ACC 201 Syllabus

Financial Accounting
Semester/Term: Fall 2024
Credit Hours: 3
Sections/Days/Time/Location: 001 MW 11:00 am – 12:15 pm Business & Economics Building
Kincaid Auditorium (B&E 111)

Instructor Information
Instructor: Angie Martin, CPA
Office: Gatton B&E 423J and Main Building Suite 009
Email: [email protected]
Office Hours: In-person and virtual by appointment; schedule using email

Course Description
This course introduces financial accounting and reporting. Topics include analyzing and recording transactions and
adjustments; preparing and interpreting financial statements; and understanding the effects of transactions,
adjustments, and accounting methods on the elements of financial statements and disclosures.

Course Prerequisites
AN105 or CS101, and ACC 200; or consent of the School of Accountancy Director

Required Materials
1. An inquisitive mind and a strong work ethic
2. Calculator (see calculator policy below)
3. WileyPLUS/Canvas Access – Syllabus, schedules, lecture materials, and announcements will be posted
through Canvas. All assignments will be completed via WileyPLUS, which will be accessed via Canvas.
4. Financial Accounting, Tools for Business Decision Making, 10th Edition, Paul D. Kimmel, Jerry J. Weygandt, and
Jill E. Mitchell, John Wiley & Sons, Inc., 2022

To enhance your learning experience and provide affordable access to the right course material, this course is
part of an inclusive access model called FirstDay™. Students are automatically enrolled in the First Day program
upon registering for the course. This gives students easy access to the required course materials via Canvas,
including access to the eTextbook and to WileyPLUS (the online platform for accessing assignments and study
materials). Students should not opt out of the First Day program.

Technology Information and Requirements

Technical Support
WileyPLUS support can be accessed within Canvas.

For UK account help, contact UK’s Information Technology Customer Services online or by phone at 859-218-
HELP (4357).

Canvas Login: https://www.uky.edu/canvas/

Technology Requirements
Minimum technical requirements for UK courses and suggested hardware, software, and internet connections are
available at Student Hardware & Software Guidelines.

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Student Learning Outcomes
By the end of the semester the student should be able to:
• identify the three primary forms of business organization, specifying the characteristics, advantages, and
disadvantages of each form;
• identify the users of financial information and their needs for the financial information;
• explain the importance of ethics in accounting, including the purpose of the Sarbanes-Oxley Act;
• explain and apply the basic accounting equation;
• define and classify asset, liability, stockholders’ equity, revenue, gain, expense, and loss accounts;
• prepare multiple-step Income Statements (for both service and merchandising operations), the Statement of
Retained Earnings, the classified Balance Sheet, and the Statement of Cash Flows (using the indirect method).
The focus will be on the corporate form of ownership;
• describe comprehensive income and its financial statement presentation;
• calculate and explain the purpose of a company’s liquidity and solvency ratios;
• define generally accepted accounting principles (GAAP);
• identify and explain the purposes of the primary financial accounting standard setting organizations;
• identify and define the primary components of the Conceptual Framework;
• describe the expense and revenue principles;
• apply the components of the accounting cycle from the analysis of a business transaction through the
closing of the books at the end of the period;
• distinguish between the cash and accrual bases of accounting;
• differentiate between accounting for a perpetual inventory system and a periodic inventory system and
journalize the transactions under each system;
• calculate and explain the purpose of a company’s profitability ratios;
• calculate inventory costs, cost of goods sold, and gross profit using the specific identification; first-in, first-out;
last-in, first-out; and average methods under perpetual and periodic inventory systems;
• identify the primary advantages and disadvantages of the inventory costing methods;
• explain the lower-of-cost-or-market concept for inventories;
• calculate and explain the purpose of the inventory turnover ratio and the days-in-inventory ratio;
• identify and define the principles of internal control and its limitations;
• prepare a bank reconciliation and prepare the resulting journal entries;
• classify and account for marketable securities;
• account for accounts receivable using the allowance method;
• account for notes receivable;
• calculate and explain the purpose of the receivables turnover ratio and the average collection period ratio;
• calculate the cost of property, plant, and equipment;
• calculate depreciation expense, accumulated depreciation, and book value using the straight-line; declining-
balance, and units-of-activity methods;
• account for the disposal of property, plant, and equipment;
• calculate and explain the purpose of the return on assets ratio;
• identify and account for intangible assets and research and development costs;
• account for current liabilities;
• account for long-term liabilities, primarily focusing on long-term bonds;
• identify and account for stockholders’ equity transactions; and
• prepare and analyze a Statement of Cash Flows using the indirect method.

