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There are no prerequisites for ACC 200.

Why Take Accounting 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!

Course Outcomes

  1. Construct and use internal accounting tools such as cost-volume-profit analysis, budgets, product cost reports, and nonroutine decision analyses to understand how to make better business management decisions.
  2. Construct and interpret a balance sheet and income statement, understanding its usefulness in business and investment decision making.
  3. Comfortably use accounting terms and concepts in business related discussions.
  4. Intelligently converse about the following areas:
    1. The role of accounting in international business
    2. The role of information systems in financial reporting
    3. Fraud and how to prevent fraud
    4. The theory and practice of income taxes
    5. Investing in stocks
    6. Career planning and spiritual decision making
    7. Managerial accounting as a competitive tool
    8. Personal budgeting and financial planning
  5. Write a brief, focused memo demonstrating basic understanding of background business reading material.
  6. Use computer-aided learning tools and online learning resources.
  7. Manage workload in a self-paced learning environment.

Keys to Success in Accounting 200

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.

  1. Personal Study Schedule. Because this course is being taken through Independent Study and homework is not turned in for credit, a higher level of self-discipline may be required in order to successfully complete this course. It is strongly recommended that you set up a personal study schedule that specifically earmarks time when you will regularly work on the material for this course.
  2. PDF Resources. At the top of software screen there is a link to “PDF Resources.” Here you can print out key screen shots from the course software. Many students find it helpful to have these screen prints in front of them while they watch the software discussions. This will allow you to take notes as you listen to the video. There is also a comprehensive practice set for Hot Cars, Inc. The purpose of this practice set is to bring together in one example all the steps of an accounting system designed to produce a company's periodic financial statements. Additional items under “PDF Resources” include exam topics and sample exams.
  3. Practice Quizzes. At the top of software screen there is a link to “Practice Quizzes.” These practice quizzes are organized to match the lessons in the course software. There are several questions for each lesson. You should try to completely solve the questions before you look at the solutions. This approach will help give you a good indicator on how well you have understood the material in the lesson.

Course Materials

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.

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Speedback Unit Quizzes/Assignments

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.

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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.

Exams Covers Questions
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.

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Assignment/Exam % of Total Grade
Exam 1 23
Exam 2 27
Final Exam (non-comprehensive) 34
Speedback Lesson Quizzes 15
Financial Statement Review Assignment 1
Total 100
Grading Scale
A 100–92
A− 91–89
B+ 88–86
B 85–81
B− 80–77
C+ 76–74
C 73–69
C− 68–64
D+ 63–60
D 59–55
D− 54–50
E (fail) 49–0

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.

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Frequently Asked Questions

What are the best ways to prepare for Speedback quizzes and exams?

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:

  1. Focus on the accounting software lesson material. Through the “Resources” tab of the accounting software, you can print off the lesson slides, and use them to take notes and highlight key concepts from the lesson materials. The slides are the best study materials as far as preparing for the exams.
  2. Be able to solve all of the workout problems from the accounting software lessons on your own. The workout problems on the exams are closely related to the workout problems given in the accounting software material (and given in the slides.)
  3. Also under the “Resources” tab, there are “Exam Topic” materials as well as “Sample Exams” that can be accessed in preparation for the exams. The practice exams will help you learn the type of content, as well as the format of the exams.
  4. For additional practice on key concepts and workout problems from the lessons, you can access the “Practice” tab at the top of the home page. This tab provides a number of questions related to each online lesson. These should help to solidify the concepts even further if you still feel that you need additional practice after going over the online slides and practice problems.

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.

How do I get feedback on how I can improve my exam score?

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.

Getting Help

Please use the help menu in this course to contact Independent Study or your instructor. BYU Independent Study students can find additional help on the Free Tutoring website.

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Copyright Notice

The materials used in connection with this online course are only for the use of students enrolled in this course for purposes associated with this course and may not be retained or further disseminated. Any copying or further dissemination of these materials may be subject to applicable U.S. Copyright Laws. For questions or more information, please visit the BYU Copyright Licensing Office website.

“Members of the BYU community who willfully disregard this Copyright Policy or the BYU Copyright Guidelines place themselves individually at risk of legal action and may incur personal liability for their conduct. The unauthorized use or distribution of copyrighted material, including unauthorized peer-to-peer file sharing, may subject individuals to civil and criminal liabilities, including actual and statutory damages, costs and fees of litigation, fines, and imprisonment

Violations of the Copyright Policy may result in university disciplinary action including termination of university enrollment or employment.” (Emphasis added. Excerpt taken from the BYU Copyright Policy)

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University Policy - Title IX Statement

Preventing & Responding to Sexual Misconduct

In accordance with Title IX of the Education Amendments of 1972, Brigham Young University prohibits unlawful sex discrimination against any participant in its education programs or activities. The university also prohibits sexual harassment—including sexual violence—committed by or against students, university employees, and visitors to campus. As outlined in university policy, sexual harassment, dating violence, domestic violence, sexual assault, and stalking are considered forms of "Sexual Misconduct" prohibited by the university.

University policy requires all university employees in a teaching, managerial, or supervisory role to report all incidents of Sexual Misconduct that come to their attention in any way, including but not limited to face-to-face conversations, a written class assignment or paper, class discussion, email, text, or social media post. Incidents of Sexual Misconduct should be reported to the Title IX Coordinator at t9coordinator@byu.edu or (801) 422-8692. Reports may also be submitted through EthicsPoint at https://titleix.byu.edu/report or 1-888-238-1062 (24-hours a day).

BYU offers confidential resources for those affected by Sexual Misconduct, including the university’s Victim Advocate, as well as a number of non-confidential resources and services that may be helpful. Additional information about Title IX, the university’s Sexual Misconduct Policy, reporting requirements, and resources can be found at http://titleix.byu.edu or by contacting the university’s Title IX Coordinator.

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Accessibility Notice

BYU is committed to providing a working and learning atmosphere which reasonably accommodates persons with disabilities who are otherwise qualified to participate in BYU's programs and activities. In this spirit, BYU Independent Study aspires to improve web accessibility for users. While not required by law, the Web Content Accessibility Guidelines (WCAG) 2.0 Levels A and AA provide a wide range of helpful recommendations to make Web content more accessible. BYU Independent Study strives to apply WCAG 2.0 recommendations where feasible, but may deviate from any recommendations that would result in an undue hardship to BYU Independent Study or alterations to program and course content and objectives. If you have questions about accessibility, or if you need to report problems with any accessibility features please see our Accessibilities and Accommodations Web Page.

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