MASTER SYLLABUS

2020-2021

A.	Academic Division: Business, Industry and Technology

B.	Discipline: Accounting

C.	Course Number and Title: ACCT2016 Taxation II

D.	Course Coordinator: Jennifer Adkins

Assistant Dean: Dr. Toni Johnson

Instructor Information:

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E.	Credit Hours: 3

F.	Prerequisites: ACCT2012

G.	Syllabus Effective Date: Fall, 2020

H.	Textbook(s) Title:

McGraw-Hill’s Taxation of Individuals and Business Entities 2020 Edition

Authors: Spilker

Copyright Year: 2020

Edition: 11th edition

ISBN: 9781259969614

Workbook(s) and/or Lab Manual:

J.	Course Description: This course is a continuation of Taxation I. Special emphasis is placed on taxation of corporate entities, partnerships, and sub-chapter S corporations. Other specific topics will include state and local income taxes and wealth planning.

K.	College-Wide Learning Outcomes:

College-Wide Learning Outcome	Assessments - - How it is met & When it is met
Communication – Written
Communication – Speech
Intercultural Knowledge and Competence
Critical Thinking
Information Literacy
Quantitative Literacy

L.	Course Outcomes and Assessment Methods:

Upon successful completion of this course, the student shall:

Outcomes	Assessments – How it is met & When it is met
Differentiate between the primary forms of business organizations: sole proprietorships, partnerships and corporations.	Weekly Homework and Exams – Weeks 1-2
Prepare Form 1065, Form 1120, Form 1120s, Schedule K-1 and related schedules.	Manually prepared and computer generated tax returns – throughout entire semester
Evaluate the requirements for corporate taxation, including the unique requirements for formation, operation, liquidation and distribution.	Tax Returns, Weekly Homework and Exams/Projects - Weeks 3-5
Evaluate the requirements for partnership taxation including the unique requirements for formation, operation, liquidation and distribution.	Tax Returns, Weekly Homework and Exams/Projects - Weeks 6-8
Evaluate the requirements for Sub Chapter S corporations including the designation and the unique tax requirements.	Tax Returns, Weekly Homework and Exams/Projects - Weeks 9-11
Analyze state and local taxation requirements.	Tax Returns, Weekly Homework and Exams/Projects - Weeks 12 & 13
Explain the ways to transfer tax and to preserve wealth that are legal under the tax code.	Weekly Homework and Exams - Weeks 14 & 15

M.	Topical Timeline (Subject to Change):

Entity overview- weeks 1 and 2

Accounting for income taxes – weeks 2 and 3

Corporate taxation – formation, operation, distribution, liquidation – weeks 3-5

Partnership taxation – forming and operation, distribution – weeks 6-8

S Corporations – weeks 9-11

State and local income tax – weeks 12-13

Transfer taxes and wealth planning – weeks 14-15

N.	Course Assignments:

Exams/Projects

Prepare tax returns – manually and computerized

Preparation for class

Weekly homework

O.	Recommended Grading Scale:

NUMERIC	GRADE	POINTS	DEFINITION
93–100	A	4.00	Superior
90–92	A-	3.67	Superior
87–89	B+	3.33	Above Average
83–86	B	3.00	Above Average
80–82	B-	2.67	Above Average
77–79	C+	2.33	Average
73–76	C	2.00	Average
70-72	C-	1.67	Below Average
67–69	D+	1.33	Below Average
63-66	D	1.00	Below Average
60-62	D-	0.67	Poor
00--59	F	0.00	Failure

P.	Grading and Testing Guidelines:

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Q.	Examination Policy:

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R.	Class Attendance and Homework Make-Up Policy:

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S.	Classroom Expectations:

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T.	College Procedures/Policies:

Important information regarding College Procedures and Policies can be found on the syllabus supplement located at

http://catalog.ncstatecollege.edu/mime/download.pdf?catoid=5&ftype=2&foid=3