Tentative Course Schedule

• See “Tentative Course Schedule” posted on Canvas for a listing of lecture topics, assignments, and exam dates.
I expect you to be fully prepared and ready to discuss these topics.
• Lectures will focus only on certain topics from selected chapters. You will be tested on the selected chapters
as indicated in the Tentative Course Schedule.
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• This is a tentative schedule and subject to change. Amendments to the course schedule will be discussed and
clearly announced in class. You are responsible for these announcements regardless of your attendance.

Course Activities, Exams, and Assignments

Grading Summary
Adaptive Quizzes 10% (11 adaptive quizzes, drop two lowest scores)
Homework 15% (10 homework assignments, drop the lowest score)
Exam 1 25%
Exam 2 25%
Exam 3 25%
Optional Final Exam
Total 100%

Adaptive Quizzes
• For each assigned chapter, you will complete an online Adaptive Quiz assignment through WileyPLUS (via
Canvas) prior to attending the lecture for that chapter. Adaptive Quiz assignments are meant to prepare you for
lecture and to reinforce what you read in the textbook.
• I expect you to read the assigned chapter before attending the applicable lecture. Therefore, Adaptive Quizzes
will typically be due the night prior to when we begin covering a given chapter. For example, if we are scheduled
to begin a chapter on Monday, the Adaptive Quiz for that chapter will be due the night before (Sunday night) by
11:59 pm.
• As you answer questions you will receive a proficiency score. Answering questions correctly increases your
proficiency score, while answering incorrectly decreases your score. The number of questions you need to
answer will vary by chapter and will vary based on your performance. You may complete additional questions
to increase your proficiency score to 100%.
• Adaptive Quizzes will be graded based on thresholds as follows:

Proficiency Score Grade

100 100%
90 90%
80 80%
< 80 0%

• You must achieve a proficiency score of 100 to receive full credit (100%).
• Proficiency scores less than 80 will receive no credit.
• There will be 11 Adaptive Quizzes throughout the semester. There are no make-up opportunities for missed
Adaptive Quizzes as these assignments will be available for several days with due dates communicated in
advance.
• Your two lowest scores on Adaptive Quizzes will be dropped when calculating your semester grade.

Homework Assignments
• 10 graded homework sets will be assigned throughout the semester. Unless otherwise noted, all homework
assignments are to be completed online (through WileyPLUS via Canvas).
• Some homework assignments may take considerable time to complete. It will be difficult to be successful in
the class without carefully completing the homework assignments. We may work through some homework
problems together during class.

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• You will be given several attempts to get the correct answers on homework assignments. You are expected to
have completed the assignment by 11:59 pm on the date indicated on the class schedule. Do not wait until
the last minute to complete the homework!
• There are no make-up opportunities for missed homework assignments as the assignments will be available for
several days with due dates communicated in advance.
• Your single lowest homework assignment score will be dropped when calculating your semester grade.

Exams
• Exams will be given in-person, in the classroom, during the regularly scheduled class time on the dates specified
on the Tentative Course Schedule.
• The examinations will cover material from the following sources: textbook; lectures/discussions (including
examples, handouts, and illustrations discussed during class); adaptive quizzes; and WileyPLUS homework
assignments. However, the exam material will not always have identical formats to the homework, examples,
handouts, suggested exercises and problems, etc.
• Once a student has received an exam, the student will not be allowed to take a make-up exam.
• After the exams have been graded, I generally will discuss exam performance in class. However, I will retain
possession of all exams. Students are welcome to review their graded exams during scheduled office hours.

