ACCY 201 IS v3: Introduction to Accounting Principles 1
3 credit hours
Instructor name: Dr. Dave Nichols
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.
If you have questions concerning the content of the course, you may contact the instructor directly using the Email Your Instructor link in the Lessons or Content page. NOTE: Whenever sending email, please be sure to indicate your course title and number in the subject line. You can expect a response within 72 hours, although it may be longer on weekends. Many instructors reply within 24 hours.
For lesson or test administration issues, please contact the iStudy department:
The University of Mississippi
Division of Outreach and Continuing Education
P. O. Box 1848
University, MS 38677
This 12-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.
You can purchase it by following any Cengage link within Blackboard (on the Lessons page, in any lesson, or in Additional Resources):
You will need the CengageNOW homework system associated with the textbook--you can follow the links within Blackboard to register the code. Lesson 0 has helpful registration information and a link. 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.
Semester Midpoint Requirements:
Requirements for semester students: (Note: this does not apply to full-year students. If you are unsure of your status, the information appears in your gradebook.)
Complete the syllabus quiz as soon as you have access to your Blackboard course. This is mandatory to verify your attendance.
Reach the midpoint of your course, as indicated on the lesson page, two weeks after the first day of midterm week. The exact date is posted in the Announcements section of the course in Blackboard. Any lesson assignment or exam needed to reach the midpoint, but not completed by the midpoint deadline, will receive a grade of zero.
The last day to submit lessons is the last day of class per the UM Registrarís academic calendar.
The final exam must be taken by the last day of finals week.
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
the accounting for stock transactions
Due for Grades
to complete the course in one semester
*You MUST complete the syllabus quiz as soon as you have access to your Blackboard course. This is mandatory to verify your attendance.* NOTE: you must pass the Syllabus and Orientation Quiz for the course materials to appear on the Lessons page.
discussion board, course journal entry
Chapter 1: Introduction to Accounting and Business including the adaptive study plan
chapter 1 homework, chapter 1 quiz
Chapter 2: Analyzing Transactions including the adaptive study plan
chapter 2 homework and chapter 2 quiz
Chapter 3: The Adjusting Process including the adaptive study plan
chapter 3 homework and chapter 3 quiz
Chapter 4: Completing the Accounting Cycle including the adaptive study plan
chapter 4 homework and chapter 4 quiz, course journal entry
Course Exam 1
Covers chapters 1-4: you have 2 hours to complete it
To be scheduled
Chapter 5: Accounting for Merchandising Businesses including the adaptive study plan
chapter 5 homework and chapter 5 quiz
MIDPOINT OF COURSE
If you are a semester student, you must complete all lesson assignments or exams needed to reach the midpoint by two weeks after the first day of midterm week.
If you are a full-year UM student, you CANNOT WITHDRAW from this course after the next lesson has been submitted.
All lesson assignments or exams needed to reach the midpoint of the course
Two weeks after the first day of midterm week. The exact day is posted in the Announcements section of the course in Blackboard.
Chapter 6: Inventories including the adaptive study plan
chapter 6 homework and chapter 6 quiz
Chapter 7: Internal and Cash including the adaptive study plan
chapter 7 homework and chapter 7 quiz
Chapter 8: Receivables including the adaptive study plan
chapter 8 homework and chapter 8 quiz, course journal entry
Course Exam 2
Covers chapters 5-8: you have 2 hours to complete it
To be scheduled
Chapter 9: Long-Term Assets: Fixed and Intangible including the adaptive study plan
chapter 9 homework and chapter 9 quiz
Chapter 10: Liabilities: Current, Installment Notes, Contingencies including the adaptive study plan
chapter 10 homework and chapter 10 quiz
Chapter 11: Liabilities: Bonds Payable including the adaptive study plan
chapter 11 homework and chapter 11 quiz
Chapter 12: Corporations: Organization, Stock Transaction, and Dividends including the adaptive study plan
chapter 12 homework and chapter 12 quiz, course journal entry
Covers chapters 9-12 and includes comprehensive questions from all chapters (ensure all work is completed and graded prior to scheduling this exam): you have 3 hours to complete it
To be scheduled
The grading format is as follows:
90 - 100% = A
80 - 89% = B
70 - 79% = C
60 - 69% = D
Below 59% = F
The exams will be equally weighted at 27.5% each and will make up 82.5% of your grade. The lesson homework, quizzes, and course journal will make up the remaining 17.5% of your grade.
A student who wishes to receive credit for an Independent Study course must take all required exams under the supervision of an approved test site official (a proctor). iStudy has a testing facility (DETL, the Distance Education Testing Center at UM) to proctor tests for students in the Oxford area. Students near Tupelo, Southaven, Grenada or Booneville can use our regional campus testing centers. Other students are allowed to take tests from any approved 2 or 4 year college or university. Testing centers and public libraries can also serve as proctors, but K-12 schools are not acceptable. More information is available on the iStudy website. If you are testing in Oxford, you need to submit a test application via Register Blast. The link to Register Blast can be found at the iStudy website. If you are not testing in Oxford, you need to submit an online test application via the iStudy website.
It is your responsibility to contact a proctor and schedule a testing appointment for each and every test you are required to take.
It is your responsibility to provide iStudy with your proctor information at least seven (7) days before the examination window opens.
If you are unable to use one of the proctors on the list, you are still responsible for locating a proctor for each and every test.
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