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AC 309 Individual Income Tax
Fritch, Jacque L.


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 309 Individual Income Tax

Semester

F1J 2011 IN

Faculty

Fritch, Jacque L.

Title

Adjunct Faculty

Degrees/Certificates

BSB, Accounting  University of Kansas 1980
MBA,Finance  University of MO @ KC  2000
CPA and Enrolled Agent

E-Mail

jacque.fritch@park.edu

Semester Dates

August 15 through October 9th, 2011

Class Days

-Th-----

Class Time

5:30 - 9:50 PM

Prerequisites

AC201 and CS140

Credit Hours

3


Textbook:

South Western/Cengage Learning , Federal Taxation,  ISBN 10: 1-111-22167-7 
Individual Income Taxes, 2012 edition with tax software bound in book  (we will use this)
Hoffman/Smith

Textbook can be purchased through the MBS Bookstore.  Must buy the new textbook- not an ebook or used book will do.  Get it early because you need to read Chapter 1&2 before week 1.

Additional Resources:
There are many resources that are free.  We will discuss a couple in class and use them. 

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/.


Course Description:
A study of the current Federal Income Tax law with emphasis on its application to individuals as part of a cooperative effort with the Internal Revenue Service. PREREQUISITES: AC201 and CS140 3:0:3

Educational Philosophy:
This facilitator's educational philosophy is one of involving the students in classroom time, based on reading and preparing for class with the textbook, and making a good faith attempt at every homework problem.  We will also increase the student's comfort with income tax software and paper forms, and internet resources about this subject.  Emphasis and encouragement is given to exploring this area and its general rules, that once learned, can be further explored to make the subject more interesting and relevent.

Learning Outcomes:
  Core Learning Outcomes

  1. Prepare a federal individual income tax return utilizing computer software.
  2. Gather and understand the significance of source documents necessary to prepare an individual tax return.
  3. Use a computer to report tax information and apply the various rules relating to filing status in order to calculate taxable income.
  4. Calculate depreciation expense, Form 4562, utilizing MACRS, ADS, Bonus and Section 179 where applicable, and knowing the limitations o listed property.
  5. Apply Section 162 of the Internal Revenue Code and the parameters for the deductibility of business expenses.
  6. Apply the income tax rules which apply to deductions "for" and "from" adjusted gross income in order to calculate taxable income.


Core Assessment:

Description of the Core Assessment Instrument   Final Exam  

This assessment is designed to assess Core Learning Outcomes #1 - #6 and will make up 30% of the course grade

Link to Class Rubric

Class Assessment:

Students must read all the textbook assignments prior to class to enable their understanding for the lecture and in class work time. Participation in class reflects this committment to the reading, and will be included as part of the homework grade.

Assigned homework deserves a good faith attempt and is turned in at the beginning of class, with credit given for effort.  Homework not turned in on time cannot be made up.

One quiz and one final will be given, and the other weeks will have required homework. Some work will be classroom team based and other you will do in between classes.   Missing any week of class will therefore affect your grade since you will miss the team work and chance to participate in class.  Homework  that is not turned in due to a  missed  class must be sent via email to the instructor the same day they are due(return receipt to be sure that I get it).  If they are received that same day, they will be considered  on time.  Otherwise, they will be docked.
It is not the instructor's job to remind students of missed work.  If you do not turn it in, you get 0 credit.

Grading:

1 Quiz     20% grade 
1 Final     30% grade  
Homework, which includes class participation  50%
Grade Range of % scores accumulated from the areas described above
A 100%-90%       432 pts-480 pts
B 89%-80%         384 pts - 431 pts
C 79%-70%         336 pts-383 pts
D 69%-60%        288 pts -335 pts
Below D Less than 60%

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:
As discussed above, anything turned in on time either in class or via email(get a return receipt on it just to be safe) will receive full credit.  If you have to miss the quiz for any reason, let me know ahead of time, and we will discuss when you will make it up, either beforehand (full credit) or afterwards(docked).  If you know you will miss more than 2 classes, for ANY reason, I would suggest you sign up for this class at another time; you will miss too much to be able to fulfill your requirements. This class  moves very quickly, so be SURE to READ the first two chapters before you come to class week 1. 

Classroom Rules of Conduct:

Cell phones are off, unless we are on break.  If you must take or make a call, go out in the hall so as not to disrupt the class.