Exam Materials and Policies:

• Bring your own pencils/erasers and your own calculator (see calculator policy below).
o Calculators may not be shared.
o The calculator screen must be cleared after each computation.
• Headphones and smart watches may not be worn during an exam or quiz.
• Cell phones must be kept in a student’s backpack, purse, etc. during an exam. A cell phone may not be on the
desk or in the student’s lap.
• Hats should not be worn or must be turned backwards during the exam.
• Students will not be allowed to leave the room once the exam has begun.
• Students will be required to show their current UK student ID at exams.
• Each student is expected to independently complete the exams and may not refer to other students’ exams or
discuss the exam with other students. See the academic integrity policy below.

Calculator Policy:
• Graphing calculators and mobile device calculator apps may not be used during exams.
• Financial calculators are encouraged. The calculator that I suggest is the Texas Instruments BA II PLUS, but
any basic “four function” calculator will suffice.

Optional Cumulative Final Exam:

• The cumulative final exam is optional.
• If it is taken, the final exam score will replace the lowest of your three previous exam scores. However, the final
exam will be cumulative and will include material from all chapters covered during the semester.
• Your grade on the final exam score will only count if you score higher than one of your previous exam scores
(i.e., it can only help your overall exam grade).
• I reserve the right to adjust the amount of time given to complete the final exam.
• Date and time of the final exams (to be given in-person in the normally scheduled classroom):
Section 001 (MW at 11:00 a.m.): Final Exam: Wednesday, December 18th, 10:30 a.m.

Make-up Exams
• There will be NO make-up exams for unexcused absences. Each student is responsible for managing their own
personal schedule (including work schedules) to be present at the exams.

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• Excused absences for missing an exam include instances of emergency that can be fully documented and
verified in accordance with university policy (Administrative Regulation 5.2.5.2). For an excused absence, the
student must provide me supporting written documentation from an appropriate third party.
• If possible, the student should personally notify me of the absence prior to the exam. Pursuant to AR 5.2.5.2, I
must be notified of the excused absence and provided acceptable supporting written from an appropriate third
party within one week of the absence. Examples of supporting documentation generally include an e-mail or
letter (specific to the student) from the University Health Services or a letter from a medical provider.
• If within one week of an absence the student is unable to provide appropriate supporting documentation for
the absence, the absence will be treated as unexcused and the student will be given an exam score of zero.
• Date/Time of Make-up Exams: Separate make-up exams for excused absences will be administered on the
following dates:
Exam 1 Make-up: Friday, October 4th, 2024, at 8 am in Main Bldg., Suite 009
Exam 2 Make-up: Friday, November 1st, 2024, at 8 am in Main Bldg., Suite 009
Exam 3 Make-up: Friday, December 13th, 2024, at 8 am in Main Bldg., Suite 009
I reserve the right to adjust dates/times/locations of make-up exams though any changes will be
communicated in class and/or via Canvas.

Extra Credit:
• Throughout the semester, students will be given the opportunity to complete extra credit problems during class.
The easiest way to earn the extra credit will be to attend lectures and always complete the in-class exercises.
• You must be in class to earn the extra credit. Each extra credit problem will be worth one point that will be added
to the student’s subsequent exam score.

Course Grading
Grading Scale
90% to 100%= A
80% to 89% = B
70% to 79% = C
Below 60% = E

Mid-term Grades
• Mid-term grades will be posted in myUK by the deadline established in the Academic Calendar.
• The midterm grades will be based on the average of your Exam 1 and Exam 2 scores (homework assignments
and quizzes grades will not be incorporated into the midterm grades).

Tutoring Resources

Transformative Learning
• Transformative Learning is a centralized student support unit on campus, a student’s one-stop shop for on-
campus academic resources, including peer tutoring at The Study and Integrated Success Coaching. The
mission of Transformative Learning is to enhance students' academic experience as early and as often as
possible. Visit TL’s Website for more information.

