• Ray Gregg
• GC 3F10
College of Business
• 918-495-6561
• rgregg@oru.edu
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
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• Monday 9:50
• Tuesday 10:50 and 3:50
• Wednesday 1:30 and 3:50
•
• Thursday
Friday
10:50
1:30
• and by appointment
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
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• Premise of university education: more learning should take place out of class than in class
• We spend about 1.5% of our time together
• Total class time = approx 1 week on the job!
• Learn to learn!
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
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• Required:
– 2014 edition
– Scantron Sheets
(two)
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
5

• Publication 17:
Your Federal
Income Tax
• Download and keep on computer
• Request at www.irs.gov
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
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• attendance required
•
bonus points for perfect attendance
• allowed FOUR total absences without penalty
• see syllabus for penalty for
excessive absences
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
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School of Business
Cell Phone Policy
Regular Classes
Cell phone usage of any type is prohibited in the classroom during class hours. All cell phones shall be stored out of sight and silenced/turned off. If a student fails to comply with this requirement, the professor may (at the professor’s discretion) dismiss the student from class and mark the student for an unexcused absence. Students may (prior to the beginning of class) request an exception to this policy if some type of extenuating circumstance exists that would reasonably justify the granting of an exception and a possible disruption of the class for taking an incoming call, text messaging, etc.
Exam Classes
Unless specifically pre-authorized by the professor, portable or handheld computer/calculator, cell phone, and all other media/multi-media device usage of any type is prohibited in the classroom during class examinations. All such devices shall be stored out of sight and silenced/turned off. If a student fails to comply with this requirement, the professor may (at the professor’s discretion) dismiss the student from class, mark the student for an unexcused absence, and/or penalize the student by deducting points on the exam. With regard to cell phone usage, students may (prior to the beginning of class) request an exception to this policy if some type of extenuating circumstance exists that would reasonably justify the granting of an exception and a possible disruption of the class for taking an incoming call, text messaging, etc. In this instance the cell phone should be left with the professor during the class, and if an incoming call is received the student will
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
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Encouraged
• Take notes
• Make calculations
• Solve problems
• Learn
Discouraged
• Working on other classes
• Playing games
• Surfing the net
• IMing friends
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
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• Comprehensive
• Given according to published, standardized schedule
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
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© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
11

(from syllabus)
• 400 total points possible
• will drop lowest 100 points*
• everyone benefits!*
• *exception for homework minimum
• no make-up exams (exceptions)
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
12

One exam = 100
Comprehensive Final = 200
HW and Return Probs = 100
Total Points Possible = 400
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
13

One exam = 100
Comprehensive Final = 200
Homework 63
Return Problems 42 = 100
Total Points Possible = 400
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
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• must achieve 60 points (105 possible) for HW AND Return
Problems
• if not met, nothing dropped; average based on 500 points; hurts twice!
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
15

• Multiple choice
• First = some “open book”
• Second = more than first
• Final = ALL open book
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
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• use pencil, ink, or computer
• use plain paper
– 8 ½ x 11
– no spirals
– start each day’s assignment on new sheet
• possible marks on homework
– 2 > 2/3 correct
– 1
– 0
> 1/3 but <= 2/3 correct
<= 1/3 correct
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
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•
•
•
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
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© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
19

• Tax forms (download and print)
• Case (from class web page; not in textbook)
• 1040EZ, 1040A, 1040
• Progressively harder
• Progressively greater point value
(see syllabus page 5)
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
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• should be highest -- not lowest grade
• will help you
– understand material in class,
– perform exams, and
– retain more
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
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• Attend meetings; sign in
• Follow rules
• For off campus, submit forms (or copy of
Business Seminar form) to Mr. Unruh’s door by Friday of week of event
• Allocate up to 10 pts to this course
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
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• Expected to have an ORU address
• Expected to check it on a regular basis
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
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• expected info about class
– syllabus, office hours, etc.
• other information
– Tax forms
– Cases for Return Problems
– Links to other tax (and accounting) sites
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
24

© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
25

Links
Tax Class
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
26

© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
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• Be sure to understand what assignments are to be turned in when
• Plan on one assignment per class session except test days
• Don’t fall behind!
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
28

© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
29

© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
30

If I would do anything different I would probably highlight topics and organize stuff in my book as we went along in class and with homework instead of waiting until close to the test to get everything organized. I think it would be easier to study for the test if you organize while you are going over the topic instead of waiting and then going back and trying to remember what was so important about that particular topic.
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
-- Dara S.
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1.
Do all the homework you can.
2.
Don't miss class for anything.
3.
Study like the test is closed book.
4.
Place handouts in the section of the book they apply to, this helps when trying to find the details for a problem on the test.
5.
Don't expect to learn everything about
Tax in one semester.
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
-- Chris M.
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I would definitely say that reading the majority of the chapters helped a lot.
Reading a little beyond what is asked for in the homework questions.
What also helped me a lot on the first test was memorizing some of the figures rather then just referencing them. For example, the increased std. deduction for the elderly and blind.
-- Real Person (anonymous)
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
33

1.
Most importantly, study for the test like it is closed book. That helped me so much.
2.
Secondly, there is so much information that it is important to know what to study and how important everything is that we do in class and in homework! aka
NEVER SKIP!!!
-- Sara A.
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
34

1.
Work all the homework in advance, studying the relevant text and scouring the chapter to give the best answers. The homework is the test and the test review.
2.
For the test, don't study things that were not covered in class. (study the things of interest later after the test).
3.
Make use of the oruaccounting.com web site. Use the class slides as review.
4.
Attend class and pay attention.
5.
If you do poorly on the first test, do not give up.
6.
…, ask questions -- in class and after.
7.
Interact in class and engage Mr. Gregg's questions.
8.
…
9.
Offer to do yard work for extra credit. I just threw that out there, call it brainstorming.
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
-- Albert B.
35

© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
36

© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
37

• Individuals
• Corporations
• Estates
• Trusts
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
38

© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
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• Sales
• Excise
• Income
– Federal
– State
– Local
• Estate
• Gift
• Social security
• Unemployment
• Personal property
• Real property
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
40

• Sales
• Excise
• Income
– State
– Local
• Estate
• Gift
• Social security
• Personal property
• Real property
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
41

© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
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• Federal
• State
• County
• City
• Others?
© Copyright 2000 - 2012 by M. Ray Gregg.
All rights reserved.
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