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					                ACC 401 – Federal Individual Income Taxation – Spring 2005
                             University of Hawaii at Manoa
                      Section 1 – TTh 3:00 pm – 4:15 pm CBA D203

Instructor:            Sharon Cox, PhD, CPA
Office:                Business Admin – A403 (please note change from prior semesters)
Phone:                 956-8461
e-mail:                coxs@hawaii.edu (please note change from prior semesters)

Office Hours:          Tuesday        4:15 pm – 5:15 pm
                       Thursday       4:15 pm – 5:15 pm       and/or by Appointment

Alternate Meeting Site:
       In the event of disturbances during class time (for example, bomb threats), meet the instructor
       in the grassy area on the south (makai) side of George Hall. You will be given further
       instructions at that point. On days of scheduled exams, you will be directed to an alternate
       classroom to take the exam.

Prerequisite:          ACC 202 or BUS 610

Required Textbook and Materials:
      1. Willis, Hoffman, Maloney and Raabe, West Federal Taxation – Comprehensive
              Volume – 2005 Edition, Thomson/South-Western.
      2. Additional information posted on the ACC 401 course WebCT site: webct.hawaii.edu
      3. Use of Thomson RIA Checkpoint website: http://checkpoint.riag.com. Additional user
              registration information will be provided.

Course Description: Examine federal individual income tax concepts, such as gross income,
exclusions, deductions, losses, exemptions, and tax credits. Further, the course covers the tax
effects of property transactions and the deductions related to the cost recovery of certain assets .
        The goal of the course is to assist you in building a strong foundation of basic tax principles
and concepts. It is not possible to address every exception to a particular law. The fundamental
concepts and more common transactions are emphasized.

Course Objectives:
      1. Introduce and further students’ knowledge of US income tax concepts for individuals.
      2. Develop and encourage critical thinking skills.
      3. Improve communication and technology skills.
      4. Promote business and professional ethical awareness.

Important Dates:
      January 18, 2005                -- Last day to drop class (no “W” on transcript)
      January 31, 2005 (4 pm)         -- Last day to withdraw from class (“W” on transcript)
      May 10, 2005                    -- Final Exam – 2:15 pm to 4:15 pm – CBA room D203




         SYLLABUS IS SUBJECT TO CHANGE AT INSTRUCTOR’S DISCRETION
                                    -1-
Classroom Policies:
      1. Each class session, turn off all electronic/noise-making devices. If you anticipate a need
         for such a device, please set the device to vibrate. If you anticipate a need for a noise-
         making device that cannot be set to vibrate mode, notify me before class begins. As
         discussed below, failure to comply with this policy will result in a reduction of the
         Participation/Professionalism portion of the student’s final course grade.
      2. Each student is responsible to bring his or her own calculator to the quizzes and exams.
         Programmable calculators or those with text-storing capability are not permitted during
         quizzes and exams. Cell phones, personal digital assistants (PDAs) or other text storing
         devices are not permitted during quizzes or exams. Students are not permitted to share
         calculators during quizzes or exams.
      3. Students are expected to arrive to class on time. If a student arrives late she or he should
         make every effort to enter the room quietly and without disturbing the class. As discussed
         below this is part of each student’s Participation/Professionalism grade.

Course Grade:       Grades are based on total points earned, using a strict scale with 90%=A;
      80%=B; 70%=C; 60%=D; and 50%=F. Specifically, the course grade is based on the following
      course requirements: in-class examinations, quizzes, projects, and participation and is
      computed as follows:

                Exam #1        2/24/2005      closed book                 100 points
                Exam #2        4/7/2005       closed book                 100 points
                Final          5/10/2005      closed book                 150 points
                Quizzes – class               closed book
                Quizzes – online              open book                    50 points
                Projects (3)                                               75 points
                Participation/Professionalism/Homework                     25 points
                        Maximum Total                                     500 points



Course Requirements:
        Exams:          A total of 350 points is allocated to exams. There will be three exams (2 worth
100 points each; and the final worth 150 points) on the dates indicated on the Course Schedule. All
students are required to take all three exams on the day scheduled. The first and second exams are
closed book and will be 75 minutes. The final is closed book and scheduled for 2 hours. All exams
are given in the regular classroom unless otherwise announced by the instructor.

       The examinations will cover material from the following sources: the textbook, handouts,
quizzes, end of chapter problems, information disseminated on the WebCT course site, and
classroom discussions/lectures.

