FEDERAL INCOME TAX 1331

FINANCIAL ACCOUNTING 2401

Professor/Instructor David Loper Phone 903-675-6373

Office: 111T Hours: As posted E-mail: dloper@tvcc.edu

COURSE DESCRIPTION:

FEDERAL INCOME TAX 1331

Prerequisites: Approval of Division Chairperson and Instuctor

This course primarily focuses on federal income taxation for individuals. Emphasis is placed on the preparation of Form 1040, along with various supporting schedules.. Attention is also placed on the use of data processing equipment in the preparation of the various tax forms and schedules.

TEXTBOOK, SUPPLIES AND OTHER RESOURCES

REQUIRED TEXT: Income Tax Fundamentals, by Gerald Whittenburg and Martha Buller, 2004 , San Francisco, California.

COURSE GOALS

1. To develop marketable skills in Accounting and related clerical activities.

2. To acquire an understanding of Accounting principles and terminology.

3. To develop desirable work habits and attitudes needed for success in business.

4. To understand how the basic principles of Accounting may be applied to personal and business use activities.

5. To contribute to general education an understanding of common economic concepts and the language of business.

6. To appreciate the opportunities business offers in a free enterprise system.

REQUIREMENTS FOR ALL STUDENTS:

Complete all assigned readings and related homework. Come to class prepared . Bring appropriate and prescribed materials to class. Perform at a 60% level or above on all tests. Come to class all the time and on time. Papers may be hand written if legible. Students are expected to demonstrate a mature attitude toward the subject matter and participate enthusiastically in class. The specific performance objectives for this course are listed at the beginning of each chapter in the text. These objectives state what is expected, in terms of student performance, for the material being studied.

INSTRUCTIONAL STRATEGIES:

1. Lecture presentation of principal points in the units being studied.

2. Questions by students and instructor

3. Discussion of relevant materials and ideas.

4. Review of chapter material by short practical problems solved during class.

5. Assigned problems are worked under teacher supervision.

6. Individual help and attention is given to each student when needed.

7. Evaluation of student solutions individually.

8. Overhead projector use in presentation of exercised, relevant material, assigned and supplemental

material.

9. It should be advised that each should acquire a hand-held calculator capable of doing addition,

subtraction, multiplication, and division of up to eight digits.

10. Occasionally guest speakers will be invited to present relevant ideas and topics.

EVALUATION/GRADING/ASSESSMENT POLICIES:

Your final grade for this course will be based on the following factors:

(1) Major test; (2) Workbook assignments; (3) Exercises; (4) Final Examination; (5) Internet Assignments

(1) Major tests: Several major tests will be given. Most tests will be given in two parts. One part is given during the lecture and one part is given during the lab. If you can complete both parts during one period this is fine. The tests will composed of Accounting terminology and preparation and completion of various accounting problems. Hand-held calculators may be used on the tests and for the solutions of workbook problems and exercises.

(2) Workbook problems: You will be assigned selected problems for each chapter to work and turn in. A due date will be announced, and the completed problems will be due at the end of the lab period on that day. Workbook problems will be accepted one class period after the test unless otherwise stated.

(3) Exercises: Selected exercises from the book will be selected. These are optional for you to work and must be completed on notebook paper.

(4) Final Examination: The final exam will not be comprehensive as such. It will be given on the material we are covering at the time of the end of the semester, which is usually chapter 24. There will be not make-up for the final exam. If you miss it, it will be counted as "O". The final exam will be given as shown on the final exam schedule. The only exception will be if you provide me a signed letter from Dr. Huffstutler authorizing me to give your final exam at a time other that the regular scheduled time.

Several major tests, including the final examination, will be administered. The score on each test will be added together and divided by the total number of tests administered. The result of the division will be the final average for the semester. Other factors that have a positive influence on the grade will be attendance and attitude toward the course, response to questions and discussion, and promptness and degree of accuracy in preparing assigned problems. In addition 2 (2) points will be added to the final average for completion of the assigned problems in the workbook and internet assignments.