Supplemental Instruction (SI)

o This course was selected to participate in The Study’s Supplemental Instruction (SI) Program! SI is a
series of free, one-hour, weekly review sessions designed to help students succeed in this class and
beyond.

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 o SI sessions offer a chance to meet with classmates to compare notes, discuss important concepts,
develop strategies for studying, and test yourselves before quizzes and exams. At each session, you will
be guided through the materials by your SI Leader, a student who has previously taken the course and
been successful.
o Three SI sessions will be provided throughout the week, and you may attend any of the sessions that fit
into your schedule. SI is open to ALL students who want to improve their understanding of course
material and improve their grades.

Supplemental Instruction

Fall 2024 SI sessions start September 3rd, 2024, and include:

In person SI meetings: Tuesdays 2-3 Boone Center

Wednesday 5-6 Willy T B110

Virtual SI meeting: Mondays from 1-2pm (link on Canvas/GroupMe)

Office Hours: Thursday 2-3 Boone Center

*90-minute Exam Review Sessions will be held before each exam hybrid, with some sessions offered

The Study
o Peer tutoring is also available through The Study. The specific locations and hours are available online.

Gatton Business and Economics College LEAP Lab

• Students may use the LEAP Lab, which provides free tutoring services to students enrolled in ACC 201. Students
are required to bring their UK Student ID card to sign-in for tutoring.
• LEAP Fall 2024 Operating Hours for ACC 201:
o Monday thru Thursday 10 am – 7 pm B&E Rooms 247 and 249
o Friday 10 am – 3 pm B&E Rooms 247 and 249

Attendance Policy
• Attendance at all class meetings is expected. You are responsible for all announcements, syllabus revisions,
assignments, and any other material discussed in all class meetings. Class attendance is usually directly
related to the grades earned in ACC 201.
• You are expected to attend each class in its entirety. Late arrivals and early departures disrupt others. However,
if you are late, please feel comfortable entering the room quietly.
• Students with an unexcused absence from class should not expect my outside-of-class time.
• To meet federal regulations, I will monitor student participation in this class through your completion of
Homework and Adaptive Quiz assessments and at least one Adaptive Practice assignment completed during
class. I will assess student engagement at least once during the first three weeks of the semester. Students
whose engagement cannot be determined may be dropped from the course. If you miss any class period or
will not be submitting an assignment during that period, it is your responsibility to notify me, regardless of
whether the absence or missed assignment is excused or not per University rules.

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Classroom Policies
• Unless I indicate otherwise, cell phones are to be kept in your pocket, purse or backpack (rather than on your
desk or lap) during class. If I determine that you are using a cell phone during class for non-emergency purposes,
I may ask that you discontinue bringing the cell phone to class or I may ask you to leave the class session.
• Laptop computers and e-reader tablets may be used in class for reading the textbook (if in an e-reader format)
and for taking notes during our regular class periods. Laptop computers and e-reader tablets may not be used
for surfing the internet, e-mailing or other non-class related purposes. If I determine that you are using a laptop
computer or e-reader tablet during class for non-class related purposes, I may ask that you discontinue using it
in class or leave the class session.
• No recording, taping, or photography by camera, audio recorder, cell phone, etc. in class without my prior
permission.
• Copying an ACC 201 exam or assignment in whole in or part by any means will be deemed as academic
dishonesty, subject to the penalties for academic offenses according to the University of Kentucky’s
regulations. The receipt and/or use of any ACC 201 exam (in whole or in part), unless I have approved the use in
writing, will also be deemed as academic dishonesty, subject to the penalties for academic offenses according
to the University regulations.
• Following are examples of additional items that will be considered cheating, plagiarism, unethical behavior,
and/or academic dishonesty:
• Distribution, without my written approval, to another party outside of class; the in-class notes, in-class
exercises, PowerPoint slides, lecture transmittals, etc., from my ACC 201 classes.
• Receipt, downloading, or distribution of any WileyPLUS solution manuals or test banks related to the
textbook used in this course.
• Audio recording or video recording of any part of a class session without my written approval.
• Possessing and/or using any notes or other material during an exam.
• Claiming credit for any work other than your own; for example, the preparation of WileyPLUS homework
assignments.