       Material covered for each exam:
                      Exam 1        – Chapters 1 - 5
                      Exam 2        – Chapters 6 - 9
                      Final         – Comprehensive (chapters 1 - 14)

       Examination Protocol:          Students are not permitted to ask any questions during the
examination. Students should document on the exam any assumptions made in their test answer.
Further, the student must indicate on the cover page of the exam the question number for which he or
she has documented any assumptions. Students must supply their own calculator as described in the
Classroom Policy section above.



         SYLLABUS IS SUBJECT TO CHANGE AT INSTRUCTOR’S DISCRETION
                                    -2-
        Quizzes:        A total of 50 points is allocated to quizzes. Quizzes will either be administered
in class or online via WebCT. Quiz dates, and the material covered, will be announced one class
period in advance.

        Projects:        Three projects are required. Each project is worth 25 points. Specific project
details will be given later in the semester.

         Participation/Professionalism:        Students are expected to read the assigned chapters
prior to class. Class participation is encouraged. Class participation includes questions and
comments that are relevant to the topic being covered. Another portion of this grade is attendance
and timeliness. Class attendance is a critical for learning and understanding the material. Poor
attendance reduces this portion of the student’s grade.
         In the classroom professionalism includes respecting the classroom policies and the academic
honesty requirements. A pattern of late arrival to class, a pattern of cell phone or other electronic
noises, or any other disruptive pattern will reduce this portion of the student’s grade.
         Students are responsible for obtaining any material covered during classes that they miss
from classmates or review of the textbook.
         There will be required assignments throughout the semester that will be considered as part of
the participation/professionalism grade. Any student that does not participate in the CTE evaluation
on March 3rd without advance permission from the instructor, will lose 5 points from this portion of
their grade.

         Homework (End of Chapter Problems): Suggested problems will be announced in class
and posted on the WebCT course site. Further, the solutions will be posted on WebCT. The students
are responsible for understanding the solution to the end of chapter problems. Students should ask
the instructor in class or during office hours if he or she is having difficulty with the problems.
         Occasionally a homework problem will be collected and graded. The collection of homework
will always be announced one class period in advance, or via WebCT. Graded homework problems
will be included in the Participation/Professionalism portion of the grade.

Extra Credit:
       If a student has completed all required work, then a student may earn 10 extra credit points
       in one of the following two ways:

       1.      Achieve “active” status with the University of Hawaii Accounting Club or Beta Alpha
               Psi. The student is responsible for having the appropriate Club Officer notify the
               instructor of club status no later than the date of the final exam.
       -or-

       2.      Provide documentation of volunteering 20 hours to the VITA program. Contact Lai
               Ieng Yee [yeel@hawaii.edu] or the local IRS office (808-539-2099) for information on
               how to volunteer.




            SYLLABUS IS SUBJECT TO CHANGE AT INSTRUCTOR’S DISCRETION
                                       -3-
Academic Honesty:
        Plagiarism and Cheating as defined in the University of Hawai’i at Mānoa 2004-2005 Catalog
(p. 574), will not be tolerated. Any and all offenses will be brought to the attention of the Director of
the School of Accountancy for further action.

                                            Examples of
              Expected Behavior                  and             Unacceptable Behavior:
1. Submit only your own work.                     1. Copying another student’s homework, quizzes,
                                                  projects or exams.
2. Working with your classmates outside of the    2. Copying another student’s homework, quizzes,
classroom to increase your understanding of the   projects, or exams.
material.
3. Prepare and study for quizzes and exams        3. Obtaining information about an exam or quiz
prior to class.                                   from a student that has taken the exam or quiz
                                                  before you.
4. All projects must represent your own work.     4. Improper citation or lack of citation of source
                                                  materials used.
5. Promptly submitting exams when asked.          5. Taking the exam from the classroom or my
                                                  office without permission.
6. Take necessary precautions to prevent other    6. Leaving your quiz or exam uncovered and
students from copying your quiz or exam.          susceptible to classmates roving eyes.

                                           If in doubt, ask!!!!!



Services for Students with Disabilities: Any student with a physical or mental disability is
encouraged to contact me or the KOKUA Program if the student has a disability-related need for
academic success services. KOKUA is in Room 13 on the ground floor of the Student Services
Center. KOKUA’s telephone numbers are (voice/text) 956-7511 or 956-7612. Early contact is
strongly recommended.

