2014/2015, Semester 2
School of Business (Accounting)
Modular Credits: 4
This course is to equip students as managers to interpret and use the financial statements information in business analysis and decisions. Managers need a firm basis for using financial statement information in their careers in marketing, finance, banking, manufacturing, human resources, sales, information systems or other areas of management
AIMS AND OBJECTIVES
The course will equip the students with the understanding of financial accounting concepts, methods and uses. The primary objectives of the course are to:
- Help students develop a good understanding of the accounting concepts and mechanisms underlying financial information so that they can utilize the financial information for decision-making purposes in business problems.
- Train students in accounting concepts and methods so that they can interpret, analyse and evaluate financial statements and notes currently published in company annual reports.
- Provide students with a broad range of experience with realistic business and financial accounting practices.
- Provide students with exposure on ethical and corporate governance issues in the business world.
The module BMA5003_P1 is set up in IVLE. You need to access the IVLE at least weekly before the lecture to download the lecture materials and look out for announcements.
Class sessions will consist of lecture presentations combined with student presentations and discussion.
Punctuality, courtesy & absenteeism: Please arrive PUNCTUALLY. Students whom are absent without valid reasons will be taken note of and participation marks would be deducted. Please switch your mobile to silent mode during the class.
For lecture, major points of a topic are covered. Lecture notes will be uploaded to IVLE before the start of class each week. Students are advised to quick read the lecture notes and the chapters of the recommended textbook (refer to the lecture plan below) before class each week. Additional readings assigned as and when would also be uploaded to IVLE before each lecture.
Overview and Fundamentals of Financial Accounting
Libby Ch 1
Communicating and Interpreting Accounting Information
Libby Ch 5
Concepts and Understanding of Balance Sheet
Libby Ch 2
Concepts and Understanding of Income Statement
Libby Ch 3
Performing Financial Statement Analysis
Libby Ch 13
Concepts and Understanding of Sales Cycle and Receivables
Libby Ch 6
25/2 (make up for 18/2 CNY eve)
Cost of Goods Sold and Inventory Accounting
Libby Ch 7
Concepts and Understanding of Long Term Assets and Intangibles
Libby Ch 8
E-learning and Quiz (Quiz is taken at home. No lecture on 11/3)
Concepts and Understanding of Liabilities and Owner's Equity
Libby Ch 9 & 11
Concepts and Understanding of Cash Flow Statements
Libby Ch 12
Synthesis of Financial Reporting, Course Wrap-up & Final Revision
Libby Ch 4
Submission of project (Due on 19 April 12 midnight)
Final Test [Venue-as per lecture room]
Financial Accounting (8th edition) Global Edition, by Libby, Libby, and Short, and published by McGraw Hill bundled with Connect Student Access Card. (Note: Student should purchase the set bundled with Connect Access Card. Separate purchase may cost more than the bundle set.)
Supplementary Readings will be handed out during classes or posted to IVLE.
Course materials (lecture notes, discussion problems, project materials, etc) will be posted periodically on IVLE.
CLASS PARTICIPATION (10%)
Please participate during the case discussions and lessons actively. Marks will be given for class participations. Please participate by asking questions, answering questions posed by lecturer and fellow students, offering opinions, relating material taught to your working experiences, commenting on presented solutions to assignments.
INDIVIDUAL TUTORIAL (10%)
The purpose of the tutorial assignment is to help you to practice the accounting concepts and mechanisms, and apply them to the questions. This is key part of the learning. All students are expected to complete the tutorial questions before the due date.
The tutorials will be administered using Connect Online platform using the Connect Access Card where you can access the tutorial questions and key in your solutions. There will be auto-marking by the system and the lecturer concurrently. Please complete the tutorial questions before the deadline set in Connect. (Tutorial 1 - Due 02/09, Tutorial 2 - Due 03/09, Tutorial 3 - Due 04/06. All due 11.59pm). Late submission will not be considered for grading and zero mark will be granted.
You can discuss the tutorial questions in your group. However, all submission of the assignment is on an individual basis via Connect. Each student is required to submit the tutorial.
GROUP CASE (10%)
A group will be assigned to present the solutions of the group case, while the other students are expected to contribute to the discussion of the answers. Due to time constraint, sometimes not all the questions can be discussed during the class, by which, the suggested solutions will be uploaded by the instructor for self-checking. The grading will be based on the solutions submitted and the presentation. The presentation slides (
) should be
to the student’s workbin by the
deadline at 12 noon
. There is
to prepare a separate word document for instructor's grading.
The rest of the class is expected to prepare the assignment and participate actively in the discussion of the assignment. Participation marks would be given.
ANNUAL REPORT PROJECT (20%)
This is a group project where the group will perform an analysis of a real-world company annual report by applying the accounting concepts and methods taught in the course. It requires the reading and analysis of annual report of listed companies. It serves to integrate all the topics covered and is also the self-learning component of the course.
Deliverable will be the Project Report. Limit Details on the course project will be provided later.
Grading will be based on clarity, conciseness and correctness of the written report of your analysis.
The quiz consists multiple choice questions on an e-learning Connect platform and are open-book and open-notes. MCQ Quiz is taken at home from
SGT (Singapore Time) 7-9pm on 11 March
. Please note that the quiz covers the topics from
Lecture 1 to Lecture 5 (inclusive)
. Lecture 5 is on
Concepts and Understanding of Sales Cycle and Receivables.
You need a calculator to aid in your computation. Any calculator would do.
Upon submission in Connect, you would receive your score.
after the due date and time.
Please remember to save your work during the quiz and only submit when you are ready. There is only
one submission allowed
. Upon due time, the quiz will be automatically submitted.
FINAL TEST (35%)
The final test is an open-book, open-notes test. All materials covered during the semester in lectures, presentations, assignments, assigned readings and group project are examinable. All University-approved calculators are permitted. Any other electronic and mobile devices e.g. laptop, smartphones and mobile phones are not allowed. Absence is not allowed and zero mark will be granted.
Your final grade will be determined on the following basis:
Annual report project
Individual Tutorial submission
Workload Components : A-B-C-D-E
A: no. of lecture hours per week
B: no. of tutorial hours per week
C: no. of lab hours per week
D: no. of hours for projects, assignments, fieldwork etc per week
E: no. of hours for preparatory work by a student per week
Although this module is a basic accounting module, students who have no accounting or business finance background are likely to find it challenging at the beginning. This is because this will be a new language with its own unique terminology, concepts and rules, hence time and efforts are needed to familiarize with them. Do not give up.
Work hard and hope you will have an enjoyable learning experience equipping you with the knowledge to the accounting world.
Instructor: Adjunct Associate Professor Deon Chan
Office: BIZ2 #02-15
Consultation Hours: By 3 working days’ advance appointment