Tax Accounting I 4013

FALL 2003

Tue., Thur. 11:00 - 12:20 a.m.

Room Flanders 218

 

 

Professor:    Dr. George L. Schmidt

Office:       FL 104

Telephone:    (470) 788‑7885

Voice Mail:   7885

E-mail:       gschmidt@uafortsmith.edu

Office hours: Tue.,Thur. 4:00-5:00 p.m. or

              by appointment

 

COURSE DESCRIPTION: 

 An introductory tax course dealing with individual tax reporting in the United States. The purposes of the Federal tax law are examined, and the legislative, administrative,  and judicial sources of Federal tax law, including their application to the tax research process, are analyzed.

 PREREQUISITE:  Acct. 2813 Principles of Accounting II

 TEXTBOOK: 

 West Federal Taxation Individual Income Taxes,  2004 Edition, Hoffman, Smith, & Willis.     Tax software,      Optional: Study guide

 COURSE OBJECTIVES: 

  By focusing on the Core Competencies students will meet the Course objectives:

 Communication Abilities:

By oral discussion, traditional written communication, rhetorical persuasion and defense of ideas, and effective

Listening skills the students will develop a level of proficiency in the use of the income tax code to research various tax issues.

 Analytical Skills:

The student will integrate, defend and synthesize ideas in quantitative/electronic environment by developing the ability to report individual income taxes using either government provided income tax forms or a computerized tax program.

 Reflective Thinking:

By reflecting on the student’s own experiences with the tax code the students will learn through observation and understanding of others’ experiences

CLASS PREPARATION:

             Students are expected to read the assigned chapters prior

to class and be prepared to discuss issues. Refer to the course assignment sheet for due dates of assignments.

 ATTENDANCE POLICY:

             Attendance requirements are explained in the University

Catalog (pg. 53). Each Student is expected to be present and to be prepared for each class.  Students are expected to arrive on time.  There may be assignments made that are not on the course assignment sheet.  It is the student's

responsibility to check with the instructor for work  missed.  More than two unexcused absences will cause five percent of the total available points to be deducted from the total of earned points in determining the final course grade.  Being late for class two times is equivalent to

being absent and leaving early from class counts the same as being absent.

 GRADING POLICY:

      After adjustments for attendance policy (see below), the

     final average will receive the grades indicated:

                   90 - 100% A

                   80 -  89% B

                   70 -  79% C

                   60 -  69% D

                   Below 60% F

             Exams 3 x 100                         300 points   

  Homework & Participation       100 points

             Tax software problems                 50 points

             Quiz Grades & attendance            50 points

                                                                     

     TOTAL:                                            500 points

     In order to earn a course grade of an "A", a student must     achieve "A" quality performance on all the requirements. At the discretion of the instructor, homework may be taken up to be graded on the assigned chapter or homework.  If a student is absent when a homework assignment is taken up to be graded or when a pop quiz is given, a grade of zero will be recorded. There may be a limited number of other supplementary assignments as determined by the professor.

 To drop the course and receive a drop while passing, you must have an average grade of 60 or higher on exams taken    prior to the date you drop.  Incomplete grades as per College requirements, with the approval of the instructor, may be given to those students who are unable to complete the course and who are maintaining passing grades.

 EXAM:

    

If you have a college excused absence for an exam, the final exam will be a comprehensive final and count double for the missed exam. Three exams will be given during the semester, including the final exam.  Each exam will be worth 100 points and can include true/false, multiple choice, problem and essay questions. 

      

DAILY ASSIGNMENTS:

 

     This category may consist of case studies, pop quizzes, and

     questions or problems at the end of the chapters in the texts.  Problems assigned from the text should be prepared for submission to the instructor.  No "copies" will be accepted.

     1.    Study assignments are to be completed in good form. Complete sentences, spell checks,

            and grammar checks should be used on the assignments.

          a.   Use only one side of the papers for assignments.

          b.   Use a word processing or spreadsheet package. A dot matrix printer is acceptable. 

              Legible handwritten problems in a ledger or  ledger format is also acceptable.

c.              Double space all written assignments. In

Answering essay questions, either restate the question or phrase the answer to imply the question.

           d.   Place a cover sheet as the front page of all assignments containing:

               Name(s)

              Tax 4013

              Section 01

              Description of Homework assignment (chapter 1)

              Date

           e.   Please staple all assignments in the upper left-

              Corner.

      Assignments are due during the class period when called for by the instructor (usually at the beginning of class).

 PLEASE NOTE:

      Daily assignments may not be made up if your absence is   unexcused.  If you know in advance you must be absent, you should turn in the assignment early.  The above policies will have no exceptions.  Late work will have a grade reduction.  Please plan accordingly.

 ETHICS AND INTEGRITY

 Ethics and values are very important in accounting and in the world of business, not-for-profit and government organizations.  We consider ethical issues in accounting throughout the course.  Your instructor will assume, unless there is evidence to the contrary, that you are an ethical individual.  To help you meet this responsibility, the ethical standards for this course are presented below.  VIOLATION OF THESE STANDARDS MAY RESULT IN THE AWARDING OF THE GRADE OF "F" IN THE COURSE!

 INDEPENDENCE

 All work is to be performed exclusively by the individual (unless it is a team project).  If outside research is performed, sources are to be cited and information obtained from this research is to be clearly labeled as such.  The result of this research is NOT to be shared with other individuals (outside the team).  You are required to abide by Federal Copyright Law and to avoid plagiarism.

