ACT 200: ACCOUNTING: THE LANGUAGE OF BUSINESS
Fall 2025
Professor: Dr. Jianxin (Donny) Zhao
Office: Goizueta Business School, Room 454
Office Hours: Wednesdays 4:30 – 5:30 pm a, or by appointment
Phone/E-mail: (404) 727-4793;
[email protected]Class Logistics: Section 1: Mon/Wed, 01:00 am – 02:15 am GBS 231
Section 2: Mon/Wed, 02:30 am – 03:45 pm GBS 231
COURSE DESCRIPTION AND OBJECTIVES
Accounting is called "the language of business" because accounting information is utilized in
every segment of the business world for a wide variety of purposes, including appraisal of firm
performance, security valuation, credit analysis, and evaluation of managerial effectiveness.
Knowledge of accounting is critical for managers, investors, entrepreneurs, bankers,
economists, financial analysts and (of course) professional accountants! Your objective in this
course is to understand the fundamental concepts and methodologies used in financial
accounting and develop the skills of analyzing firm performance using financial information.
While my responsibilities as your instructor include helping you meet this objective, my
broader goal is to make you a sophisticated consumer of accounting information and enhance
your ability to communicate and invest in the business world.
Upon successful completion of this course, you should be able to:
1. Explain why financial reporting matters. You will distinguish the roles that financial
reporting plays in valuation and contracting, and the roles that corporate managers and
various capital market participants play in the financial reporting process. You will
describe how corporate strategies and managers’ own economic incentives and
behavioral biases tend to affect the quality of financial disclosures.
2. Explain common financial accounting terms and concepts. That old cliché about
accounting being the language of business is pretty much true. By the end of the course,
you will speak “colloquial accounting”—you will be able to explain and apply common
financial accounting concepts, terms, and relationships.
3. Describe typical business transactions and their financial reporting. You will
describe common operating, investing, and financing activities; explain why companies
engage in them; and suggest how they are measured and disclosed in corporate financial
reports.
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I reserve the right to cancel/reschedule office hours on a given day by giving you advance notice.
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4. Analyze the effects of actual and hypothetical business transactions on a company’s
financial statements and economic performance. You will use the accounting identity,
a financial statement effects template, and T-accounts to determine the effects of actual
and hypothetical business transactions on a company’s financial statements, earnings,
cash flows, and financial ratios.
5. Analyze financial ratios and cash flows to evaluate a company’s economic
performance. You will select and compute relevant financial ratios. You will compare
these ratios over time and across companies to assess the company’s profitability,
productivity, and leverage. You will supplement these analyses by inspecting patterns in
the company’s operating, investing, and financing cash flows. You will identify potential
effects that macroeconomic factors, industry dynamics, and the company’s own
competitive strategy have on the information reported in the financial statements and on
the company’s financial ratio and cash flow patterns.
6. Use ratios to understand equity valuation of a company. Using price multiples on
earnings, equity, and other performance measures, you will infer what the market thinks
about a firm’s future earnings potential. You will use a variety of attributes to identify a
set of comparable companies and compare and contrast equity valuation across these
firms.
REQUIRED MATERIALS
• Financial Accounting for Managers by Thomas, Drake, Thornock and Spiceland
o Textbook (either e-book or hard copy – see options below)
o Connect online homework access code (both eBook and the hard copy should come
with a Connect access code)
You may buy an eBook or a hard copy - both are available through the campus bookstore or
directly through the McGraw Hill Connect website (accessed through our course Canvas site).
To access the Connect website, log into our course Canvas site. Then, click on the “McGraw-Hill
Connect” link on the left of the screen. This will take you to the Connect website. The first time
you go there, you will be asked to either input your Connect access code (if you purchased Connect
through the Bookstore), or to purchase your Connect access directly from the website (if that is
your preference). You will also see an option for a free trial. Select the free trial option (temporary
access) if you are not sure whether you will remain enrolled in the course. Note that access to
McGraw Hill Connect comes with access to the eBook.