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ADDITIONAL DEFINITIONS AND CLARIFICATIONS
Academic Standards
• The University’s Academic Standards are available online from the Office of the Provost website.

Excused Absences (AR-ASA 5.2.5.2.1 )

• Administrative Regulations (AR) – Academic and Student Affairs (ASA) regulation 5.2.5.2.1 defines the
following as acceptable reasons for excused absences: (a) significant illness, (b) death of a member
of the student’s household (permanent or campus) or immediate family member, (c) trips for
members of student organizations sponsored by an educational unit, trips for University classes and
trips for participation in intercollegiate athletic events, including club sports registered with the
University and varsity sports, (d) major religious holidays, (e) interviews for full-time job opportunities
after graduation and interviews for graduate or professional school, and (f) any other circumstances
which the Instructor of Record finds reasonable cause for absence. Students should notify the
instructor of absences prior to class when possible.
• If a student has excused absences for the dates and times associated with more than one-fifth of the
required interactions for a course, the student shall have the right to receive a "W", or the Instructor of
Record may award an “I” for the course if the student declines to receive a “W.” (AR-ASA 5.2.5.2.3.1)

Verification of Absences (AR-ASA 5.2.5.2.1)

• Students may be asked to verify their absences for them to be considered excused. AR-ASA 5.2.5.2.1
states that the instructor of record has the right to request appropriate verification when students
claim an excused absence due to: significant illness; death in the household or immediate family, trips
for classes, trips sponsored by an educational unit and trips for participation related to intercollegiate
athletic events; and interviews for full-time job opportunities after graduation and interviews for
graduate and professional school. (Appropriate notification of absences due to university-related trips
is required prior to the absence when feasible and in no case more than one week after the absence.

Religious Observances (AR-ASA 5.2.5.2.1.4)

• Students anticipating an absence for a major religious holiday are responsible for notifying the
instructor in writing of anticipated absences due to their observance of such holidays. At least two
weeks’ notice, prior to the absence, is deemed reasonable for this course and should not be given any
later. Information regarding major religious holidays may be obtained through the Academic Ombud
Services website or calling 859-257-3737.

Make-Up Work (AR-ASA 5.2.5.2.2)

• Except where prior notification is required, students missing any graded work due to an excused
absence bear the responsibility of informing the Instructor of Record about their excused absence
within one week following the period of the excused absence, and of making up the missed work. The
instructor must give the student an opportunity to make up the work and/or the exams missed due to
the excused absence, and shall do so, if feasible, during the semester in which the absence occurred.
• The instructor shall provide the student with an opportunity to make up the graded work and may not
simply calculate the student's grade on the basis of the other course requirements, unless the student
agrees in writing.

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Accommodations Due to Disability
• If you have a documented disability that requires academic accommodations, please schedule an
appointment with me as soon as possible (i.e., email me at [email protected]). To receive
accommodations in this course, you must provide me with a Letter of Accommodation from the
Disability Resource Center (DRC). The DRC coordinates campus disability services available to
students with disabilities. Visit the DRC website, email the DRC, contact them by phone at (859)
257-2754, or visit their office in Suite 300D in the Gatton Student Center or Suite 407 of the
Multidisciplinary Science Building.
• Only service animals and service animals in training as dictated under the Americans with
Disabilities Act (ADA) are allowed in academic buildings. All other animals, including support
animals, are not permitted in Gatton College of Business and Economics building unless
specifically indicated in writing by the Disability Resource Center.