 EXAMINATIONS

 All work must be the exclusive work of the individual.  CHEATING ON AN EXAMINATION WILL RESULT IN THE AWARDING OF A GRADE OF "F" IN THE COURSE.

 RESPONSIBILITY FOR OTHERS

 Allowing another student to obtain course points by deceit contributes to a general lowering of the ethical standards of this course, of the Business Department, the College,  and the profession of Accountancy.  You have an ethical obligation to notify your instructor when you become aware of a violation of this ethical standard by another student. 

 DISABILITY ACCOMMODATION PROCEDURE FOR COURSE ACCOMMODATION

 1.   A student with a documented disability must request accommodation from the instructor teaching the course.

 2.   The instructor shall contact the Director of the Learning Disability Program for advice on how to proceed with the accommodation.

 3.   In most cases, the student and the instructor (after consulting with the Director of the Learning Disability Program) will agree on a mutually acceptable reasonable accommodation.  Notice of the accommodation must be communicated in writing to the instructor, the Director of the Learning Disability Program and the student.

 SPECIFIC COURSE REQUIREMENTS

 TO PROVIDE CLEAR AND FULL INFORMATION TO ALL STUDENTS, THE FOLLOWING GUIDANCE IS PROVIDED:

 1.   Arrive at class and be seated by class time.

 2.   Only leave class if absolutely necessary.

 3.   Do not carry on a private discussion during class with another student (Unless doing group work).

 4.   Follow these directions for all tests:

     a.   Place all books and other materials AT YOUR FEET OR IN A CHAIR NEXT TO YOU.  You may take necessary test-taking materials to your seat & lay on your desk.

      b.   Sit where instructed by the proctor or professor.

      c.   You may leave the test only for the purpose of going to the restroom -- and ONLY ONE PERSON AT A TIME.

      d.   You must turn in the test questions as well as your answers, unless instructed otherwise.

      e.   Stop writing PROMPTLY when time is called.  Continuing to write after time is called will result in your paper NOT BEING ACCEPTED FOR GRADING!

      f.   Bring your UA Fort Smith ID to all tests and show it if requested. 

      g.   Do not write formulas on mnemonics on the test paper until you are told to begin.

 

                                                              Tax I 4013

Assignment    Schedule

 Dates      Chapters      Questions    Exercises Problems

 Aug. 19           1           Class Introduction & Lecture

Aug. 21           1           Lecture 2 Lecture 3 DQ1 1,7,9,18,20,21,23,26,29,32, 

                                 37,43,44,51,

Aug. 26           3           DQ2-10,18,19DQ3-1,3,8,9,15,16,19,21,23,24,25   

                              Prob3: 29,31,33,36,37,42,45,51

Aug. 28           4           Lecture 4

                              DQ4-3,6,7,10,12,15,19,24,

 Sept. 1                       Labor Day Holiday - No class

 Sept. 2           4           Prob. 36,38,43,44,53,54,55,56

                              Lecture 5

 Sept. 4           5           DQ5-2,3,4,6,8,10,11,12,13,18,21,26

                              Prob.32,34,35,37,43,49

 Sept. 9           5           Lecture 6

 Sept. 11          6           DQ6: 2,3,4,5,11,16,17,18,19,24,28,

                              Prob. 34,37,41,42,43,48,57ab

                              Turn, in Separate-Prob. 63-(Take Home Quiz)

Tax Software Project

Sept. 16                      Exam 1

Sept. 18          7           Lecture 7

                              DQ7: 1,2,3,7,8,11,13,14,18,19,23,25,26

Sept. 23          7           Prob. 32,33,34,37,42,47 

Sept. 25          8           Lecture 8  

                              DQ8: 1,3,6,7,8,9,12,14,15,16,17,18,21,24,25

                              Prob. 27,28,29,30,31,34,44,47,48

Sept. 30          9           Lecture 9

                              DQ9: 1,2,3,6,8,10,12,16,18,24,

Oct. 2            9           Prob. 33,36,39,40,41,47

Oct. 7            10          Lecture 10

                              DQ10-2,3,5,7,12,14,16,19,23,

Oct. 9            10          Prob. 25,27,28,35,38,40

Oct. 14           11          Lecture 11 

                              DQ11-2,4,6,9,10,21,23,25,30,36,37,50

Oct. 16           11          Exam 2

Oct. 21           12          Lecture 12

Oct. 23           12          DQ12: 3,4,5,6,7,12,26,Prob. 31,33,35,37

Oct. 24                      Last day to drop a course without

                              Receiving a grade of WP/WF

Oct. 28           13          Lecture 13

Oct. 30           13          DQ13: 2,4,8,10,11,14,20,25,27,31,Prob.36,38

Nov. 4            14          Lecture 14

Nov.6             14          DQ14-2,5,9,12,15,24,25,26,27 Prob.33,36

Nov. 11                       No Classes Veteran’s Day

Nov. 13           15          Lecture 15

Nov. 18           15          DQ15-1,3,4,6,9,11,15,23,Prob.29,32,41,52

Nov. 20           16          Lecture 16

Nov. 25           16          DQ16-1,2,6,8,10,12,13,14,18,22,31  

Nov. 26-30                    THANKSGIVING HOLIDAY

Dec. 2            17          Lecture 17

                              DQ:1,2,3,5,8,12,13,15,16,17,18,20,22,27

Dec. 4            17          Prob. 32,36,45,47,48

Dec.  16                      Tuesday 11:00-12:50 FINAL