There are no prerequisites for ACC 200.
Accounting 200 is a great introduction to the world of business. In fact, accounting is sometimes referred to as the language of business. That’s because the very purpose of accounting is to provide meaningful financial information to individuals and institutions that have an interest in business, whether they be investors, creditors, or managers. Most Americans today invest in business through the stock market. Intelligent investors seek out financial information on companies to make more informed investment decisions. It is a company’s accounting system that creates and provides the information used by investors. Business managers likewise need information produced through accounting in making the day-to-day operational decisions that improve a company’s performance and profitability. If you hope to become a successful investor or manager, you will need to understand accounting information to improve your decision making. In some respects, this course will actually be a “principles of business” course in that it is necessary to understand what a business is and how it operates in order to account for its activities and generate useful financial information. Our study of accounting will provide insight into many basic business issues and questions including the following:
This course will be an important course for anyone who is interested in someday participating in or investing in a business. Welcome to the world of business!
Accounting 200 is not a course that requires proficiency in higher math. Although accounting and business finance are numbers oriented, the math involved is basic. What is important in a study of accounting and business is the ability to organize and analyze information. Business language and terms are carefully defined and business communication requires the precise and proper use of those terms. An ability to read and communicate with clarity is critical to success in this course.
A few specific hints for this course are listed next.
All of the material that you will be held accountable for on quizzes and exams for this course is contained in the software Introduction to Accounting: The Language of Business, which is published by Business Learning Software. The software contains many lesson presentations which contain a comprehensive audio/video lecture with synchronized graphic displays, sample problems, homework problems, and solution explanations. The homework problems included in the lessons are not turned in or graded in this course. They are provided solely for the purpose of assisting in the learning process.
The software lessons are designed to teach you the fundamental concepts of accounting. In addition to the lessons, you will be required to view some supplemental lectures, which are also contained in the software. These supplemental lectures feature several guest lecturers who speak on topics that are designed to enhance student appreciation of the relevance of accounting in today’s dynamic business world (see course units). Before viewing these lectures, students will read a number of current event articles provided in the course units. Each article can be accessed through the Library Services Portal for ACC 200.
A Speedback quiz will be given at the end of each unit. All quizzes will be taken online and will be in true/false and multiple choice formats. The quizzes are open note and open software, meaning students may use any of the learning materials available to them when taking the quiz. These quizzes cannot be retaken. The quizzes cover designated material from the Introduction to Accounting: The Language of Business accounting software lessons, the Accounting 200 Lecture Series and other readings provided in the course units. The quizzes do not comprehensively cover all of the materials in the Introduction to Accounting: The Language of Business accounting software lessons and therefore cannot be relied upon for complete exam coverage. A nonprogrammable calculator may be used on quizzes.
In addition to the 15 Speedback lesson quizzes, there is a short financial statement review assignment you will do in conjunction with lesson 2.
Summary: Three non-comprehensive exams will be given throughout the course as noted below. These exams are proctored and may be retaken once for a fee.
|Exam 1||Units 1–4 and Practice Set concepts||33 multiple choice|
|Exam 2||Units 5–10||40 multiple choice|
|Final Exam:||Units 11–15||10 True/False and 43 multiple choice|
These exams are closed book, closed note, and closed software. They are proctored exams, and only a calculator and blank scratch paper can be used during the exam. Bringing Accounting 200-related material into the Testing Center stored in your calculator constitutes cheating. Taking information related to this exam out of the Testing Center stored in your calculator also constitutes cheating. A maximum of four hours are allowed for the completion of each exam. All exams must be passed with a minimum 50% score to pass the course. Each exam may be retaken once for a fee.
In order to perform well on exams, a student must not only have a solid understanding of the course material but also be able to apply that understanding to actual problems. The best evidence of students’ adequate preparation for the exams is their ability to do the accounting software lesson homework problems on their own without assistance. Students must understand how to do the problems and the reasoning behind the solutions. If students are having difficulty understanding the homework problems, they should consider reviewing the accounting software lesson problems and solution explanations a number of times. They may also need to re-review the actual lecture materials. A basic overall review of the course materials may also be helpful exam preparation and can be facilitated by simply reviewing the accounting software Lesson Notes. Included in the PDF resources link in the accounting software are three sample exams with solutions provided at the end of each exam. These sample exams provide students with an opportunity to experience typical exam questions in a multiple choice format. These sample exams are not intended to provide complete coverage of topics, but they can be a valuable tool in exam preparation. If a student takes the sample exam and does poorly, it probably means there is need for additional study of the lesson examples and homework problems. Also available through the Accounting 200 Learning Resources are Exam Topic Sheets, which simply highlight the topics to be covered in each exam.
|Assignment/Exam||% of Total Grade|
|Final Exam (non-comprehensive)||34|
|Speedback Lesson Quizzes||15|
|Financial Statement Review Assignment||1|
There are no make ups or grade improvement projects, and there is no additional curving in this course. These are the final grade breakdowns—period.
Do not forget that that Speedback quizzes are open note and open software. Therefore, utilizing them during your quizzes, after you have sufficiently covered the lesson material, should be able to help you to get the highest scores on the Speedback quizzes. Please note that these quizzes cover all of the lesson assignments, including supplemental lectures and other reading assignments.
When studying and preparing for exams, efficient studying techniques include the following:
Those four things (in-depth review of the lesson slides, the comprehension of how to do all of the workout problems given in the lesson materials, review of the practice exams, and the practice problems) are by far the most efficient ways to prepare for the exams.
Students will not have access to see which particular question(s) were answered incorrectly on the exam. However, after finishing a course exam, students will have access to a chart that gives details as to which units the question(s) that they missed was/were associated with. The green portion of the bar graph indicates the amount of points associated with a unit that was marked correctly on the exam. The red portion indicates the portion of incorrect answers on the exam associated with a particular unit. This chart can be accessed through the course content under the “Details” portion of the exam submission information. Through this bar graph, students can better understand the types of questions that they missed on the exam and can further reinforce the concepts before taking the final exam.
Please use the help menu in this course to contact Independent Study or your instructor. BYU Independent Study students can find additional help in the drop-in vitrual lab.
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