College of Accounting Education el ACC 311 — Course Syllabus COURSE INFORMATION 1. Course Number EAC SIL 2. Course Name + Income Taxation 3. Course Description * This introductory taxation course is primarily concerned with Income taxation. The objective Is to develop a working knowledge of the basic principles and rules of the Income tax system as these apply to individuals, partnerships and corporations. It covers topics related to introductory concepts of Taxation, Gross Income, Inclusions, Exclusions and Deductions of Gross Income, including Final tax, Capital {gain tax and dealings in property, Income tax on individuals, Income tax on Corporations and Partnerships, Special Income taxation, Employee's fringe benefits, and Tax administration and remedies. Tax forms are provided for specific topics discussed. This course is also structured in accordance with the Certified Public Accountant (CPA) licensure examination and Philippine Quality Framework {PQF) standards, 4. Prerequisite +: ACC 21 — Intermediate Accounting 3 5. Co-equisite None 6. credit :30units Lecture 7. Cass schedule Ghours per week 8.__Program Educational Objectives (PEO): ‘Within 3 to 5 years after graduation, the accounting information system graduates will be able to: 1. Engage Inthe field of accounting or entrepreneurial undertaking that provides employment in the community. 2 Bulld and sustain a successful career In accounting through participation or Involvement in continuing professional ‘evelopment programs (CPDF) of the profession or pursue advance studies in other related area of specialization. 3, Show leadership and ethical responsibility in the practice of profession orn the community 2. Alignment of Graduate Attributes (GAS) and PEOs to SOs 50 aye le [le le l[el¥|' |) [ke [MN ole ]a[r{s |r Gating |¥ |v |v Tiviviv let ie wr Graduate [ Gawa viii de” Attributes [Gaw! vis YL 7 Gana ¥ ca 7 7 Program [PEO [¥| | + WL TL Educational | PEOZ_| 7 Objecives [p03 | % 7 Vili 10. Course Outcomes (CO) of ACC 311 and their links to Student Outcomes (SO) ‘At the end ofthe course, ‘Student Outcomes (50) the studenthas the abiity [AT 8] ¢] | epF] GAT] 7] K] Lt] M] NTO] P] Q] R) 8) T to: 04 | Explain the basic 7 7 7 7 | principles of taxation, ‘updated taxation laws and revenue regulations 02 | Apply skis in computing | # T T 7 taxes on individual, corporations, improperly accumulated earnings, ‘AGC3i1—Income Taxation | Date Revised: RevsionNo-3 | Date EFective: Page ior 9 June 15, 2023, 4% semester 2023-2024“The University af Blind College of Accounting Education ACC 311 — Course Syllabus ‘partnerships and special taxpayers. ‘C03 | Prepare tax returns using | © ‘manual and e-BIR filing, systems, Legend: 1 = Upon attainment ofthis CO, students will have been introduced to the SO. E : Upon attainment of this CO, students will have enabled themselves to attain the SO. D . Upon attainment of this CO, students will have demonstrated partly or fully the SO. ‘ACE311— Income Taxation | Date Revised Revision No.3 June 15, 2023, Date Effective: 1% semester 2023-2024 Page 2 of 9University Vision, Mission, Philosophy, Graduate Attributes, Values and Core Competency Vision: The University of Mindanao envisions to be a leading globally engaged university creating sustainable impact in society. Mission: The University of Mindanao seeks to provide a dynamic learning environment through the highest standard of instruction, research, extension ond production in a private non-sectarian institution ‘committed to democratizing access to education, Values: Excellence, Honesty and Integrity, Innovation cand Teamwork. Core Competency: Quality, affordable open education Educational Philosophy: Transformative education through polishing diamonds in the rough. ST ‘Student Outcomes (SO) that applies to this course tert 1 eectaly commana ory ann write ne oth Engh and is «ort elec ardindependertyn m-acpnary and mutual eas arte}, 6 Aetinreccentionof rotenone retponsiy, «Pred orte"lovohtoa