Module ASB-3212:
Taxation

Module Facts

Run by Bangor Business School

20 Credits or 10 ECTS Credits

Semester 1 & 2

Organiser: Dr Helen Rogers

Overall aims and purpose

NOTE: If you register for this module, you cannot also register for ASB-3112 Advertising Strategy or ASB-3114 E-Marketing.

AIMS: To provide an overview of the place of taxation in a market economy. Issues such as the incentive to work and save, equity and economic efficiency are covered, in the context of personal, corporate and capital taxes. Policy implications of taxation are reviewed. In addition, the computation of personal income, corporate, capital gains and value added tax is covered.

Course content

The content may include but not be limited to: the place of taxation in the economy; the balance between equity and efficiency; income tax and incentives to work and save; the role of capital taxation; the bases of taxation and investment incentives; reform of the tax system; and tax as a policy tool. It will also include the calculation of personal, corporate, capital gains, inheritance and value added tax liabilities;

Assessment Criteria

threshold

40-49% A basic understanding of taxation, and its calculation, will be shown, but with little development of the lecture material, and errors will be present.

good

60-69% A good understanding will be shown, together with evidence of wider reading and few errors will be made.

excellent

70%+ A sound understanding will be demonstrated, with very few errors, and significant evidence of insights from wider reading in the topic.

C- to C+

50-59%Conceptual and computational issues are covered beyond the basic level. There are few errors but analysis may lack comprehensiveness.

Learning outcomes

  1. Understand the rationale for the various tax systems used in modern economies.

  2. Understand the role of taxation in achieving desired policy outcomes.

  3. Calculate personal income, corporate, capital gains, inheritance and value added tax liabilities.

  4. Be aware of and be able to calculate tax reliefs available to individuals and corporate bodies.

Assessment Methods

Type Name Description Weight
Exam S1 2hrs 45
Exam S2 2hrs 55

Teaching and Learning Strategy

Hours
Private study

including reading, preparing for lectures and computation practice.

153
Lecture

one 2-hour lecture per week.

44
Workshop

discussing in more detail some of the points from the lectures.

3

Transferable skills

  • Literacy - Proficiency in reading and writing through a variety of media
  • Numeracy - Proficiency in using numbers at appropriate levels of accuracy
  • Self-Management - Able to work unsupervised in an efficient, punctual and structured manner. To examine the outcomes of tasks and events, and judge levels of quality and importance
  • Exploring - Able to investigate, research and consider alternatives
  • Critical analysis & Problem Solving - Able to deconstruct and analyse problems or complex situations. To find solutions to problems through analyses and exploration of all possibilities using appropriate methods, rescources and creativity.
  • Argument - Able to put forward, debate and justify an opinion or a course of action, with an individual or in a wider group setting

Subject specific skills

  • knowledge of some of the contexts in which accounting can be seen as operating (examples of contexts include the legal, ethical, social and natural environment; the accountancy profession; the business entity; the capital markets; the public sector)
  • knowledge of the main current technical language and practices of accounting (for example, recognition, measurement and disclosure in financial statements; managerial accounting; auditing; taxation) in a specified socio-economic domain
  • knowledge of some of the alternative technical languages and practices of accounting (for example, alternative recognition rules and valuation bases, accounting rules followed in other socio-economic domains, alternative managerial accounting approaches to control and decision-making)
  • skills in recording and summarising transactions and other economic events; preparation of financial statements; analysis of the operations of business (for example, decision analysis, performance measurement and management control); financial analysis and projections (for example, analysis of financial ratios, discounted cash flow analysis, budgeting, financial risks)
  • Problem solving and critical analysis: analysing facts and circumstances to determine the cause of a problem and identifying and selecting appropriate solutions.
  • Numeracy: the use of quantitative skills to manipulate data, evaluate, estimate and model business problems, functions and phenomena.
  • Self-management: a readiness to accept responsibility and flexibility, to be resilient, self-starting and appropriately assertive, to plan, organise and manage time.

Resources

Resource implications for students

None

Talis Reading list

http://readinglists.bangor.ac.uk/modules/asb-3212.html

Reading list

Taxation: Policy and Practice 2019/20 by Andy Lymer and Lynne Oats

Pre- and Co-requisite Modules

Pre-requisites:

Courses including this module

Compulsory in courses: