ACC 315 (F 09 eL) McElhiney

ACC 315 (F 09 eL) McElhiney - MIDSTATE COLLEGE 411 W....

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MIDSTATE COLLEGE 411 W. NORTHMOOR RD. PEORIA, IL 61614 (309) 692-4092 (800) 251-4299 Fall 2009 ACC 315 Tax Accounting II Credit hours: 4 Hrs. Method of Delivery: eLearning Course Description: A continuation and expansion of Tax Accounting I with focus on taxation of business entities. This course will emphasize individual (Schedule C), Real Estate (Schedule E), corporate (C & S corporations – Form 1120 & 1120 S) Partnerships (Form 1065) and other entity taxation in accordance with the latest Internal Revenue Service (IRS) Code. This course will also examine such concepts as AMT (Alternative Minimum Tax), Stock Options as well as Schedule F, Farming Income, and Hobby Losses. The course will delve into Tax Administration, Tax Planning and Research. Prerequisite: ACC 215 – Tax Accounting I Text: Income Tax Fundamentals 2009 Edition Authors: Gerald Whittenburg and Martha Altus-Butler Publisher: Southwestern Press; ISBN #978-0-324-66367-9 Topics Covered: Tax Administration and Tax Planning Learning Objectives: 1. Research questions about the U.S. Tax Code and solve many problems involving significant tax issues 2. Perform calculations and complete tax returns for entities involving individual, partnership and corporation tax returns. (Focus in class will be upon Form numbers 1040, 1065 and 1120 and appropriate schedules). 3. Demonstrate knowledge of complex tax issues involving tax credits, capital gains & losses, business deductions, retirement accounts, rental income/expense, AMT, Schedule K-1 for partnership taxation and Schedule M for corporate taxation. 1 ACC 315 (eL) Revised 8/5/09
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Midstate Grading scale: 90 - 100 A 80 - 89 B 70 - 79 C 60 - 69 D 0 - 59 F Midstate Plagiarism Policy: Plagiarism is using another person’s words without giving credit to the author. Original speeches, publications, and artistic creations are sources for research. If students use the author’s words in a paper or assignment, they must acknowledge the source. Plagiarism is strictly against the academic policy of the college and is grounds for failing the course. If repeated, plagiarism may result in suspension from the college. (See the Midstate College catalog and/or Student Handbook for additional information.) In courses containing writing assignments, the college promotes the use of an electronic resource which compares the student’s writing against previously submitted papers, journals, periodicals, books, and web pages. Students and instructors can use this service to reduce the incidence of plagiarism. This electronic resource has been found to conform to legal requirements for fair use and student confidentiality. It is able to provide a report to the student indicating the parts of the assignment that match. Instructor:
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ACC 315 (F 09 eL) McElhiney - MIDSTATE COLLEGE 411 W....

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