CANVAS
I will use Canvas throughout the course to post course announcements, lecture slides, answers to
recommended homework problems, and other materials as needed. It is your responsibility to print
course materials from Canvas if you need them. Further, it is your responsibility to check Canvas
on a regular basis for course announcements and other materials, which I recommend that you do
at least daily.
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GRADE BREAKDOWN AND EXPECTATIONS
Course grades are based on two midterm exams, class participation, homework, and a cumulative
final exam. The course average will be calculated using the following weightings:
Pre-class smart book readings 10%
Homework 15%
Attendance and class participation (details below) 10%
Midterm exams 35%
Final exam 30%
Goizueta Business School uses the following grade distribution for all BBA prerequisite and core
courses:
GRADE ALLOWABLE %
A 15%-20%
A- 15%-20%
A/A- GRADES NOT TO EXCEED 35%
B+ 15%-20%
B 15%-20%
B- 10%-15%
B (including +/-) GRADES NOT TO EXCEED 45%
C+ OR BELOW, NO FEWER THAN 20%
The satisfactory/unsatisfactory (S/U) grade option is not available for this course.
PRE-CLASS SMART BOOK READINGS
The ‘Prepare’ stage involves completing Before Class Readings to give you a head start on each
topic. The goal is for you to become familiar with key terms and concepts before we spend time
analyzing those terms and concepts in class. Each pre-class reading will take less than 30
minutes to complete. By doing them, you’ll be ready to actively participate in the next steps:
explaining, practicing, and mastering.
The reading assignments use Connect’s Smartbook. These assignments adapt based on how you
are performing. Once you demonstrate that you understand a concept, further questions related to
that topic will no longer appear. If you struggle with a concept, you will encounter repeating
questions until you master the concept. If you fully complete these types of assignments, you
will receive a 100% regardless of the actual percentage of questions you got correct.
You are allowed two free passes to accommodate internet issues, emergencies, illness, or simply
forgetting. Only your best 18 (total is 20) smart book assignments will count toward your grade.
HOMEWORK
As outlined in the syllabus, there are eleven required homework assignments and one optional
assignment. The optional assignment is an Excel practice exercise, which is not graded.
Of the eleven required assignments, one is a written Monopoly homework, to be completed by
your group after the Accounting Monopoly game. The remaining ten are individual assignments
that must be completed in Connect, which you can access through the “Assignments” section in
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Canvas. Your homework grade will be calculated as the average of your ten highest scores out of
the eleven required assignments—your lowest score will be dropped. The Connect assignments
are automatically graded, and you may attempt each assignment up to three times.
Please note that late assignments will lose 20 percentage points. The computer is very precise in
its timing. I encourage you to complete each assignment sooner rather than later, to ensure that
you do not have a technological problem at the last minute that prevents you from submitting
your most recent work.
Each student must submit your Connect homework assignments individually through your own
Connect accounts. However, you may get assistance from TAs and/or work together on your
homework if it facilitates your learning of the material. However, note that most questions are
algorithmic, so each student will receive different numbers (and therefore different solutions) to
each assigned question.
If you have any problems using Connect, visit http://mpss.mhhe.com/ or call 800-331-5094.
ATTENDANCE AND CLASS PARTICIPATION
I expect regular, punctual class attendance. I also expect professional conduct in class at all times.
You are taking this class at the Goizueta Business School…so, think of each class as a business
meeting, and conduct yourself accordingly. Examples of unprofessional conduct include (but are
not limited to) tardiness, leaving class early, failing to silence all technology during class (e.g.,
using laptops or communication devices during class), talking while someone else (including me)
is talking, and doing other activities while on your laptop. I reserve the right to reduce your course
participation grade if you demonstrate repeated instances of unprofessional behavior.
Class participation represents 10% of your final course grade and will be based on the following:
• In-class exercises
• Quality of your contribution during class
• Research participation
In-class exercises: In most class sessions, I will hand out and then collect back from you an in-
class practice exercise. Your “grade” on each exercise is determined by your effort level, not by
the correctness of your answers. If you hand in an exercise that shows reasonable effort (e.g., all
questions are answered and some thought is evident), you will receive full credit. Otherwise, you
will receive less than full credit. If you are tardy or absent from class and therefore do not
complete a day’s exercise, you will receive a zero for that day’s exercise regardless of the reason
for your tardiness or absence (including excused absences). You will also receive a zero for the
day’s exercise if you leave class early. There are no make-ups. I will drop your worst four
exercise grades.