nds be Ider and describ he use coneps tht under ac a the fanena ae ‘wines mating ance, human resources management, positon sn ‘pean: management, ifomatoneemology, nates mangement a6 tpl thes concen various bine anton, Sect he proer decsen-maing tol to cen, nately and erent soe cles and re rent tapestry and commune leciay wh aah both in can swsten forms | Ary irformation nd comeurcaton enon CT sis requ the Won etl wh ether ahaa and mange confi athe wot | tanita ind roup tops and incest bans retedactiite im Cemensate corporate tesa ase eporsbiy tical aca, robes, witha fob naetepepepective owing nd tec roicencyin the aea of anc sung nd ‘eporog cost accunting an marageent aecuning an etl tation, and > Cond accounting inleeraton stem reearch rough independent tues eewant erature nnd approotie se of curing teary and methodsopes, 1 npg tecalgy a anne tol capturing far and non tnan Inermaton geerting rears and ating seins "7 Aopv nowiee and lio uct eaponatovarcutypesc semen ae lun rotesuonaleraue and creation {Content siti commitment to god corprate een, ‘esprit dens pace mptormingunctns aan aeeourar; and {Grduaten clues putpate inthe generation of nee howled arn reuarch and cevtopment oer discs th lest deepens in te spc df ractcn POF College of Accounting Education ACC 311 — Course Syllabus Program Educational Objectives (PEO) a! PEO 1: Engage In the field of accounting or entrepreneurial undertaking that provides ‘employment In the community, PEO 2: Bulld and sustain a successful career in accounting through participation Cor Involvement in continuing Professional Development Programs (CPOP) of the profession or pursue advanced studies in other related areas of specialization PEO 3: Show leadership and ethical responsiblity in the practice of profession cr in the community. 0.1. Explain the basic principles of, taxation, updated taxation laws and revenue regulations. €CO.2. Apply sils in computing taxes on Individual, corporations, improperly accumulated earnings, partnerships and special taxpayers. CO 3: Prepare tax returns using manual and eBIR fling systems. Date Revised: June 15,2023, ‘ACC311 — Income Taxation RevisonNo.3 | Date Effective: 1" semester 2023-2024 Page Sof 9®UM College of Accounting Education ACC 311 — Course Syllabus June 15, 2023 Course Outcomes Assessment Tak ‘sessment Coverage Schedule Theory-based Practice-based COi~Expan the base | Mca/Shor Fist ram] introductory Concepts of Tamation Principles of taxation, Answer (100%) Classification of Income Updated taxation laws + Compensation income and revenue regulations. s? (emiee Gear a sagopa netesraname computing taxes on aire Inclusions of Gross Income hurler seamutaed + Exclusion of Gross income earings, partnerships and special taxpayers CO1 - Explain the basic ‘MCO/Short Second ‘Deductions from Gross Income principles of taxation, | Answer (100%) eam Regular Alonableemized Updated taxation laws Deductions and revenue regulations. + Special Alowable terized Deductions 02 Apply skis in + Optional Standard Deduction computing taxes on Income Taxation on Individuals indtidal, corporations, * Cassifeation of individual improperly accumulated Taxpayer earings, partnerships + Computation of individual and special taxpayers, Income Tax Toi kaplan the base | MCO/SFOR Thiam Final Tax principles of taxation, | Answer (100%) Capital Gains Tax Updated tation laws Dealings in Properties and revenue regulations. Fringe Benefits Tax C02 ~ Apply skills in computing taxes on individual, corporations, properly accumulated earings, partnerships and special taxpayers GOT = Explain the baie | WICO/SFOR Fourth | come Taxation on Corporations principles of taxation, | Answer (70%) bam + Clssfaton of Corporate Updated taration laws Taxpayers and revenue regulations. + special Corporate Taxpayers partnership, co-ownership o2~ Apply sil in and Joint Venture computing taxes on 4 Computation of Corporate individual, corporations, Taxpayers income tax improperly accumulated