Coming in late may find the classroom door closed.  Tell your employer you must be on time to class to get full credit for your homework, which is turned in at the start of class.  We will also have announcements and the first quiz at the start of class(which is timed) so it is very important that you get to class on time.

Course Topic/Dates/Assignments:

Class # Assignment Detail: Read before coming to class! Quiz/homework due
1 Chapters 1 and 2
2 Chapters 3, 4 and 5 Homework to be assigned
3 Chapters 6,7and 8 Homework to be assigned
4 Chapters 9 and  10 Midterm timed
5 Chapters 11, 12 & 13 Homework to be assigned
6 Chapters 14 and 15 Homework to be assigned
7 Chapters 16 and 17 Homework to be assigned
8 Review and Final

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 2011-2012 Undergraduate Catalog Page 93

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 2011-2012 Undergraduate Catalog Page 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 2011-2012 Undergraduate Catalog Page 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 .

Additional Information:
This syllabus is only a guideline and may be amended during the course at the discretion of the instructor. 



Rubric

CompetencyExceeds Expectation (3)Meets Expectation (2)Does Not Meet Expectation (1)No Evidence (0)
Core Learning Outcome #1 (part of Core Assessment)                                                                                                                                                                                                         
Outcomes
Prepare a federal individual income tax return utilizing computer software.                                                                                                                                                                                                                                                                                                                                                                                                                                          
Student correctly and consistently prepares Federal tax returns with computer software. Student correctly identifies items for tax returns but does not apply the information correctly on the Federal tax return. Student is not able to correctly prepare a computerized Federal tax return.  
Core Learning Outcome #2 (part of Core Assessment)                                                                                                                                                                                                         
Outcomes
Gather and understand the significance of source documents necessary to prepare an individual tax return.                                                                                                                                                                                                                                                                                                                                                                                                            
Student correctly and consistently prepares working papers and schedules to support income tax returns. Student correctly evaluates income tax consequences but does not present information in working papers and schedules to support income tax returns. Student is unable to prepare working papers and schedules to support income tax returns.  
Core Learning Outcome #3 (part of Core Assessment)                                                                                                                                                                                                         
Outcomes
Use a computer to report tax information and apply the various rules relating to filing status in order to calculate taxable income.                                                                                                                                                                                                                                                                                                                                                                                 
Student correctly and consistently uses computer software to prepare and report tax information. Student is able to use the computer software but does not plan and report tax information correctly. Student is unable to use computer software to correctly report tax information  
Core Learning Outcome #4 (part of Core Assessment)                                                                                                                                                                                                         
Outcomes
Calculate depreciation expense, Form 4562, utilizing MACRS, ADS, Bonus and Section 179 where applicable, and knowing the limitations o listed property.                                                                                                                                                                                                                                                                                                                                                              
Student correctly and consistently calculates depreciation expenses on Federal income tax returns. Student is able to organize and compile tax return but does not apply the details appropriately on Form 4562. Student is unable to correctly and consistently organize information relating to the calculation of depreciation expense on Federal income tax returns.  
Core Learning Outcome #5 (part of Core Assessment)                                                                                                                                                                                                         
Outcomes
Apply Section 162 of the Internal Revenue Code and the parameters for the deductibility of business expenses.                                                                                                                                                                                                                                                                                                                                                                                                        
Student correctly and consistently applies provisions of Section 162 of the Internal Revenue Code as it relates to the deductibility of business expenses. Student correctly applies provisions of Section 162 of the Internal Revenue Code but may not consistently apply the information correctly for deductibility of business expenses. Student is unable to apply provisions of Section 162 of the Internal Revenue Code as it relates to the deductibility of business expenses.  
Core Learning Outcome #6                                                                                                                                                                                                                                   
Outcomes
Apply the income tax rules which apply to deductions "for" and "from" adjusted gross income in order to calculate taxable income.                                                                                                                                                                                                                                                                                                                                                                                    
Student correctly applies income tax rules in calculating adjusted gross income in order to calculate taxable income. Student correctly arrives at adjusted gross income but may not apply the income tax rules appropriately. Student is unable to apply income tax rules so as to calculate adjusted gross income in order to calculate taxable income.  

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Last Updated:7/24/2011 8:42:55 AM