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BA-430 Taxation

GENERAL INFORMATION:

Course title: BA 430 Taxation

Campus: National

Initiator: Jean-Pierre Lukusa

Date Initiated: June 1st 2021

Course description:
This course aims to provide the student with an understanding of general principles of taxation. The focus of the course is on the taxation of business entities in both the Federated States of Micronesia and the United States of America. It covers individual taxation of proprietors, shareholders, partners, and employees. The student will prepare a tax report based on a case study.

COURSE HOURS/CREDITS:

   

Hours per Week

 

No. of Weeks

 

Total Hours

 

Semester Credits

Lecture

  

3

x

16

x

48

=

3

Laboratory

    

x

  

x

  

=

  

Workshop

    

x

  

x

  

=

  
       

Total Semester Credits

  

3

PURPOSE OF COURSE:

[X] Degree requirement

[ ] Degree elective

[ ] Certificate

[ ] Other

PREREQUISITES:

  • BA 330 Intermediate Accounting

PSLOs OF OTHER PROGRAMS THIS COURSE MEETS:

PSLO# Program
N/A  

1) INSTITUTIONAL STUDENT LEARNING OUTCOMES (Check all that apply)

[ ]

1. Effective oral communication: capacity to deliver prepared, purposeful presentations designed to increase knowledge, to foster understanding, or to promote change in the listeners’ attitudes, values, beliefs, or behaviors.

[ ]

2. Effective written communication: development and expression of ideas in writing through work in many genres and styles, utilizing different writing technologies, and mixing texts, data, and images through iterative experiences across the curriculum.

[X]

3. Critical thinking: a habit of mind characterized by the comprehensive exploration of issues, ideas, artifacts, and events before accepting or formulating an opinion or conclusion.

[X]

4. Problem solving: capacity to design, evaluate, and implement a strategy to answer an open-ended question or achieve a desired goal.

[ ]

5. Intercultural knowledge and competence: a set of cognitive, affective, and behavioral skills and characteristics that support effective and appropriate interaction in a variety of cultural contexts.

[ ]

6. Information literacy: the ability to know when there is a need for information, to be able to identify, locate, evaluate, and effectively and responsibly use and share that information for the problem at hand.

[ ]

7. Foundations and skills for life-long learning : purposeful learning activity, undertaken on an ongoing basis with the aim of improving knowledge, skills, and competence.

[X]

8. Quantitative Reasoning: ability to reason and solve quantitative problems from a wide array of authentic contexts and everyday life situations; comprehends and can create sophisticated arguments supported by quantitative evidence and can clearly communicate those arguments in a variety of formats.

2) PROGRAM STUDENT LEARNING OUTCOMES (PSLOs): The student will be able to:

  1. Apply skills concepts and techniques in main functional areas of business and accounting;
  2. Interpret and use quantitative techniques in solving business problems and decision-making using technological tools;
  3. Develop and apply effective intercultural oral and written communication skills appropriate for business; and
  4. Recognize and assess basic legal, environmental, and ethical challenges confronting businesses in general.

3) COURSE STUDENT LEARNING OUTCOMES (CSLOs) (General): The student will be able to:

  1. Describe tax concepts, taxation process, tax obligations, and the nature and types of taxpayers;
  2. Compute taxable income, income tax and tax due for each type of taxpayer in the USA and the FSM; and
  3. Compute gains/losses on property taxes and applicable taxes on property transactions.

4. COURSE STUDENT LEARNING OUTCOMES (CSLOs) (Specific): The student will be able to:

CSLO (General) 1: Describe tax concepts, taxation process, tax obligations, and the nature and types of taxpayers.

Student Learning Outcome (specific)

ISLO

PSLO

Assessment Strategies

1.1 Discuss the aspects of taxation, including limitations and characteristics of tax.

3

4

The student will complete an assignment graded by a rubric focused on fundamentals of taxation.

1.2. Discuss the application of tax law.

3

4

The student will complete an assignment graded by a rubric focused on tax law application.

1.3 Examine taxes in the financial statements.

3, 8

4

The student will complete an assignment graded by a rubric focused on taxes in financial statements.

CSLO (General) 2: Compute taxable income, income tax and tax due for each type of taxpayer in the USA and the FSM.

Student Learning Outcomes (specific)

ISLO

PSLO

Assessment Strategies

2.1 Compute individual tax liability.

4*, 8

4

The student will compute tax liability of an individual graded by a rubric focused on individual tax.

2.2 Compute tax liabilities of partnership and limited liability companies.

4, 8

4

The student will compute tax liability of partnerships and limited liability companies (LLCs) graded by a rubric.

2.3 Compute tax liabilities of corporations.

4, 8

4

The student will compute tax liabilities of corporations graded by a rubric.

CSLO (General) 3: Compute gains/losses on property taxes and applicable taxes on property transactions.

Student Learning Outcomes (specific)

ISLO

PSLO

Assessment Strategies

3.1 Discuss property transactions.

3, 8

4

The student will complete an assignment graded by a rubric focused on property transactions.

3.2 Compute taxes on property and property transactions.

3, 8

4

The student will compute property tax graded by a rubric.

5) COURSE CONTENT:

  • Characteristics and limitations of tax.
  • Application of tax law.
  • Taxes in financial statements.
  • Individual and proprietary tax.
  • Partnership and limited liability company tax.
  • Corporate tax.
  • Property transactions.

6) METHOD(S) OF INSTRUCTION:

[X] Lecture [ X ] Cooperative learning groups

[ ] Laboratory [ X ] In-class exercises

[ ] Audio visual [ ] Demonstrations

[ X ] Other - Learning Management System

7) REQUIRED TEXT(S) AND COURSE MATERIALS:

8) REFERENCE MATERIALS:

  • Ballada, Win Lu: Income Taxation Made Easy, 2004 ed., DomDane Publisher, 2004 (or most recent edition)
  • Willis, et. al: South-Western Federal Taxation Comprehensive Volume, 2011 ed.,, South-Western College, USA: 2010 (or most recent edition).

9) INSTRUCTIONAL COSTS: None.

10) EVALUATION:

Summative evaluation is accomplished by having the student complete midterm and final exams.

The student must achieve a grade of “C” or higher to pass the course.

11) CREDIT BY EXAMINATION: None.

BA 430 Taxation

 Endorsed by CC: 07/28/22
  Approved by VPIA: 07/29/22

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