Quality of your contribution during class: Examples of high-quality contributions can include
clarification questions about what we are discussing, responses to instructor’s questions, and
comments that connect a topic to another topic or to real-life events. Examples of low-quality
participation include comments that merely repeat what others have said or are disrespectful. I
strongly recommend you to bring your nameplate and keep it visible during all class meetings, so
that I can learn your names.
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Research Participation: To deepen your understanding of how scientific knowledge is created,
you are required to participate in two 1-hour-long research participation session in the Goizueta
Behavioral Lab by the last day of class. For more information on this program, please see the
separate documents on Canvas titled “Research Participation” All questions regarding research
participation should be directed towards [email protected].
EXAM
There will be two in-class non-cumulative midterm exams (during normal class time) and a
cumulative final exam. Bring only your Emory ID or other picture ID, pencils, eraser, and a
calculator to each exam. Scratch paper will be provided to you at each exam. All exams are
closed book. No other materials are allowed at your seat during exams except for one page of
notes.
The date of each exam as well as the material covered is specified in the course schedule. These
exam dates are not flexible. You are expected to take the exam on the date and time they are
scheduled during the course section that you are officially registered. Exams will be proctored and
videotaped using existing classroom technology to help encourage the utmost in academic
integrity.
There are no make-up exams. Grades of zero will be recorded for unexcused exam absences. For
students with an excused absence for one of the midterm exams, the weight of the missed midterm
17.5% will be added to the final exam (i.e., the final exam will then receive 47.5% weight in your
course grade). In the rare case where a student happens to have an excused absence for both
midterm exams, the final exam will receive 65% weight in their course grade calculation.
If an ACT 200 exam conflicts with an athletic event or you need an DAS accommodation: you
must submit written documentation to me via email no later than September 13, 2025. I will
follow the BBA Program Office's policy on excused exam absences, which is as follows:
"Any BBA student seeking to defer a major in-course exam or final exam due to illness or
emergency must be granted formal permission by the Senior Associate Dean of the BBA Program.
Such deferments will be granted only in the following circumstances, all of which must be
independently documented and verified:
1. Illness requiring in-patient hospitalization during the time of the exam.
2. Death of an immediate family member (grandparent, parent, or sibling) immediately
prior to or at the time of the exam.
3. Illness for which a treating physician provides independent, written documentation
directly to the Program Office stating that the student is medically incapable of taking the
exam because of health risk to himself/herself or others. If such documentation is not
available, with written consent from the student, if the BBA Program Office can verbally
confirm with a physician in Student Health that the student is medically incapable of taking
the exam because of health risk to himself/herself or others, then the student will be
excused.
4. Other extraordinary circumstances beyond the student’s control for which
documentation can be provided and for which there is absolutely no alternative.”
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Except in the case of #1 or #2, such documentation must be received prior to the exam to be
excused. In the case of #1 and #2, documentation must be provided no later than 24 hours after the
exam and must cover the time of the exam." In the case of #3 and #4, documentation must be
received prior to the exam to be excused. Under these properly documented circumstances, I will
consider giving you a make-up exam.
DEPARTMENT OF ACCESSIBILITY SERVICES (DAS)
As the instructor of this course, I endeavor to provide an inclusive learning environment. If you
have a documented disability and have anticipated barriers related to the format or requirements
of this course, or presume having a disability (e.g., mental health, attention, learning, vision,
hearing, physical or systemic), and need accommodations for this semester, I encourage you to
contact the Department of Accessibility Services (DAS) to learn more about the registration
process and steps for requesting accommodations. All discussions with DAS and faculty
concerning the nature of your disability remain confidential. Please visit
https://accessibility.emory.edu/index.html for additional information regarding DAS.