carnings, partnerships an special taxpayers. C03 — Prepare tax returns: Tax return Filing of Income tax return for Using either manual fling preparation feavcdlandonpoats Giosers system or eB offne (G0%) forming (Practice-based) AEESAT=Income Taxation | Date Revised: Revision Nord | bate Efeaive Pagedot 9 1 semester 2023-2024The Universtiy of Mindanas College of Accounting Education ACC 311 — Course Syllabus Assessment Task Details (Theory and Practice-based) [ASSESSMENT COVERAGE ASSESSMENT DETAILS SCHEDULE TASK. First Introductory Concepts of | MCQ/Short You are expected to show knowledge on basic principles of Examination | Taxation ‘Answer (100%) | taxation, updated taxation laws and revenue regulations. Classification of Income | (Theory-based) © Compensation Specifically, you should: Income ‘a. Understand the concept, and general principles of © Business tein income 'b. Understand the concept and classification of income, {21055 Income, and Its inclusions and exclusions © Professional interns Integration: Gross Income . SDG - Quality Education and Partnership to © Inclusions of achieve the Goal. Gross Income . 2st Century Skills. — Critical thinking, © Exclusions of Collaboration, Communication, Social Skills, and Global Gross income awareness Second Deductions from Gross | MCQ/Short ‘You are expected to apply specific knowledge on deductions Examination | Income ‘Answer (100%) | from gross income and income taxation on individuals. You © Regular (Theory based) | are also expected to apply this set of knowledge in actual Allowable computation of income tax return for individual taxpayer. Itemized Deductions Specifically, you should: © Special la. Understand the concept of deductions from gross income, Allowable the regular and special allowable itemized deductions, Itemized ‘and the optional standard deduction. Deductions lb. Understand the classification of individual taxpayers. ‘© Optional |c. Identify classification of income earned by individual Standard taxpayers and its allowable deductions. Deduction |d. Compute Income tax for individual taxpayers. Income Taxation on Individuals Integration: ‘* Cassification of . ‘SDG - Quality Education and Partnership to Individual achieve the Goal. Taxpayer is 2ist Century Skills — Critical thinking, ‘Computation of Collaboration, Communication, Social Skills, and Global Individual awareness Income Tax Third Final Tax MCO/short You are expected to demonstrate a comprehensive Examination | Capital Gains Tax ‘Answer (100%) | knowledge and understanding of final tax, capital gains tax, Dealings in Properties | (Theory based) | dealings in properties, and the employees Fringe benefits Fringe Benefits Tax and fringe benefits tax. ‘Specifically, you should: '@ Understand the concept and nature of final tax, capital gains tax and dealings In property. 'b. Describe the concept of employees’ fringe benefits and fringe benefits tax. Integration: . SOG - Quality Education and Partnership to achieve the Goal. . 2ist Century Skills. — Critical thinking, Collaboration, Communication, Social Skills, and Global ‘ACC311 Income Taxation | ate Revised: June 15, 2023 RevisionNo.3 | Date Effective: Page Sof 9 1* semester 2023-2024College of Accounting Education | ACC 311 — Course Syllabus Fourth income Taxation on | MCQ/Shon] You are expected to dernonsirate deep Mnowledge on the amination | Corporations Answer (70%) | principles of Income taxaton on corporate taxpayers and + Cassiteation of | (Theor-based) | expected to apply skill In actual computation of corporate Corporate taxpayer income tax Taspeyers © Special Specifically, you should: Corporate 2. Understand the concept and nature of income taxation Taxpayers con corporate taxpayers + Partnership, . Understand the clssfiation and the taxes imposed for Coownership, corporate taxpayers. andoint Understand the concept and nature of Special Venture corporate taxpayers, Partnership, co-ownership, and * Computationot Joint ventures. Corporate 