the overall average of homework and tests taken during the course in accordance with the weighting of the various requirements as stated in the syllabus.

    All final exams in all School of Business courses will be comprehensive and will be closed book and closed notes. They will constitute 30% of the total course grade and will not be a take-home exam. They will be completed during the test week in the period designated by the registrar or by the Proctor in the case online courses. 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 Dean of the School of Business.

    Late Submission of Course Materials:
  • Examinations: no late submission will be allowed unless prior arrangement is made with the instructor or in extenuating circumstances.
  • Quizzes: no late submission will be allowed.  Quizzes will be administered randomly throughout the term.  If a student is not in attendance on a day a quiz is administered, no make-up will be permitted.
  • Assignments/Homework: assignments may be submitted late with a 5 point penalty for each week for which a given assignment is late.
  • Classroom Rules of Conduct:
    Each student is expected to attend every class unless excused.  Students are expected to come prepared to engage in classroom discussion and participate in real-world scenarios.  Distractions will not be allowed.  To foster a learning atmosphere, all distruptive students will be asked to leave.

    Course Topic/Dates/Assignments:
    August 16- Chapters 1 and 2 

    a.       Read: Chapters 1 and 2

    b.      Homework: Given in class

    2.      August 18- Chapters 1 and 2 Group Session

    3.      August 23 – Chapters 3, 4 and 5

    a.       Read: Chapters 3, 4 and 5

    b.      Homework: Given in class

    4.      August 25 – Chapters 3, 4 and Group Session

    5.      August 30 – Chapters 6 and 7

    a.       Read: Chapters 6 and 7

    b.      Homework: Given in class
     
    6.      September 1– Midterm Exam #1 (200 points) 
     
    a.       Preparation: Review Chapters 1-7, Homework questions and quizzes

    September 6 - Chapters 10 and 11 

    a.       Read: Chapters 10 and 11 

    b.      Homework: Given in class

    8.      September 8 - Chapters 10 and 11 Group Session  

     
    September 13– Chapters 12 and 13

    a.       Read: Chapters  12 and 13

    b.      Homework: Given in class

          September 15 – Midterm Exam #2 (200 points)   

    a.       Preparation: Review Chapters 10-13, Homework questions and quizzes

          September 20 - Chapters 16 and 17      
                     
                      a.       Read: Chapters 16 and 17 

    b.      Homework: Given in class

          September 22 – Chapters 16 and 17 Group Session 
          
    September 27 - Chapters 18 and 19      

                      a.       Read: Chapters 18 and 19  

    b.      Homework: Given in class

          September 29 - Chapters 18 and 19 Group Session

    October 4 – Review for Final Exam

    a.       Read: Chapters; notes, homework, quizzes 

          October 6 – Final Exam (300 points)

    a.       Preparation: Review Chapters, Homework questions, and quizzes

    b.      *Note: The Final Exam is comprehensive

    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 students and faculty members are encouraged to take advantage of the University resources available for learning about academic honesty (www.park.edu/current or http://www.park.edu/faculty/).from Park University 2010-2011 Undergraduate Catalog Page 92

    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. from Park University 2010-2011 Undergraduate Catalog Page 92-93

    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 "F".
    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 2010-2011 Undergraduate Catalog Page 95-96

    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:8/3/2010 12:46:28 AM