Please reach out to me by September 13, 2025 and complete all of the following if you have
DAS accommodations in place:
• Submit a copy of your formal "Notice of Accommodation" letter. If you are currently
registered with DAS and have not received a copy of your accommodation notification
letter within the first week of class, please notify DAS immediately.
• Come see me during my office hours to communicate your specific needs for the course
as it relates to your approved accommodations.
Students who have accommodations that include assessments and exams must register
accommodation requests with the BBA Program Office. The form to do so can be found at:
https://forms.office.com/pages/responsepage.aspx?id=nPsE4KSwT0K80DImBtXfOEa4NBn7L
QxElCAtqooi0aNURFoyS0VGTTdVNDMxQTdBWENYMVoxMEQ3VC4u
Students are able to enter all exams for the term immediately, and all exams’ dates can be
found on this syllabus. If a student does not register their request at least 2 weeks prior to the
exam, they should expect to take the exam with the class in the regularly scheduled time
allotted. For equity reasons, students cannot be accommodated if they do not meet this
timeline. Students can submit multiple requests for multiple dates all at one time, so there is no
reason to delay submitting your request.
STUDENT CONSENT FORM
Each student must complete and sign the ACT 200 Student Consent Form (provided on the last
page of this syllabus) agreeing to abide by the GBS Honor Code and other conditions of the class.
You can sign and submit through Canvas Assignment tab or in person. Failing to turn in the
Student Consent Form by 5 pm on September 7, 2025 will result in loss of 25% of class
participation points.
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GETTING HELP
I have engaged the services of a few teaching assistants who will assist you by answering day-to-
day questions related to course material. The TAs will hold open office hours at the business
library. I will post their office hour schedules on Canvas early in the semester. I am available
during my regularly scheduled office hours (see page 1) if you need to discuss anything related to
the course directly with me.
ACADEMIC HONESTY POLICY
I have zero tolerance for academic dishonesty. Academic dishonesty in any form is unacceptable
because any breach in academic integrity, however small, strikes destructively at the University’s
life and work…and frankly, it hurts you and your classmates, as well. Your participation in this
course comes with my expectation that your work will be completed in full observance of the
Goizueta Honor Code. For more information about our collective responsibilities under the
Goizueta Honor Code, please refer to the following link:
http://goizueta.emory.edu/degree/undergraduate/curriculum/standards_honors.html
If I suspect a violation of the Honor Code, I will do my job and refer you to the Honor Council,
and they will determine your fate.
ADDITIONAL GUIDELINES AND POLICIES
• The class will begin promptly at the scheduled time. Please be in class and prepared to begin
on time for each class;
• The use of laptops, cell phones, or other electronic devices is not permitted during class;
However, tablets used for note-taking are allowed (the tablet must lay flat on the desk).
• Please get notes from a classmate for all excused and unexcused absences. I will not repeat
lectures during office hours;
• This syllabus will be changed from time to time and does not constitute a contract between us.
It is your responsibility to make sure you have the current version of the syllabus, which will
always be posted on Canvas;
• Please refer to the Emory University Undergraduate Code of Conduct for guidance on
University policies not specifically addressed here (http://conduct.emory.edu/).
SUGGESTIONS FOR SUCCESS
The best bet for success involves a number of steps. The first, is making sure you do the advanced
preparation for each class session. The second is reworking problems done in class and trying
other/additional problems. The third is making sure you ask questions in a real-time manner to
solidify your understanding of the material as we go, rather than trying to ‘get it’ right before a
test.
I suggest you do the following:
• Read assigned material thoroughly before class. You will get more out of class discussions
and practice problems if you come to class prepared to engage on a given topic.
• Take handwritten notes during class. Research shows that taking handwritten notes helps
the brain learn. Further, this will keep you focused and engaged during class.
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• Shortly after class, review your notes. Pause. Think. Ask yourself, why is this the rule?
Does it make sense? How could I apply it to a business I am familiar with? Do I understand
this well enough to teach a friend?
• Focus on learning concepts first. Once you fully master a concept, do practice problems.
Practice problems should be easier once you thoroughly understand the concept and why
an item is accounted for in a particular way.
