Maricopa Community Colleges  EQS130   19974-20045 
Official Course Description: MCCCD Approval: 12/10/96
EQS130 19974-20045 LEC 3 Credit(s) 3 Period(s)
Equine Business Practices
Types of records used in the equine business. Includes record keeping systems and basic accounting principles; taxes; personnel management practices; computer programs for record keeping and operations management. Prerequisites: None.
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MCCCD Official Course Competencies:
 
EQS130   19974-20045 Equine Business Practices
1. Explain the differences between a horse business and a hobby operation. (I)
2. Identify the nine factors used by the IRS to show profit intent. (I)
3. Identify and describe the methods of conducting business. (II)
4. Identify and describe the major components needed to develop an effective business plan. (III)
5. Draft a viable business plan for an equine business. (III)
6. Identify and explain the parameters and legal ramifications in the buying and selling of horses at private treaty and public auctions. (IV)
7. Identify IRS tax requirements related to sales and exchanges, employees and independent contractors and the depreciation scale. (V)
8. Identify and describe major insurance and liability issues in the equine industry. (VI)
9. Identify and describe the specific components necessary to develop each type of special need contract and outline the legalities associated with each. (VII)
10. Develop a marketing plan for a specific market in the equine industry. (VIII)
11. Identify and describe the various components of an effective record keeping system for an equine business. (IX)
12. Review, evaluate, and modify where necessary, an equine business plan. (I-X)
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MCCCD Official Course Outline:
 
EQS130   19974-20045 Equine Business Practices
    I. Equine Business vs. Hobby
        A. The Legal Environment
        B. Qualifying as a Business/IRS/The Nine Factor Text
        C. Two Profit Years Out of Seven
      II. Legal Environment: Methods of Doing Business
          A. Sole Proprietorship
          B. Partnership
          C. Limited Partnership
          D. Limited Liability Company
          E. Syndication
          F. Corporation
          G. Sub S Corporation
        III. Developing a Business Plan
            A. Components
            B. Record Keeping
            C. Drafting the Plan
          IV. Purchase and Sale of Horses
              A. Parameters
                1. Private Treaty 2 Public Auctions
              B. Legal Factors
                1. Private Treaty 2 Public Auctions
            V. Tax-Related Issues
                A. Sales and Exchanges
                B. Employees
                C. Independent Contractors
                D. Depreciation
              VI. Insurance/Liability Issues
                VII. Legal Environment: Special Need Contracts
                    A. Purchase and Sale
                    B. Leases
                    C. Breeding
                    D. Training
                    E. Stallion
                  VIII. Marketing
                      A. Identifying the Market
                      B. Developing Marketing Strategies
                      C. Creating an Image
                      D. Drafting a Plan
                    IX. Record Keeping Systems
                        A. Types of Forms and Reports
                        B. Daily/Permanent Records
                        C. Computer Record Keeping
                      X. Evaluation of Business Plans
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