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					                  UNIVERSITY OF HAWAII AT MANOA
                          ACCOUNTING 633:
                  ADVANCED CORPORATE TAXATION
                   2003 SUMMER SESSION – TERM 2
______________________________________________________________


COURSE MEETS: Monday and Wednesdays, 6:00 p.m. - 9:30 p.m., BusAd D-104
              July 7, 2003 through August 13, 2003

INSTRUCTORS:      Kurt Kawafuchi, J.D., C.P.A., Masters of Laws in Taxation
                  Lisa Lo, Masters of Accounting, C.P.A.

OFFICE HOURS:     Available immediately after class or e-mail Kurt at
                  “kkawafuchi@aol.com,” or call 587-1513 (Office) or 258-3383
                  (Cell.) to schedule an appointment, or email Lisa Lo at
                  llo_639@yahoo.com.

TEXTS:            (1) Federal Income Taxation of Corporations and Sharholders (7th
                  Edition). Authors: Boris I. Bittker and James S. Eustice, Warren
                  Gorham & Lamont (2000 Edition) (Text"); (2) Federal Income
                  Taxation of Corporations and Sharholders_2002 Cumulative
                  Supplement and Student Edition (Supplement"); and (3) Federal
                  Income Taxation of Corporations and Sharholders_Study
                  Problems ("Problems")

                  (Optional) West's INTERNAL REVENUE CODE OF 1986 AND
                  TREASURY REGULATIONS: ANNOTATED AND SELECTED
                  (2003 Edition) by James E. Smith, or comparable access to Internal
                  Revenue Code and Treasury Regulations.

COURSE            The purpose of this course is to provide students with an overview and
OBJECTIVES:       examination of selected advanced corporate taxation topics including
                  partial liquidations, IRC Section 304, complete liquidations, IRC
                  Section 338 elections, consolidated tax returns, tax-exempt
                  organizations, and advanced corporate reorganization topics including
                  special issues problems, tax attributes, and foreign corporate
                  reorganizations-IRC Section 367. This course emphasizes the
                  development of the student's critical analysis through problems and oral
                  presentations of the solutions.
                                         GRADING
               Attendance, Assignments,                      30%
               and Participation

               Mid-Term Examination                          35%

               Final Examination                             35%

                                                             100%

    (1) Attendance, Assignments, and Participation. Attendance, assignments, and class
participation will comprise 30% of each student's grade. Students are expected to attend class,
be prepared for class, and participate in class discussions and activities. Each student shall
prepare written solutions to the assigned homework problems that will be turned in each class.
Each student is entitled to one “pass” during the semester, which can be utilized when the
student is scheduled to make his or her presentation, or for any other class. For the “pass,” the
student will be treated as if the student turned in a “credit” homework assignment. Written
solutions will be graded, “Credit”, “Late” (1/2 credit), or “No Credit”. Every week, each
homework problem for the following week will be assigned to one student to present the
solution to his or her assigned problem for the following week.

    (2) Mid-Term Examination. The Mid-Term Examination comprises 35% of each
student's grade. It is tentatively scheduled to be ninety (90) minutes on Monday, July 28,
2003. The Midterm Examination is most likely to contain short answer, computational, and
one or more problem-solving and essay questions. The Mid-Term Examination is open book
and notes.

       (3) Final Examination. The Final Examination comprises 35% of each student's
grade. It will generally emphasize the materials and topics after the Mid-Term Examination.
It is scheduled to be ninety (90) minutes on Wednesday, August 13, 2003. The Final
Examination is most likely to contain short answer, computational, and one or more
problem-solving and essay questions. The Final Examination is open book and notes.




                                               2
DATE                         ASSIGNMENTS*

July 7                       Introduction and Review of U.S. Income Taxation of
                             C Corporations

July 9                       Text: Partial Liquidations, 9.07, and Redemptions by Affiliated
                             Corporations: IRC Section 304, 9.09

July 14                      Text: Complete Liquidations: 10.00-10.05[4], [6] and [7],
                             10.06 –10.08, Subsidiary Liquidations: 10.20-10.21[3][a]-[c],
                             10.21[4]-10.24; Taxable Acquisitions: 10.40-10.43 (Including
                             IRC Section 338)

July 16                      Text: Consolidated Tax Returns: 13.40-13.42

July 21                      Text: Consolidated Tax Returns: 13.43-13.45

July 23                      Text: Consolidated Tax Returns: 13.46-13.48

July 28                      MID-TERM EXAMINATION; Overview of Tax-Free
                             Corporate Reorganizations: A-G and Triangular Tax-Free
                             Reorganizations

July 30                      Text: Corporate Divisions: 11.02-11.11; Treatment of Parties to
                             Reorganization: 12.40-12.46

August 4                     Text: Corporate Tax Attributes: 14.01, 14.20, 14.21, 14.40-
                             14.41[2][c], 14.41[3][a], 14.41[4][a], 14.41[5], 14.42-14.43[5],
                             14.44[1][a]-[c], 14.44[3]-[5], [6]][a], [7], 14.45-14.45[2].
                             14.46-4.47

August 6                     Text: Organization, Liquidation, and Reorganization of Foreign
                             Corporations: IRC Section 367 and Related Provisions:
                             15.80-15.85

August 11                    Tax-Exempt Organizations including nonprofit corporations
                             (Handout)

August 13                    FINAL EXAMINATION

* - Readings including the readings in the Supplement.




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