• Rework practice problems from class as well as homework problems without the answers
in front of you. If you get stuck, look to your notes and try to teach yourself the concept
rather than looking to the answer and teaching yourself the process behind that particular
problem (i.e. try to work forwards not backwards).
• Keep up with the material. Success in this class requires several hours of work each week.
Waiting to learn all the material at the last minute will not lead to long term learning nor
success in this course.
• If you need help, seek it! I have engaged the services of several excellent teaching assistants
who can assist you with any topics and/or homework problems you are struggling with. I
will have also have regular office hours. I am here and have set aside this time to meet with
you all. Utilize these resources, they can be more helpful than you realize!
COURSE SCHEDULE AND ASSIGNMENTS
Attached (next page) is a tentative course outline. The schedule may be changed at any time
depending on how quickly or slowly the class moves through the assigned materials. Any
changes to the schedule will be posted on Canvas. You are responsible for continuously
monitoring our course website and keeping up with course assignments.
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COURSE SCHEDULE AND ASSIGNMENTS
8/27: Overview
Reading See Canvas
Do After Excel Assignment (optional, can skip if you know Excel well)
9/3 - 9/8: The Balance Sheet
Reading See Canvas
Do After Connect - HW 1
9/10 - 9/15: The Income Statement
Reading See Canvas
Do After Connect - HW 2
9/17 - 9/22: Analyzing Transactions and Adjustments
Reading See Canvas
Do After Connect - HW 3
9/24: Monopoly
Do After Write-up as HW 4
9/29 - 10/1: Receivables
Reading See Canvas
Do After Connect - HW 5
10/6: Review Day
10/8: In-Class Mid-term Exam 1
10/15 - 10/20: Cash Conversion Cycle and Inventory
Reading See Canvas
Do After Connect - HW 6
10/22 - 10/27: Statement of Cash Flows
Reading See Canvas
Do After Connect - HW 7
10/29 - 11/3: Long-term Assets
Reading See Canvas
Do After Connect - HW 8
11/5 - 11/10: Liabilities
Reading See Canvas
Do After Connect - HW 9
11/12: Review Day
11/17: In-Class Mid-term Exam 2
11/19 - 11/24: Profitability Analysis
Reading See Canvas
Do After Connect - HW 10
12/1 - 12/3: Stockholders’ Equity and Valuation
Reading See Canvas
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Do After Connect - HW 11
12/8: Wrap up and review
12/13 (tentative): Cumulative Final Exam
Due by 11:59pm on
Homework Schedule Sundays:
HW 0 - Excel Assignment (optional) 8/31
HW 1 - The Balance Sheet 9/14
HW 2 - The Income Statement 9/21
HW 3 - Transaction Analysis and Adjustments
9/28
HW 4 - Write-up after Monopoly
HW 5 - Receivables 10/5
HW 6 - CCC and Inventory 10/26
HW 7 - Cash Flow Statement 11/2
HW 8 - Long-term Assets 11/9
HW 9 - Liabilities 11/16
HW 10 - Profitability Analysis 11/24
HW 11 - Equity and Valuation 12/7
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ACT 200 Fall 2025
Student Consent Form
Each student must read, sign, date, and return this form by 5 pm on September 7, 2025.
I_______________________________, (ID #______________________________), do hereby
agree to all the conditions for participation in this course. In addition, I swear that all work
performed and submitted in this class will be my own. I understand that should ANY work
performed in this class be determined to not be of my own hand and creation, I will fail the class
AS A WHOLE. I may also be subject to additional disciplinary measures.
I further understand that it is my responsibility to submit all work in a timely manner and that the
grades on my work will suffer appreciably should my assignments not arrive on time.
I agree to take all required exams at the date and time stated.
Since I am enrolled and have paid all tuition and fees associated with this course, I can access
Canvas and all the course resources that reside there. However, I understand that distributing
course materials to people outside of this course without permission may give rise to copyright
issues. I am aware that the Canvas site for this course is merged across sections and may or may
not contain discussion or group activities that reveal my participation in this course to others.
I have read and understood the Business School Honor Code.
Signature ___________________________________________
Date ________________________________________________________
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