yes you can apply an acl in and out at the same time on an interface IP interface and there active for each way
you can also apply a layer 2 mac acl opn layer 2 ports if your software allows it
here is an example from my network i have removed the ips
interface GigabitEthernet0/0.18
description xxxxx WLAN Ethernet
encapsulation dot1Q 18
ip address x.x.x.xx 255.255.255.0
ip access-group 115 in
ip access-group 115 out
ip helper-address x.x.x.x
ip helper-address x.x.x.x
ip accounting output-packets
ip flow ingress
ids-service-module monitoring
standby 6 ip x.x.x.x
standby 6 priority 110
standby 6 preempt
standby 6 track 1 decrement 2
standby 6 track 2 decrement 2
standby 6 track 3 decrement 2
service-policy input DSCPTRAFFIC
access-list 115 permit udp any x.x.x.x 0.0.0.15 eq tftp
access-list 115 permit udp any x.x.x.x 0.0.0.15 eq tftp
access-list 115 permit udp any host x.x.x.x eq tftp
access-list 115 permit udp any host x.x.x.x eq tftp
access-list 115 permit udp any host x.x.x.x eq tftp
access-list 115 deny udp any any eq tftp log
access-list 115 permit ip any any