MAKE-UP POLICY:

Students will be allowed to take ONE make-up test during the entire semester. Students will be allowed to choose the test they would like to make-up. This make-up test grade will be used to replace a low test score or to replace a "O" score received on a test missed. Make-up test scores may not be substituted for the score on the FINAL exam.

STUDENT REQUIREMENTS:

All students are expected to :Complete all lessons. Attain specific competencies as indicated on the course outline and schedule. Do all assigned readings and related homework. Come to class prepared.. Bring appropriate study materials to class. Perform at the 60% or above level on all tests and assignments... Come to class and be on time. Papers may be hand written if legible.

ATTENDANCE AND BEHAVIOR:

Attendance policy is summarized as follows: Class attendance is mandatory Regular class attendance is essential for successful completion of the course and the earning of credit. Class attendance will be recorded daily. Class attendance will become a part of each student's permanent record. Excessive absences are explained in the TVCC Catalog. Instructors may drop students for excessive absences. Students are expected to be in class on time. Excessive or frequent tardiness will cause the course grade to decrease. All students are considered mature individuals by the faculty and staff. Students will be required to conduct themselves with utmost consideration of the rights and property of others. Any behavior on the part of a student that interrupts or impedes quality instruction shall not be permitted. Unrelated talking and other chatter in class will not be tolerated. Monopolizing class discussions to the detriment of other student's rights to enter into class discussion will not be tolerated. It is expected that each student will respect the rights and opinions of other students. Inappropriate behavior which continues after the instructor's reprimand will be dealt with by administration. If an instructor deems an article of clothing unsafe or otherwise improper, the student will be dismissed to go home and change. Radios, tapes, cell phones, pagers, CD players, and other audio or video equipment are not permitted in the classroom at any time. Horseplay will not be tolerated in the classroom or lab areas. Obscene and profane language will not be tolerated. Food and drink may not be taken into the labs or classrooms. Smoking is not permitted in any building on the campus. No weapons are allowed on school property.

OTHER INFORMATION:

No children and only approved guests are allowed to visit the class.

TRINITY VALLEY COMMUNITY COLLEGE

CONTRACT

FOR GRADE

INCOME TAX FUNDAMENTALS

The Student shall complete the following appropriate work for a grade to be awarded in the course Income Tax Fundamentals. The work shall be completed in a timely fashion and submitted to the instructor or designee (Office 111 Tech). The work shall be completed on a weekly basis for the instructor to grade and return to the student and the student shall retain the work in a folder until the end of the Fall Semester 2002.

The work to be completed is as follows:

FOR A GRADE OF AN A:

Find and Summarize and series of twelve (12) articles that relate to the Internal Revenue, use the IRS website, www.irs.gov to find many articles.

Complete all of the Group III Comprehensive Problems

Complete a Test on each Chapter with a Grade of 90 or Above

FOR A GRADE OF B:

Complete a Test on each Chapter with a Grade of 80 to 89

FOR A GRADE OF C:

Complete a Test on each Chapter with a Grade of 70 to 79

FOR A GRADE OF D:

Complete a Test on each Chapter with a Grade of 60 to 69.

Please place an X by the side of the grade that you with to complete a contract. Please initial the selection.

If you are unable to complete all of the requirements for which you have contracted you will be given the grade for which you have completed the requirements. If you are in the process of completing the requirements for the next grade at the time of the end of the semester you will be given the grade for which you have completed the entire assignment list. You will not be given the next highest grade until you have completed all of the requirements for the grade as listed. All work must be completed in a timely manner and no early chapter assignments will be accepted late in the semester.

___________________________ _______________________________

Student’s Signature Instructor Signature

Date approved:_____________________

Student (print)__________________________________________________

SS#_____________________

Address:_______________________________ City:________________________

State:__________________________________________

Phone number#:___________ Email:____________________

Course Name and Number______________________________

Semester:_______________ Year:___________ Date Submitted:_____________