Applied Personal and Corporate Taxation
  I: Administrative Information   II: Course Details   III: Topical Outline(s)  Printable Version
Section I: Administrative Information
  Total hours: 63.0
Credit Value: 4.5
Credit Value Notes: N/A
Effective: Winter 2020
Prerequisites: N/A
Corequisites: N/A
Equivalents: N/A
Pre/Co/Equiv Notes: N/A

Program(s): Adv Cert Accounting & Finance
Program Coordinator(s): N/A
Course Leader or Contact: N/A
Version: 20200106_00
Status: Approved (APPR)

Section I Notes: Students are expected to have completed ACAF70048 or equivalent before registering for this course. This is a blended course. The number and schedule of in-class sessions varies by course. Students will be provided a schedule for their in-class and online sessions prior to the start of the term. The online portion of the course is offered through Sheridan's Learning and Teaching Environment (SLATE). Online learning often involves assigned weekly readings, research, assignments, quizzes, journal writing and discussion boards. Some courses may include live online class sessions that allow students and the instructor to engage and share resources as a group. A laptop computer is required for this course. Students will need reliable access to the internet. A Texas Instruments BAII Plus (Business Analyst) or equivalent calculator is required for this course. Students will be required to use Excel. To be considered for the Advanced Certificate in Accounting and Finance (ACAF) National Examination eligibility, students must earn a minimum grade of 60% in the ACAF Applied Personal and Corporate Tax course and meet the additional standards of achievement as required by CPA Ontario's National Examination Policies.

Section II: Course Details

Detailed Description
Students develop tax planning strategies for individuals and corporations, develop a general understanding of remittance requirements for GST/HST, CPP, EI, WCB, and complete a Record of Employment. Students use Excel and ProFile tax software to develop the skills needed in the marketplace and to advance their workplace skills (communication, managing and analyzing information, solving routine problems). Through case studies (authentic scenarios), students demonstrate the application of applied and technical knowledge.

Program Context

Adv Cert Accounting & Finance Program Coordinator(s): N/A
This course is part of the ACAF cluster of course offerings.

Course Critical Performance and Learning Outcomes

  Critical Performance:
By the end of this course students will have demonstrated the ability to apply technical knowledge to determine tax liability and provide tax planning for individuals and corporations.
Learning Outcomes:

To achieve the critical performance, students will have demonstrated the ability to:

  1. Explain and identify ethical issues that are likely to arise when preparing income taxes and remittances.
  2. Describe the steps in computing income for tax purposes for various types of income using the source concept.
  3. Calculate net income for tax purposes for a business and explain why the adjustments to accounting net income are required.
  4. Determine taxable income and taxes payable for individuals and corporations utilizing Excel and tax preparation software.
  5. Explain the principles of integration underlying the taxation of aggregate investment income for corporations.
  6. Explain the basics of various tax relationships and the implications of having related, associated, connected, and affiliated companies.
  7. Evaluate the tax advantages and disadvantages of incorporating a business and justify the decision to incorporate or not.
  8. Describe organizational remittance requirements for GST/HST including registration, filing returns, input tax credits, charging the tax, and rebates.
  9. Calculate and report government and third-party remittances (CPP, EI, WCB, taxes), including the completion of a Record of Employment.

Evaluation Plan
Students demonstrate their learning in the following ways:

 Assignments (1 x 10% & 3 x 5%)25.0%
 Quizzes (5 x 2%)10.0%
 Cumulative Final Exam40.0%

Evaluation Notes and Academic Missed Work Procedure:
All graded evaluations (i.e., projects, assignments, tests, exams, etc.) must be completed according to the schedule of dates specified by the instructor. Students unable to attend an exam or test will be allowed to defer the exam or test if such a request is made in advance of the scheduled exam or test date and the reason for absence is acceptable to the instructor.

Evaluation Plan: ONLINE
 Term Test30.0%
 Final Exam40.0%

Provincial Context
The course meets the following Ministry of Colleges and Universities requirements:


Prior Learning Assessment and Recognition
PLAR Contact (if course is PLAR-eligible) - Office of the Registrar

  • Not Eligible for PLAR

Section III: Topical Outline
Some details of this outline may change as a result of circumstances such as weather cancellations, College and student activities, and class timetabling.
Print Instruction Mode Professor Applicable Student Group(s)
Online N/A Online CAPS Students
In-class & Online Instruction N/A CAPS Students

Sheridan Policies

All Sheridan policies can be viewed on the Sheridan policy website.

Academic Integrity: The principle of academic integrity requires that all work submitted for evaluation and course credit be the original, unassisted work of the student. Cheating or plagiarism including borrowing, copying, purchasing or collaborating on work, except for group projects arranged and approved by the professor, or otherwise submitting work that is not the student's own, violates this principle and will not be tolerated. Students who have any questions regarding whether or not specific circumstances involve a breach of academic integrity are advised to review the Academic Integrity Policy and procedure and/or discuss them with the professor.

Copyright: A majority of the course lectures and materials provided in class and posted in SLATE are protected by copyright. Use of these materials must comply with the Acceptable Use Policy, Use of Copyright Protected Work Policy and Student Code of Conduct. Students may use, copy and share these materials for learning and/or research purposes provided that the use complies with fair dealing or an exception in the Copyright Act. Permission from the rights holder would be necessary otherwise. Please note that it is prohibited to reproduce and/or post a work that is not your own on third-party commercial websites including but not limited to Course Hero or OneNote. It is also prohibited to reproduce and/or post a work that is not your own or your own work with the intent to assist others in cheating on third-party commercial websites including but not limited to Course Hero or OneNote.

Intellectual Property: Sheridan's Intellectual Property Policy generally applies such that students own their own work. Please be advised that students working with external research and/or industry collaborators may be asked to sign agreements that waive or modify their IP rights. Please refer to Sheridan's IP Policy and Procedure.

Respectful Behaviour: Sheridan is committed to provide a learning environment that supports academic achievement by respecting the dignity, self-esteem and fair treatment of every person engaged in the learning process. Behaviour which is inconsistent with this principle will not be tolerated. Details of Sheridan's policy on Harassment and Discrimination, Academic Integrity and other academic policies are available on the Sheridan policy website.

Accessible Learning: Accessible Learning coordinates academic accommodations for students with disabilities. For more information or to register, please see the Accessible Learning website (Statement added September 2016)

Course Outline Changes: The information contained in this Course Outline including but not limited to faculty and program information and course description is subject to change without notice. Any changes to course curriculum and/or assessment shall adhere to approved Sheridan protocol. Nothing in this Course Outline should be viewed as a representation, offer and/or warranty. Students are responsible for reading the Important Notice and Disclaimer which applies to Programs and Courses.

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