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The University of Mississippi Online

ACCY 201 Introduction to Accounting Principles I

 

University of Mississippi Department of Accounting
3 credit hours 

Instructor Information:

Dave Nichols

Instructor name:

Dr. Dave Nichols

Instructor Information:

Dr. Nichols is an Associate Professor in the E. H. Patterson School of Accountancy at The University of Mississippi. He earned his Ph.D. in Accounting at Oklahoma State University.

His research interests include, in addition to Title VII employment issues, accounting certification issues and the usefulness of geographic segment reporting.

Contact Information:

If you have questions about the content of the course, you may contact the instructor directly using the e-mail link in the Communications & Tools tab. NOTE: When sending e-mail, please be sure to indicate the course title and number in the subject line (for example, Accounting 201). For all other types of questions, contact the i Study office at 662-915-7313 or e-mail istudy@olemiss.edu.

Course Description

This 11-lesson Independent Study course is on the topic of Accountancy. Accountancy 201, the first half of Introduction to Accounting Principles, gives you the basic foundation for preparing, understanding, and using financial information. The course is designed to prepare you for more advanced study in the field of accounting as well as in related fields of business and economics. The course is also designed for students of the arts and sciences who desire a basic knowledge of financial record keeping, financial reports, and the basic elements of business.

Since the course begins at the elementary level, no prior knowledge of business or bookkeeping is required. The functions of recording, accumulating, and summarizing accounting data for a proprietorship are emphasized early in the course. Specialized topics including internal control, interest, depreciation, and payroll are covered. Emphasis throughout the course is placed on the principles governing the practice of accounting.

Textbook Information:

ACCY 101 TEXTBOOK

Financial and Managerial Accounting ñ Information for Decisions by Wild, Shaw, and Chiappetta ñ 6th edition

You can purchase it 3 ways:

  • Financial and Managerial Accounting with Connect ñ ISBN: 9781259621758

-or-

  • Loose-Leaf for Financial and Managerial Accounting with Connect ñ ISBN: 9781259622885

-or-

  • Connect 2 Semester Access Card for Financial and Managerial Accounting ñ ISBN: 9780077633059

You will need the Connect homework system associated with the textbook--you can follow the links within Blackboard to register the code. NOTE: This is the same book used for ACCY 202.

It is your responsibility to order your textbook. Online textbook retailers such as Amazon.com, ABEbooks.com, or Half.com usually provide used textbooks at economical prices.

Use the ISBN number to make sure you are ordering the exact book required in this syllabus.

Course Objectives:

The objective of the course is to provide you with a basic understanding of financial accounting. Upon successful completion of the course, you should be able to account for and to report many different types of transactions affecting many different types of accounts. In addition, this course will provide a review of the major business activities of a company. These business activities include: the sale of goods and services, the collection of cash and accounting for receivables, the purchase and the valuing of inventory, the purchase, disposal, and accounting for long-term assets, the issuing and repayment of debt, and the accounting for stock transactions.

Course Outline:

LESSON
Reading Assignments
Due for Grades
Start Here

You MUST take the syllabus quiz within 2 weeks of enrolling or you will be dropped from the course. NOTE: you must pass the Syllabus and Orientation Quiz for the course materials to appear on the Lessons page.

Syllabus Quiz
0
Introduction
Discussion board
1

Chapter 1: Accounting in Business

SmartBook chapter, interactive presentations, homework, timed quiz
2

Chapter 2: Accounting for Business Transactions

SmartBook chapter, interactive presentations, homework, timed quiz
3

Chapter 3: Adjusting Accounts for Financial Statements

SmartBook chapter, interactive presentations, homework, timed quiz
4

Chapter 4: Accounting for Merchandising Operations

SmartBook chapter, interactive presentations, homework, timed quiz
Course Exam 1
Covers chapters 1-4
To be scheduled
and completed
before proceeding
5
Chapter 5: Inventories and Cost of Sales
SmartBook chapter, interactive presentations, homework, timed quiz
6

Chapter 6: Cash and Internal Control

SmartBook chapter, interactive presentations, homework, timed quiz
7

Chapter 7: Accounting for Receivables

SmartBook chapter, interactive presentations, homework, timed quiz
8
Chapter 8: Accounting for Long-Term Assets
SmartBook chapter, interactive presentations, homework, timed quiz
9

Chapter 9: Accounting for Current Liabilities

SmartBook chapter, interactive presentations, homework, timed quiz
Course Exam 2
Covers chapters 5-9
To be scheduled
and completed
before proceeding
10
Chapter 10: Accounting for Long-Term Liabilities
SmartBook chapter, interactive presentations, homework, timed quiz
11

Chapter 11: Corporate Reporting and Analysis

SmartBook chapter, interactive presentations, homework, timed quiz
Final Exam
Comprehensive exam from all chapters
To be scheduled
and completed
before proceeding

Grading:

GRADING SCALE

90 - 100% = A
80 - 89% = B
70 - 79% = C
60 - 69% = D
Below 59% = F

GRADING INFORMATION:

The grading format is as follows:

Smartbook assignments = 3%
Interactive presentation assignments = 3%
Homework questions = 9%
Quizzes = 5%
Course Exams 1 and 2 = 50%
Final Exam 30%

The two mid-term exams will be equally weighted at 25% each and will make up 50% of your grade. The final exam will be 30% of your grade. Lesson assignments, homework and quizzes will make up the remaining 20% of your grade.

FAILURE TO PASS THE FINAL EXAM WILL RESULT IN FAILURE OF THE COURSE.

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