ACIS 4314 Principles of Taxation

CLASS TIMES/
LOCATION:

Fall 2014

PREREQUISITE:

Section 80149: MWF 9:05 AM 9:55 AM / DER 3081

Section 80151: MWF 11:15 AM 12:05 PM / SURGE 109
Section 80150: MWF 12:20 PM - 1:10 PM / SURGE 107
ACIS 3314

INSTRUCTOR:
OFFICE:
EMAIL:
OFFICE HOURS:
COURSE WEBSITE:

Jingjing (Jing) Huang, Ph.D.

PAM 3112
jjhuang@vt.edu
Monday 2:30 PM - 3:30 PM and Wednesday 2:30 PM 3:30 PM
Located on Scholar at http://scholar.vt.edu/portal

COURSE DESCRIPTION:
Survey of basic concepts of federal income taxation that are common to all types of taxpayers (i.e.
individuals, corporations, and flow-through entities). Topics to be covered include tax policy objectives,
tax accounting methods that affect the timing of income and expense recognition, concepts of gross
income and trade or business expenses, income character, and tax issues associated with various property
transactions.

LEARNING OBJECTIVES:
Upon completion of this course, the student should be able to:
1. Apply the basic rules related to income and expense measurement, income character, property
transactions, and the timing of income and expense recognition in the tax context.
2. Identify the social and economic objectives embedded in the tax law that result in measures of taxable
income that differ from those used in other accounting contexts (e.g., financial reporting).
3. Develop basic research skills necessary to cope with frequent changes in tax rules.
4. Develop critical thinking skills necessary to become a knowledgeable consumer of and participant in
tax policy debates.

REQUIRED TEXT:
Custom text for Principles of Taxation - ACIS 4313 - Fall 2014
(Spilker, et al., Taxation of Individuals and Business Entities, 2015 Edition)
COURSE INFORMATION:

ACIS 4314 Principles of Taxation

Fall 2014

All course information (including syllabus, lecture presentation slides, etc.) will be available through the
Scholar web site for the course that is accessible through the Scholar portal: https://scholar.vt.edu/portal.
You are responsible for checking the Scholar site regularly for any announcements.
Note that lecture presentation slides will be regularly updated before each class. It is your responsibility to
check the updated lecture slides before each class.

GRADES:
The following grading scale will be used:
A
AB+
B
BC+
C
CD+
D
DF

92-100%
90-91%
88-89%
82-87%
80-81%
78-79%
72-77%
70-71%
68-69%
62-67%
60-61%
0-59%

Grade breakdown is as follows:

Exam 1
Exam 2
Exam 3 (Comprehensive Final)
Quizzes
Tax Project

25%
25%
25%
15%
10%

ASSIGNMENTS:
Exams: Exam dates and times appear in the schedule portion of this syllabus. During exams, students
may use one note sheet (8.5 x 11 sheet of paper) both sides, with original handwritten notes, plus a pencil,
and a calculator. When I say calculator, I mean calculator. You will not be able to use a smartphone or
other electronic device as a calculator during exams. No make-up exams will be given for Exams 1 or 2.
NO EXCEPTIONS! If either Exam 1 or 2 is missed, for any reason, the Exam 3 Comprehensive Final
score will replace the missed exam score. Since the Final is comprehensive, if you get a higher score on
your Final than your lowest score on either Exam 1 or Exam 2, the score from your Final will replace that
lowest score.
Quizzes: There will be an in-class quiz given for each chapter of the book. During quizzes, students may
use one note sheet (8.5 x 11 sheet of paper) both sides, with original handwritten notes, plus a pencil, and
2

ACIS 4314 Principles of Taxation

Fall 2014

a calculator. Quiz dates appear in the schedule portion of this syllabus. No make-up quizzes will be given.
NO EXCEPTIONS! I will drop your lowest quiz score to accommodate situations where it is necessary
for you to miss class.
Tax Project: You will be required to complete a tax project that will be due at the end of the semester. I
will provide the project instructions during the semester, and you are free to complete it as early or as late
in the semester as you choose. The available and due dates are in the schedule portion of this syllabus. NO
LATE PROJECT IS ACCEPTED! It is an individual project.
COMMUNICATION:
You are responsible for the content of any e-mail, My Scholar announcements or classroom
announcements. If you e-mail me, please include ACIS 4314 in the subject line. You must allow a
maximum of 24 hours Monday Friday for responding to your emails. Any emails received over the
weekend will be responded to on the following Monday latest. If my office hour does not work for you,
please email me to set up an appointment.

