Course Syllabus & Schedule

ACC 223 TAXATION OF BUSINESS ENTITIES

Instructor:

Semester:

Email:

Section:

Office:

Time:

Room:

Office Hours: x

Catalog Course Description, Prerequisites, and Minimum Grade

This course focuses on the study of taxation from the perspective of the individual including sole
proprietors. It addresses income, deductions and credits that an individual should be aware of. The
course focuses on obtaining an understanding of Form 1040 and other related individual tax forms.
Prerequisites ACC105.
Minimum grade: C.

Learning Resources

IRS Publication 17 available online

Course materials available on BrainHoney.

Assessment and Grading

Grading Scale

Grading Components

(total points earned divided by total points possible)

Score

Grade

Score

Grade

Score

Grade

94-100%

80-83%

B-

67-69%

D+

90-93%

A-

77-79%

C+

64-66%

87-89%

B+

74-76%

60-63%

D-

84-86%

70-73%

C-

0-59%

Assessment Activities
Prepare Handouts and problems

Quizzes
Instructor's Evaluation

Points
250
150
20

Teach One Another: Active participation in

class discussions
Ponder: Prepared answers to "ponder"
questions for each session
Prove: Two tests worth 200 points each

400

Total Points

900

30
50

Learning Outcomes
LDSBC cultivates a nurturing environment where practical skills are learned and discipleship is
strengthened.
There are three types of learning outcomes guiding curriculum and authentic learning experiences at
LDSBC. Students demonstrate the 1) College-Wide Outcomes, 2) Program Competency Outcomes, and 3)
Course-Specific Outcomes through the Learning Pattern as they Prepare, Teach One Another, Ponder, and
Prove their knowledge, skills, and abilities.

Through this process, all LDSBC graduates are prepared to contribute in their homes, communities, the
Lords church, and in future employment.

1. College-Wide Outcomes
1.
2.
3.
4.
5.
6.

Confirm personal testimony in the restored gospel of Jesus Christ

Collaborate with others using interpersonal skills in an honest, ethical, and Christ-like manner
Communicate effectively using written and verbal presentation principles
Construct new knowledge using technology and information resource tools
Comprehend and think critically to solve problems
Cultivate a strong, professional work ethic and lifelong learning opportunities

2. Program Competency Outcomes

At the completion of the Accounting-Financial/Managerial Program, the graduate is able to:
7. Analyze, interpret, and record business economic transactions in the accounting records of a business
enterprise
8. Conduct computerized accounting for a small business as the sole in-house accountant
9. Perform entry level accounting procedures in any size business enterprise
10. Create and explain the results of operations as reflected in the financial statements of the enterprise
11. Perform basic accounting functions appropriate for the various legal forms of business
12. Assist management in preparing financial ratio analysis, budgets, revenue and cost projections,
capital asset and investment evaluations

3. Course-Specific Outcomes
At the completion of ACC 223, the student is able to:
13. Explain the legal and ethical basis of taxation, types of taxes, structure of tax law, tax methods
14. Compare and contrast the legal and ethical differences between tax avoidance and tax evasion
15. Prepare, examine, and analyze accounting transactions, other financial information, and understand
their tax effects
16. Prepare Federal Tax Forms 1040, including itemized deductions, Schedules C, E, and SE
17. Interpret transactions and determine where they fall on a tax return
18. Interpret the different tax requirements and effects imposed upon a business, based on the type of
entity chosen

Program and Course Policies

TESTS (Prove)
WHEN
-Tests will be
given at the end of

SPECIFICS
- TEST PROBLEMS from the current section will be
given consistent with the homework that has been assigned.

POINT ALLOCATION
-Test points will total 200
points per test.

LATE OR MAKE-UPS
-Make-up tests / quizzes
will only be allowed if

each section (see

schedule above).
There are 2 sections
during this semester.

- TEXT BOOKS will be allowed or used during tests.

You will also be allowed to use your homework and handwritten notes taken during class activities. Of course, you
are not required to have any of these items during the test.
These items cannot be shared with other students during a
test.
-TIME The tests will be take home tests. You will be
given one week to complete them

arrangements are made in

advance with the
instructor.
Only one make-up will be
allowed per semester.

PREPARATION PROBLEMS (Prove)

WHEN

SPECIFICS

POINT ALLOCATION

LATE OR MAKE-UPS

-All PREPARATION
problems for each of
the four sections will be
due after the test is
taken.

-WHAT: Preparation consists of exercises or

problems from the book or from instructor handouts (H
problems).
-SECTION CONTENT SHEET: These sheets outline
each class period for a particular section and present assigned
reading pages and the problems /exercises that have to be
completed and turned in as homework.
-H-PROBLEMS: These are handout problems from the
instructor that are in addition to what is assigned from the
book. You are required to have copies of the H-problems for
the current section in ADVANCE of when they will
be used in class (please keep at least three lessons ahead).
You get these problems from BrainHoney accessed through the
internet (get to the LDSBC web page and select BrainHoney
where you will give your NET ID name and NET ID password).
-FORMAT: Each problem should be on a separate page
unless you use a highlighter for multiple solutions on one
page. Only solutions need to be turned in. Neatness and
orderliness will count in your homework score. Accounting
paper is not required but might prove useful in laying out your
solutions.

-Each exercise or problem will

be worth 3 points unless
otherwise noted on the
assignment sheet. The three
(3) points will be awarded for
correctness and neatness.
-Total points for four sections
will be much greater than
150 points. Therefore, the
percent of points you earn vs.
the total possible will be
multiplied by 150 to get your
grade point total used to
calculate your grade.

