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AC 312 Business Income Tax
Bergstrom, Alfred R.


Mission Statement: Park University provides access to a quality higher education experience that prepares a diverse community of learners to think critically, communicate effectively, demonstrate a global perspective and engage in lifelong learning and service to others.

Vision Statement: Park University, a pioneering institution of higher learning since 1875, will provide leadership in quality, innovative education for a diversity of learners who will excel in their professional and personal service to the global community.

Course

AC 312 Business Income Tax

Semester

F1E 2012 PE

Faculty

Bergstrom, Alfred R.

Title

Adjunct Faculty

Degrees/Certificates

BBA Financial Accounting
MS Taxation
Enrolled Agent

Office Location

Assigned Classroom

Office Hours

By Appointment

Daytime Phone

(760) 728-6425

E-Mail

Alfred.Bergstrom@Park.edu

Al@NewtonEAtax.com

Semester Dates

08/20/2012 thru 10/14/2012

Class Days

Mondays

Class Time

As Arranged

Prerequisites

AC 309, AC 320, CS 140

Credit Hours

3


Textbook:

South-Western Federal Taxation: Corporations, Partnerships, Estates, and Trusts 2013 - With CD and Card
Author:  Hoffman, William H. / Raabe, William A. / Smith, James E. / Maloney
Edition:  2013
ISBN:  13: 978-1-133-49550-5
Publisher:  South-Western Publishing Co.

Additional Resources:

 

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.
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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 corporations. Prerequisites: AC309, AC320 and CS 140 or equivalents. 3:0:3

Educational Philosophy:
Since the tax law is continually modified by the taxing authorities, my approach is to emphasis the underlying principles that are the basis for the taxation of specific business entities.  Practical application of procedures and concepts using exercises, problems, quizzes and examinations enhances the students understanding and retention of the principles and concepts introduced during the semester.

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:

The methodology that will be followed during class sessions will include a review of the previous class's new material, lecture on the concepts assigned supported by exercises and problems that allow an analysis of these concepts in a practical situation.
 
The instructor will assign homework problems and/or exercises to be turned in for grading.  These problems, as well as your questions, exercises or problems, will be reviewed in class.  To enhance your learning, you should attempt to do the problems before they are discussed in class.  During class discussions, you will then be able to clear up questions you have concerning the solution.
 
Classroom participation, completion of assigned homework and attendance are mandatory requirements to your mastery of the concepts presented and are a major portion of your final grade.
 
Homework and take-home problems are intended to encourage student discussion and interaction and provide a means for group learning to solve problems.  These group discussions are encouraged, as they enhance the learning process.  However, students are expected to do their own work.  Copying, duplication, using or plagiarizing another's work is prohibited and will result in a failing grade on the assignment and possible "F" for the course. 
 
A midterm and comprehensive final examination will be conducted.

Grading:

EXAMINATIONS CHAPTERS POINTS
Midterm 1 thru 8 100
Final (Comprehensive) 9 thru 20
100
Quizzes, Homework,
Attendance, Participation

100

TOTAL POINTS

300
                                                                    
 
 
POINTS TO GRADE CONVERSION
300-270   A
269-240   B
239-210   C
209-180   D
179-    0   F

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:
Students are expected to attend all scheduled class meetings and be present for the full class period.  Absenteeism and tardiness, regardless of the cause, threatens academic achievement.  Classes missed for legitimate reasons as discussed in the Attendance Policy are excusable; however, the student who is absent from class is responsible for all material covered during the class.  If an absence is not specifically excused by the instructor before the class, homework assignments cannot be made up for grading.

Classroom Rules of Conduct:
Each student brings to the class a wealth of knowledge and experience.  The classroom atmosphere must encourage students to share knowledge and experiences with fellow students.  Any conduct that does not support that atmosphere will not be tolerated.  Common courtesy, respect for different opinions and orderly discussions will be enforced by the instructor.

Course Topic/Dates/Assignments:

CLASS LECTURE HOMEWORK
Aug 20
Introduce Chapters 1 and 2
Chptrs 1 - 2
Assigned Probs
Aug 27

Review Chapters 1 and 2                                                                                     Introduce Chapters 3 thru 5 (Selected Readings)

Chptrs 3 - 5
Assigned Probs
Sept 3  

Review Chapters 3 thru 5                                                                                     Introduce Chapters 6 thru 8 (Selected Readings)

Chptrs 6 - 8
Assigned Probs
Sept 10
Review Chapters 6 thru 8
Midterm Review

 Sep 17
 Midterm
Introduce Chapters 10 thru 12
Chptrs 10-12
Assigned Probs
Sept 24
Review Chapters 10 thru 12
Introduce Chapters 17 thru 20
Chptrs 17-19
Assigned Probs
Oct 1
Review Chapters 17 thru 20
Final Exam Review
Chptrs 17-20
Assigned Probs
Oct 8
Continue Review Chapters 17 thru 20
Final Exam (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 2011-2012 Undergraduate Catalog Page 95-96

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 95

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 98

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:

Bibliography:



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:8/7/2012 1:04:25 PM