HONOR SYSTEM:
THE HONOR CODE WILL BE STRICTLY ENFORCED IN THIS COURSE. ALL ASSIGNMENTS
SUBMITTED SHALL BE CONSIDERED GRADED WORK, UNLESS OTHERWISE NOTED. ALL
ASPECTS OF YOUR COURSEWORK ARE COVERED BY THE HONOR SYSTEM. ANY
SUSPECTED VIOLATIONS OF THE HONOR CODE WILL BE PROMPTLY REPORTED TO THE
HONOR SYSTEM. HONESTY IN YOUR ACADEMIC WORK WILL DEVELOP INTO
PROFESSIONAL INTEGRITY. THE FACULTY AND STUDENTS OF VIRGINIA TECH WILL NOT
TOLERATE ANY FORM OF ACADEMIC DISHONESTY.

SPECIAL NEEDS:
If you need adaptations or accommodations because of a disability (learning disability, attention deficit
disorder, psychological, physical, etc.); if you have emergency medical information to share with me; or if
you need special arrangements in case the building must be evacuated, please make an appointment with
me as soon as possible. If you need captioning for videos, please let me know no later than two weeks in
advance of date on schedule for viewing.

CAVEAT:
This syllabus includes policies and plans for the course that may require adjustment. I reserve the right to
make changes at any time during the semester with notice to the class.

ACIS 4314 Principles of Taxation

DATE
August 25
August 27
August 29
September 1
September 3
September 5
September 8
September 10
September 12
September 15
September 17
September 19
September 22
September 24
September 26
September 29
October 1
October 3
October 6
October 8
October 10
October 13
October 15
October 17
October 20
October 22
October 24
October 27
October 29
October 31
November 3
November 5
November 7
November 10
November 12
November 14
November 17
November 19
November 21
November 24
November 26
November 28
December 1
December 3
December 5
December 8
December 10
December 11

TOPIC
Course Introduction
Entities Overview
Entities Overview
Chapter 15 Quiz
Business Income, Deductions, and Accounting Methods
Business Income, Deductions, and Accounting Methods
Business Income, Deductions, and Accounting Methods
Chapter 8 Quiz
Property Acquisition and Cost Recovery
Property Acquisition and Cost Recovery
Property Acquisition and Cost Recovery
Chapter 9 Quiz
Review
EXAM 1
EY presentation
Property Dispositions
Property Dispositions
Chapter 10 Quiz
Corporate Operations
Corporate Operations
Fall Break No Class
Corporate Operations
Tax return project is available
Chapter 16 Quiz
Accounting for Income Taxes
Accounting for Income Taxes
Accounting for Income Taxes
Chapter 17 Quiz
Review
EXAM 2
Corporate Taxation: Nonliquidating Distributions
Corporate Taxation: Nonliquidating Distributions
Corporate Taxation: Nonliquidating Distributions
Chapter 18 Quiz
Corporate Formation, Reorganization, and Liquidation
Corporate Formation, Reorganization, and Liquidation
Corporate Formation, Reorganization, and Liquidation
Chapter 19 Quiz
Forming and Operating Partnerships
Forming and Operating Partnerships
Thanksgiving Break No Class
Thanksgiving Break No Class
Thanksgiving Break No Class
Chapter 20 Quiz
Dispositions of Partnership Interests and Partnership Distributions
Dispositions of Partnership Interests and Partnership Distributions
Tax return project is due
Chapter 21 Quiz
Review
Reading day

Fall 2014
READING
Chapter 15
Chapter 15
Chapter 15
Chapter 8
Chapter 8
Chapter 8
Chapter 9
Chapter 9
Chapter 9

Chapter 10
Chapter 10
Chapter 10
Chapter 16
Chapter 16
Chapter 16

Chapter 17
Chapter 17
Chapter 17

Chapter 18
Chapter 18
Chapter 18
Chapter 19
Chapter 19
Chapter 19
Chapter 20
Chapter 20

Chapter 21
Chapter 21

ACIS 4314 Principles of Taxation

Final exam schedule
December 16
COMPREHENSIVE FINAL EXAM Section 80149
December 12
COMPREHENSIVE FINAL EXAM Section 80150
December 17
COMPREHENSIVE FINAL EXAM Section 80151

Fall 2014
10:05AM 12:05PM
7:45 AM 9:45 AM

4:25PM - 6:25PM