4. Apply concepts In computing corporate taxpayer's Txperers income tax. income tax Integration: 2 $0G = Quality Education and Partnership to achieve the Goal s Bist Centuy Skis — Gita! thinking, Colaboration, Communication, Socal Sts, and Global awareness Assessment Task Details (Practice-based) ScHEpE | coverace [ASSESSMENT TASK DETAILS Fourth Exam | Fling of come tax | Tax Return 7 in tis task, you are expected to demonstrate your sila return for Preparation. preparing both quarterly and annual income tax return, for Individual and (30%) Individual and corporate taxpayers using the manual filing Corporate (Pracice-based) system, depending on the questionnaire provided by the taxpayers. Subject teacher. Foryouto accomplish this, your knowledge and ality to compute the relevant taxis imperative. + You wil assume the role ofan accountant preparing the tax form of an external client who is in need of a tax expert for compliance of annual T submission. + Download, print and read the contents, inciding the {udelines and instructions ofthe following IR Forms: For individual taxpayers: 1, BIR Form 1701 (Quarterly Income Tax Return) 2, BIR Form 1701 (Annual Income tax Return) For Corporat taxpayers: 1. BIR Form 17020 (Quarery Income Tax Return) 2._BIR Form 1702-8 (Annual Income Tex Returt) Bring in clas atleast 1 copy ofeach ofthese BIR forms which You will use fr the purpose of accomplishing the required task on testing day. + Testing scheduled one week before the final exam, + Youll be graded forthe tax return prepared according to the manual tax return preparation rule Integration: + S0G~Quality Education and Partnership to achieve the Goal. + 21st Century Sils~Crtcal thinking Collaboration, Communication, Social Sli, and Global awareness, ‘ACC 311 Income Taxation | Date Revised: Revision No.3 | Date Effective: Page bar ® une 15,2023 1 semester 2023-2024College of Accounting Education ACC 311 — Course Syllabus 12. COURSE OUTLINE AND TIME FRAME TIME TOPICS TEACHING and RESOURCES FRAME LeaRNiNG ACTIVITIES Week | Orientation on Classroom Orientation Republic Act 428 1to | Management and University bitns/ fer officlalearette.gov.nh/1997/12/11/0 Week | Policies as wellas Grading System | Interactive eoublicact-no:2474/ 3 Lecture/Discussion Discussion of Program Educational Republic Act 10963 (TRAIN Law) Objectives (PEO), Student Think, Pair and Share | https//www bir gov ph/index.php/tral Outcomes, and Course Outcomes (O8E principles) Assignment/seatwork Gross income: Inclusions and Exclusions Introductory Concepts of Taxation | Group Acthvty htpe//viczudani weebly, Com Classification of income Oral Recitation * Compensation Income Republic Act No. 9337 * Business Income Case study analysis | bttos//www.offilalgazette gov.oh * Professional income Blackboard Learn ‘etiities Gross income ‘© Inclusion of Gross Cpa Aan income feodlness + Exclusions of Gross income FIRST EXAMINATION Week | Deductions from Gross income] interactive Republic Ac 10863 (TRAIN Law) 4to Lecture/Discussion it. jh/index. rain. htm! Week + Regular Allowable 5 Itemized Deductions _| Think,Pairand Share Filing of return and payment of monthly and + Special Allowable Assignment/Classroom | quarterly and annual income tax return RemsedDeducons | Srna aeuy + Optional standard Deduction Group Activity Enhanced BIR Form 1701 frtosi//mm.grantthornton.com.ph Income Taxation on Individuals Question-Answer hs Relationship + Chassfcaton of individual ‘Taxpayer Workshop on manual + Computation of individual | individual income tax income Tax return preparation Blackboard earn Activities Open Education Resources ‘SECOND EXAMINATION Week] Final Tax Tateractive Employers Tax guide to Fringe benefits 6 Lecture/Discussion | https //wwmits.zov.0h To | capital Gains Tax Week Assignment/classroom 7 | beatings in Properties exercises ‘ACC3I1~Income Taxation | Date Revised: Revision No.3] Date Efectver Page 7 of 9 June 15, 2023 1 semester 2023-2024College of Accounting Education