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This document outlines the course content, assessment, and policies for ACCT 2111 Introductory Financial Accounting at the Chinese University of Hong Kong. The course aims to provide students with an understanding of basic financial accounting concepts and principles according to GAAP. Assessment is based on a final exam, midterm exam, assignments, and group project analyzing annual reports of public companies. Students are expected to self-study for at least 6 hours per week and are responsible for submitting all homework on time. Academic dishonesty will not be tolerated.
This document outlines the course content, assessment, and policies for ACCT 2111 Introductory Financial Accounting at the Chinese University of Hong Kong. The course aims to provide students with an understanding of basic financial accounting concepts and principles according to GAAP. Assessment is based on a final exam, midterm exam, assignments, and group project analyzing annual reports of public companies. Students are expected to self-study for at least 6 hours per week and are responsible for submitting all homework on time. Academic dishonesty will not be tolerated.
This document outlines the course content, assessment, and policies for ACCT 2111 Introductory Financial Accounting at the Chinese University of Hong Kong. The course aims to provide students with an understanding of basic financial accounting concepts and principles according to GAAP. Assessment is based on a final exam, midterm exam, assignments, and group project analyzing annual reports of public companies. Students are expected to self-study for at least 6 hours per week and are responsible for submitting all homework on time. Academic dishonesty will not be tolerated.
COURSE CONTENT This course is designed to provide students with a comprehensive understanding of financial accounting principles, practices and its underlying theories. In this course, we will emphasize on basic financial accounting concepts and principles, and discuss how to measure companys net income, assets, liabilities and shareholders equity using Generally Accepted Accounting Principles (GAAP).
REQUIRED TEXTBOOK Weygandt, Kimmel and Kieso, Financial Accounting, J ohn Wiley, 6 th edition, 2010 with IFRS Update. ISBN 978-0-470-62327-5
REFERENCE TEXTBOOK J effrey Waybright, and Robert Kemp, Financial Accounting, Pearson, 2010. ISBN 978-0-13-706779-4
COURSE ASSESSMENT Course grade will be based on the following elements:
Uniform Final Exam 50% Mid-term Exam 35% Class Participation, Quiz & Homework (individual) 10% Group Assignment (team) 5% Total 100%
FINAL EXAMINATION A uniform closed-book final comprehensive examination will be given to all ACCT2111 students on the location and date assigned by the University. No individual make-up examination will be offered.
QUIZ AND CLASS PARTICIPATION Quizzes might be given during the term. No make-up quiz will be allowed.
Students can obtain marks in participation by actively involved in the class (e.g. offering a solution to an in-class question, asking questions during the break time or after class, or making good comments on the class material), by submitting homeworks on time, and by taking the quizzes.
HOMEWORK Students are required to submit all assigned homework for grading. No late homework will be accepted. Late or missing homeworks are subjected to point deduction. It is students responsibility to make sure that all homeworks are submitted on time. Students can have access to the solution manual only after homework assignments have been graded.
GROUP ASSIGNMENT Annual Report Project The objective of this project is to help students pull together various accounting concepts learned in this course and apply them to real-world business situations.
Students will be organized in small groups of around 5 students each. Each group is required to conduct online research for some selected public listed companies in Hong Kong. Students, working together as a team, need to gather the background information and the most recent annual reports from the web sites of the selected companies. Students are required to work systematic through the annual report to develop a critical analysis to assess the financial health of the selected companies, including perform of comparative analysis, and the use of horizontal analysis, vertical analysis and ratio analysis.
Self-study
2 Accounting is a do-it-yourself course. Self-study is as important as the lecture. The minimum required study time outside the classroom is six hours each week. The best way for self-study is to focus on the textbook and lecture notes. Careful reading and exercises are the only ways to understand the course material. Students are encouraged to work on more exercises and problems at the end of each chapter. Checklist of key figures (if any) is provided for each problem in the textbook In addition, students are strongly encouraged to visit our Teaching Assistant for further assistance.
Course Study Outcomes After completing this course, students should be able to: (1) Understand the accounting concepts and procedures, and to apply them to the business world. (2) Develop skills and increase their ability to solve problems that they will need to succeed in a business environment. (3) Learn the technology that allows them access to numerous online materials relating the real world of accounting and business. (4) Learn how to study and manage their own tasks that will help them acquire further knowledge on their own.
CLASSROOM CONDUCT Mobile phones and pagers must be switched off, and no eating or drinking is allowed during class.
POLICY ON SCHOLASTIC DISHONESTY The Chinese University of Hong Kong places very high importance on honesty in academic work submitted by students, and adopts a policy of zero tolerance on cheating and plagiarism. Any related offence will lead to disciplinary action including termination of studies at the University. Attention is drawn to University policy and regulations on honesty in academic work, and to the disciplinary guidelines and procedures applicable to breaches of such policy and regulations. Details may be found at http://www.cuhk.edu.hk/policy/academichonesty/.
Detailed Course Syllabuses Chapter Remarks 1 To prepare a complete Statement of Cash Flow is not required in ACCT 2111
3 Exclude Appendix: pp. 117 120
4 Exclude Using a Work Sheet: pp. 144 150; Exclude Appendix: Reversing Entries: pp. 171 173; Depreciation details are deferred to Ch. 10
5 Exclude Appendix 5B: pp. 222-224
8 Exclude Internal Control: pp. 340 347; Exclude Cash Controls: pp. 347 352
10 Exclude Appendix pp.452 454
11 Exclude Taxes payable: pp.476 478; Exclude Bonds: pp. 483 492, Exclude Appendix 11A, 11B and 11C; pp.500 513