2010/2011, Semester 1
School of Business (Accounting)
Modular Credits: 4
Accounting is the language of business, facilitating communication of the financial aspects of business. This module provides an introduction to the financial accounting branch of accounting. The activities and events of a business entity are summarised by the financial accounting process into published financial statements to be used by external users such as investors and creditors. Such users would need to understand both the financial accounting process and its outputs in order to make investing or lending decisions. Therefore, students will learn how to prepare simple financial statements and also learn how to read, understand and use published financial statements for decision-making. Published financial statements of listed companies will be used as examples. This module is targeted at
students and will be taught from a
The module objectives are:
To understand the basic concepts and principles underlying financial accounting.
To learn the process that results in published financial statements.
To prepare simple financial statements.
To account for common elements of the financial statements.
To understand and use most of the common information presented in published financial statements.
Lecture (2 hours per week), where major points of a topic are covered. Students are expected to download lecture handouts from the course website and bring them to the lectures.
Tutorial (1 hour per week), where the student is expected to complete assigned tutorial questions
class, and to contribute to discussions during class. Students are expected to download course schedule containing the assigned tutorial questions from the course website.
Overview of Financial Accounting
Accounting Cycle (I)
- Recording Economic Transactions
Accounting Cycle (II)
Accounting Cycle (
- Preparation of the Financial Statements
Financial Assets – Cash and Accounts Receivable
Accounting for Merchandise Inventory
Plant and Intangible Assets
Stockholders’ Equity: Paid-in Capital
Income statement and Statement of Changes in Equity
Statement of Cash Flows
Financial Statement Analysis / Review
Ms Elaine Tan will be lecturing from week 1 to 6 while Dr Zhang Weining will be covering lectures from week 7 to 12. Each lecturer will provide details of lecture sub-topics, reading references and tutorial questions in separate handouts to be downloaded from the course website.
Tutorials commence from Week 3 (week beginning 23 August 2010). Students should stick to their assigned tutorial slots, unless otherwise approved by the
This course is designed to provide a basic understanding of financial accounting and covers various financial accounting topics, including basic accounting theory, accounting principles, procedures to record business transactions, measurements of assets and liabilities and preparations for financial statements. More importantly, students will learn how accounting information assists financial statement users in facilitating their decision making.
Students are expected to visit the course website on the
IVLE (Integrated Virtual Learning Environment)
, preferably everyday if possible.
will be posted on the website. Lecture handouts, tutorial sheets, etc are also posted in the
on the website for download by students.
to other useful websites and a
can also be found. A
is also set up on this website to enable students to exchange accounting-related questions and answers. Course website will be up only in early-August 2010.
Online Homework Assignments
(A) Mid-term exam is a
exam and will cover all materials from the first five lectures. The mid-term exam is scheduled on
October 2nd (Saturday) from 1215hr to 1330hr in MPSH1
. No make-up exam for the mid-term exam. Further details will be provided in due course.
(B) Final examination is an
exam. All material lectured in the course are examinable. The final exam is scheduled on
November 25th (Thursday) at
(venue to be announced)
. No make-up exam for the final exam. Further details will be provided in due course.
(C) Class participation is assessed by the student’s participation during tutorials. The tutor will assess the performance of participation for his/her tutorial groups at the end of the semester. Note that mere attendance at tutorials is
considered participation, and it is possible to get zero marks for participation.
(D) Online homework will be assigned for most of the topics. The questions for the online homework supplement those for the tutorials and they will be graded online by software. Students are expected to complete each assignment individually. More details will be provided later in a separate document.
Students who have passed CS1304 or EC3212 or BK1003 or BZ1002 or BH1002 or BZ1002E or BH1002E or FNA1002E or FNA1002X are not allowed to take ACC1002X.