ACC 311 - Course Syllabus Fringe Benefits Tax ‘Smal group discussion Graded Oral Recitation Questlon-Answer Relationship Blackboard Learn Activites (Open Education Resources THIRD EXAMINATION Week | income Taxation on Corporations | Interactive Tncome Tax Bureau of laternal Revenue | 3 Lecture/Discussion | ttos//www.bt.gov.oh to ‘© Classification of Corporate Week ieniyer Assignment/classroom | Revenue Regulations —eFPS BIR 9 = Special Corporate bas sence ‘httos://efps.birgov.ph ‘Taxpayers © Partnership, Co Think, Palrand Share | s4e.on how to ile Income Tax Retum ‘ownership and Joint Venture Group discussion bnttosy//aheaccounting.com ‘© Computation of Corporate Taxpayers income tax | Graded Oral Recitation Workshop on manual corporate income tax return preparation Blackboard Learn ‘Activities Open Education Resources FOURTH EXAMINATION 13. TEXTBOOK ‘Banggawan, Rex B. (2019). Income Taxation Laws, Principles and applications. Pasay City: Real Excellence Publishing 14, REFERENCES, a. Casasola, E. (2019). NIRC and other tax laws, Manila: Rex Book Store. b. Dasel,R, (2018). NIRC of the Philippines as amended: annotated. Manila, Philippines: Rex Bockstore. Sth Edition _Urinov, V. (2019), Taxation of Forelgn-Source income of resident individuals: a structural enforcement through ‘automatic exchange of tax information. IBFD. https://ebookcentral.proquest.com/ib/uniofmindanzo- ‘ebooks/detailaction?docID=6176414, d. Revenue Regulations downloadable from httpsi//www.bir gov.ph/index.php/revenue-issuances/revenue- regulations/2021-revenue-regulations.htm fe. Revenue Memorandum Circulars downloadable from https://www.ir.gov.ph/index.php/revenue- Issuances/revenue-memorandum-circulars/2021-revenue-memorandum-circulars.html Uamado, €. & De Vera, J. (2020). Philippines income tax. (volume 182). Manila, Philippines : GIC Enterpri 0. ‘ACC311— Income Taxation | Date Revised: RevisionNo.3 | Oate Effective: Page Sof 9 June 15, 2023 2 semester 2023-2024College of Accounting Education ACC 311 - Course Syllabus 15. COURSE EVALUATION Assessment Task Course Outcomes/Welh! _—__! peedback Method Quiz/Assignment/Recitation 10% In-Person/LMS Research/Requirements 20% Rubrics MCQ/Short Answer (Exam 3) 10% In-Person (Exam 2) 10% In-Person (Exam 3) 10% In-Person ‘Comprehensive Examination 28% In-Person ‘Competency Assessment 12% | Rubrics TOTAL 100% “Base-15 grading 16. POLICIES AND GUIDELINES 7 5 ‘Attendance is counted from the first regular class meeting. A validated student identification card must always be worn by al students while attending classes. Cheating, plagiarism, and all forms of academic dishonesty are expressly forbidden in this course, and by the University’s Policy on Academic integrity. Examples of such violations include but not limited to: 1. Collusion, purchasing, or commissioning an assessment task/research paper; 2. Copying verbatim from a research article/book/journal/etc.; 3. Copying verbatim from generated Al, such as ChatGPT; 4, Falsfying or inventing any information, data or citation; and 5. False representation. Such acts shall automatically be elevated to OSA/SCC/USCC for disciplinary action. Valid examination permits are necessary in taking the examinations as scheduled. PRESCRIBED PRC CALCULATORS are allowed during EXAMINATIONS. Base-15 grading policy should be observed. Students who obtained falling scores in major exams are recommended toattend the tutorial class. For other policies and guidelines, refer to Student Handbook. Prepared by: Reviewed by: fu GERALENE(C. CLARITO CPA, MBA mari |) MBA, CPA Faculty Member Progam Copsdinator, BSAIS References Reviewed by: Recommending Approval ay BACANI, MAED LORD EDDIE |. AGUILAR, MBA, CPA Head, Library and Information Center Dean, College of Accounting Education ‘Approved by: Ped CASTILLO MI, EdD VP, Institute of Peday jvancement and Competitiveness ‘ACC 311—Income Taxation | Date Revised: Revision No.3 | Date Effective: Page Sof 9 June 25, 2023, 18 semester 2023-2024