-Late preparation
problems are accepted
but only for two
weeks after they are
due. NO problems will
be accepted after two
weeks. Late problems
will be awarded a point
penalty for being turned
in late. However,
because preparation
problems are
foundational to understanding and applying
the concepts of
accounting, students are
strongly urged to
complete and turn in all
preparation problems,
even if late.

College Policies
Course Credit Hours & Classroom Preparation Time
LDSBC measures academic credit in credit hours. In accordance with federal regulation, a credit hour at
the College is the amount of work represented in intended learning outcomes and verified by evidence of
student achievement that reasonably approximates not less than:

One hour of classroom or direct faculty instruction and a minimum of two hours of out-of-class
student work each week for approximately fifteen weeks for one semester hour of credit.

An average student can expect to spend a minimum of two hours in outside preparation time for
every hour in class. For example, in a 3-credit hour class, an average student can expect six hours of
outside preparation time each week. This represents the average student who is appropriately
prepared; more time may be required to achieve excellence.

Copyright
The course materials used in this class may be protected by copyright laws. Students are expected to make a
good-faith effort to respect the rights of copyright holders. For more detailed information, please see the
LDS Business College Copyright Policy. Students who disregard the policy may be in violation of the
Church Education System Honor Code, may place themselves at risk for possible legal action, and may
incur personal liability.
Academic Policies, Title of Honor & Student Roles & Responsibilities
See LDSBC Information in Brain Honey at this link:
https://ldsbc.brainhoney.com/Frame/Component/CoursePlayer?enrollmentid=25630228

Schedule of Authentic Learning Experiences & Assessment Activities

This document is subject to change at the instructors discretion.
Any changes made to this document during the course of the semester will be reflected and finalized in Brain Honey.
Please check the Brain Honey daily/weekly pages for updates throughout the semester.
If there is a discrepancy between the Course Syllabus and the BrainHoney pages,
the BrainHoney pages will stand absolute.

Lesson
Date

Coursespecific
Outcomes

Prepare

Lesson 1
Date

Outcome
13,14

Lesson 2
Date

Lesson 3
Date

Outcome
15

Outcomes
15,16

Read publication 17
pages 46 through 75

Read publication 17
pages 98 through 118

Teach One Another

Discussion of course
syllabus. Structure of the
tax law. Tax accounting
principles.
Types of income Wages,
Interest, Dividends, Rental
Net Income, Income from
Self Employment
More types of income
capital gains and losses,
Supplemental Income

Ponder

Prove

What is a tax?
Why do
governments tax?

H-1, H-2

What is the
difference between
tax evasion and tax
avoidance? Are
they legal, ethical?
What are capital
gains (losses)?

H-3, H-4, H-5, H-6

H-7, H-8, H-9, H-10

Lesson
Date
Lesson
4
Date
Lesson
5
Date
Lesson
6
Date
Lesson
7
Date
Lesson
8

Coursespecific
Outcomes
Outcomes
15,16,17

Outcomes
15,16,17

Outcomes
15,16,17

Outcomes
15,16,17

Outcomes
15,16,17

Prepare
Read publication 17
pages 119 through 141

Above the Line

deductions

Read publication 17
pages 141 through 176

Standard Deduction,
Itemized Deductions

Read publication 17
pages 176 to 192

Date
Lesson
11
Date
Lesson
12
Date
Lesson
13
Date
Lesson
14
Date
Date

Prove
H-11, H-12, H-13

Itemized Deductions
continued.

Read publication 17
pages 20 through 36

Filing status, personal and

dependent exemptions,
calculation of tax

What are the 5 filing

statuses for a
personal tax return?

H-21, H-22, H-23, H24

Read publication 17
pages 223 through 244

Tax credits, refundable

versus non-refundable,
child tax credit, education
credits, earned income tax
credit

What is the
difference between
refundable and nonrefundable tax
credits?

H-25, H-26, H-27

Read publication 334

pages 11 through 27

Business tax returns,

accounting periods,
accounting methods, gross
income

H-28, H-29, H-30, H31

Read publication 334

pages 27 through 40

Cost of Goods Sold,

Inventory, general
business expenses

Is it permissible to
use accrual basis for
your business
account, but cash
basis for your IRS
filings?
What is the "retail
method" of valuing
inventory?

Read publication 946

pages 2 through 24

Overview of Depreciation,
Section 179 election to
expense

What does section

179 allow taxpayers
to do with certain
types of property?

H-35, H-36, H-37, H38

Read publication 946

pages 24 through 55

Deprecation continued,
special depreciation
allowance, MACRS

Read publication 542

Business entity formation

decisions, C-Corporations,
S-Corporations

Read publication 541

pages NOT YET
FINALIZED and
publication 3402

Partnerships, LLCs

H-14, H-15, H-16, H17

H-18, H-19, H-20

Test #1
Outcomes
15,16,17,18

Date

Lesson
10

Ponder
What is another
description for
"Above the Line"
deductions?
Why might a person
be better off using
"standard
deductions"?
Give 3 examples of
itemized deductions

Date
Date
Lesson
9

Teach One Another

Outcomes
15,16,17,18

Outcomes
15,16,17,18

Outcomes
15,16,17,18

Outcome
18

Outcome
18
Test #2

H-32, H-33, H-34

H-39, H-40, H-41, H42

What is the tax

difference between
a C-Corporation and
an S-selection?
Who pays the
income taxes for a
partnership, for an
LLC's?

H-43, H-44

H-45, H-46, H-47