Non-Discrimination Statement and Title IX Information

• In accordance with federal law, UK is committed to providing a safe learning, living, and working
environment for all members of the University community. The University maintains a
comprehensive program which protects all members from discrimination, harassment, and sexual
misconduct. For complete information about UK’s prohibition on discrimination and harassment
on aspects such as race, color, ethnic origin, national origin, creed, religion, political belief, sex,
and sexual orientation, see Administrative Regulation 6:1 (“Policy on Discrimination and
Harassment”) (https://regs.uky.edu/administrative-regulation/ar-61).
• In accordance with Title IX of the Education Amendments of 1972, the University prohibits
discrimination and harassment on the basis of sex in academics, employment, and all of its
programs and activities. Sexual misconduct is a form of sexual harassment in which one act is
severe enough to create a hostile environment based on sex and is prohibited between members
of the University community and shall not be tolerated. For more details, see Administrative
Regulations 6:2 (“Policy and Procedures for Addressing and Resolving Allegations of Sexual
Harassment Under Title IX and Other Forms of Sexual Misconduct”)
(https://regs.uky.edu/administrative-regulation/ar-62).
• Complaints regarding violations of University policies on discrimination, harassment, and sexual
misconduct are handled by the Office of Institutional Equity and Equal Opportunity (Institutional
Equity), which is located in 13 Main Building and can be reached by phone at (859) 257-8927. You
can also visit Institutional Equity’s website (https://ieeo.uky.edu/).
• Faculty members are obligated to forward any report made by a student related to discrimination,
harassment, and sexual misconduct to the Office of Institutional Equity. Students can
confidentially report alleged incidences through the Violence Intervention and Prevention
Center(https://www.uky.edu/vipcenter/), Counseling Center
(https://www.uky.edu/counselingcenter/), or University Student Health
Service(https://ukhealthcare.uky.edu/university-health-service/student-health).
• Reports of discrimination, harassment, or sexual misconduct may be made via the Institutional
Equity’s website (https://ieeo.uky.edu/contact-us); at that site, click on "Make a Report" on the
left-hand side of the page.

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Academic Integrity– Prohibition on Plagiarism (AR-ASA 6.3.2)
• Per University policy AR 6.3.2, students shall not plagiarize, cheat, or falsify or misuse academic
records. Students are expected to adhere to University policy on cheating and plagiarism in all courses.
The minimum penalty for a first offense is a zero on the assignment on which the offense occurred. If
the offense is considered severe or the student has other academic offenses on their record, more
serious penalties, up to suspension from the University may be imposed.
• Plagiarism and cheating are serious breaches of academic conduct. Each student is advised to
become familiar with the various forms of academic dishonesty as explained in the Code of Student
Conduct. Complete information can be found on the Academic Ombud Services page. A plea of
ignorance is not acceptable as a defense against the charge of academic dishonesty. It is important
that you review this information as all ideas borrowed from others need to be properly credited.

Academic Integrity – Cheating (AR-ASA 6.3.2.2)

• Cheating is defined by its general usage. It includes, but is not limited to, the wrongfully giving, taking,
or presenting any information or material by a student with the intent of aiding himself/herself or
another on any academic work which is considered in any way in the determination of the final grade.
The fact that a student could not have benefited from an action is not by itself proof that the action
does not constitute cheating. Any question of definition shall be referred to the University Appeals
Board.

Academic Integrity – Prohibition on Falsification or Misuse of Academic Records (AR-ASA 6.3.2.3)

• Maintaining the integrity, accuracy, and appropriate privacy of student academic records is an
essential administrative function of the University and a basic protection of all students. Accordingly,
the actual or attempted falsification, theft, misrepresentation or other alteration or misuse of any
official academic record of the University, specifically including knowingly having unauthorized access
to such records or the unauthorized disclosure of information contained in such records, is a serious
academic offense.
• As used in this context, "academic record" includes all paper and electronic versions of the partial or
complete permanent academic record, all official and unofficial academic transcripts, application
documents and admission credentials, and all academic record transaction documents. The
minimum sanction for falsification, including the omission of information, or attempted falsification
or other misuse of academic records as described in this section is suspension for one semester.

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