Graduate Students (ACC 401G):                  Those students that take ACC 401 in fulfillment of course
requirements for a graduate degree (ex: MBA degree) are required to request this in writing. The
procedure for this request is that the student obtains a request form from the Graduate Office of
Student Academic Services (OSAS), CBA room C202. The student must complete the form and bring
two copies to me for signature. The student then brings one signed copy back to the Graduate OSAS
office and I retain the second copy. This form must be completed by January 25, 2005.
        Further, the student is required to complete different and/or additional projects than those
assigned to the Undergraduate class.

Course Schedule:               The class schedule is part of this syllabus. The dates for all exams are
given in the schedule. The exam dates will not change. If you have a conflict with any of the exam
dates you should consider taking the course another semester to eliminate the conflict. Only a
doctor’s written note or a university-excused absence will permit the student to take a make-up exam
or other make-up procedure.




         SYLLABUS IS SUBJECT TO CHANGE AT INSTRUCTOR’S DISCRETION
                                    -4-
                   ACC 401 – Federal Individual Income Taxation
                                         Course Schedule:
                   Topic                                                                  Homework
Tues     Jan 11    Introduction
                   Chapter 1: An Introduction to Taxation and Understanding the Federal
Thurs    Jan 13    Tax Law
                   Chapter 1: An Introduction to Taxation and Understanding the Federal
Tues     Jan 18
                   Tax Law
Thurs    Jan 20    Chapter 2: Working with the Tax Law
Tues     Jan 25    Chapter 2: Working with the Tax Law
                   Chapter 3: Tax Determination; Personal and Dependency Exemptions;
Thurs    Jan 27
                   An Overview of Property Transactions
                   Chapter 3: Tax Determination; Personal and Dependency Exemptions;
Tues     Feb 1
                   An Overview of Property Transactions
                   Chapter 3: Tax Determination; Personal and Dependency Exemptions;
Thurs    Feb 3
                   An Overview of Property Transactions
Tues     Feb 8     Chapter 4 : Gross Income: Concepts and Inclusions
Thurs    Feb 10    Chapter 4 : Gross Income: Concepts and Inclusions
Tues     Feb 15    Chapter 5 : Gross Income: Exclusions
Thurs    Feb 17    Chapter 5 : Gross Income: Exclusions
Tues     Feb 22    Chapter 5 : Gross Income: Exclusions
Thurs    Feb 24    Exam #1 – Chapters 1-5
                   Review Exam #1
Tues     Mar 1
                   Chapter 6 : Deductions and Losses: In General
Thurs    Mar 3     CTE evaluation
                   Chapter 7 : Deductions and Losses: Certain Business Expenses and
Tues     Mar 8
                   Losses
                   Chapter 7 : Deductions and Losses: Certain Business Expenses and
Thurs    Mar 10
                   Losses
Tues     Mar 15    Chapter 8 : Depreciation, Cost Recovery, Amortization, and Depletion
Thurs    Mar 17    Chapter 8 : Depreciation, Cost Recovery, Amortization, and Depletion
Tues     Mar 22    Spring Recess – No Class
Thurs    Mar 24    Spring Recess – No Class
                   Chapter 9 : Deductions: Employee and Self-Employed-Related
Tues     Mar 29
                   Expenses
                   Chapter 9 : Deductions: Employee and Self-Employed-Related
Thurs    Mar 31
                   Expenses
                   Chapter 9 : Deductions: Employee and Self-Employed-Related
Tues     Apr 5
                   Expenses
Thurs    Apr 7     Exam #2 – Chapters 6-9
Tues     Apr 12    Chapter 10 : Deductions and Losses: Certain Itemized Deductions
Thurs    Apr 14    Chapter 10 : Deductions and Losses: Certain Itemized Deductions
Tues     Apr 19    Chapter 11 : Passive Acti vity Losses
Thurs    Apr 21    Chapter 12 : Tax Credits
                   Chapter 13 : Property Transactions: Determination of Gain or Loss,
Tues     Apr 26
                   Basis Considerations, and Nontaxable Exchanges
                   Chapter 14 : Property Transactions: Capital Gains and Losses,
Thurs    Apr 28
                   § 1231, and Recapture Provisions
                   Chapter 14 : Property Transactions: Capital Gains and Losses,
Tues     Ma y 3    § 1231, and Recapture Provisions
Thurs    Ma y 5    Study Period – No Class
                   FINAL EXAM – Chapters 1-14
Tues     Ma y 10
                          - 2:15 pm to 4:15 pm – CBA room D203

        SYLLABUS IS SUBJECT TO CHANGE AT INSTRUCTOR’S DISCRETION
                                   -5-
SYLLABUS IS SUBJECT TO CHANGE AT INSTRUCTOR’S DISCRETION
                           -6-

				
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