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ACCT101 Financial Accounting AY2014/2015 Term 2 Jae Bum KIM (G10 G12)
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In addition, students will also develop their versatility [LG2], individual competencies [LG3] and
awareness of ethics and responsibilities [LG4] through the various class and assessment activities:
Analytical Skills: Analytical skills will be developed through various problem solving, case
discussions and analysis. The course will provide the tools for students to use and analyse
accounting data and financial reports to make informed decisions.
Communication Skills: Students will be required to actively participate in the class discussions and
through written report and discussion of the company analysis project. The written report and
presentation (in Session 12) will be assessed on clarity of communication appropriate for a business
context.
Team work: Team projects, discussions and presentations will be important elements of the course.
All students will be required to work in teams, which will be randomly assigned by Week 3 of the
term. They are expected to work as partners and share the work load.
Active learning: Students will be expected to venture beyond prescribed readings and text. The
company analysis project will allow students to take an active role in their understanding of how the
end products of an accounting system serve information need of users.
Professional ethics: Ethical issues are discussed and cases will be reviewed. This introductory
course provides the opportunity to emphasize the needs for the highest ethical behaviour for
corporate executives and corporations.
E. Learning Approach
The pedagogical approach to this course consists of three interlocking elements:
Instructor-facilitated Learning: Facilitation, Clarification, Synthesis
Individual Learning: Preparation, Analysis, Action
Collaborative Learning: Teamwork, Discussion, Sharing
Learning activities are planned to take into account these three elements of learning. Both the technical
learning and skills objectives will be developed through a blend of theory and practice. An
understanding of basic accounting knowledge on major elements of financial statements is a prerequisite
for any future studies of accounting. Thus, each topic will start with a session on basic technical
knowledge, followed by a practical session, using exercises, discussions, case analysis, and other class
materials to enforce students understanding of the topic.
Theories are what you learn in textbooks, the methodological, structured and systematic study of a
discipline. The Harrison and Horngren textbook helps you learn, understand and practice concepts
and theories in financial accounting. You also have access to various e-learning materials (Financial
Accounting Learning Objects, FALO for short) in your learning management system (called e-learn
at https://elearn.smu.edu.sg/).
Cases are examples that we bring in to class to introduce the relevance of theories and concepts in
actual accounting practices. The casebook (see below) is a collection of case materials (typically
extracts of various annual reports and other readings) to help us appreciate the real-world importance
of the theories and concepts you read. It also highlights that textbook only covers so little you really
need to know about the world.
The role of the instructor is to facilitate, provide clarification of critical concepts, not to read out pages of
the textbook to you. Often, it is important to be able to see the trees from the forests and synthesise on
why certain things matters are just as important as how specific processes/procedures are performed.
Students are reminded that their individual contribution to learning starts before class. Students should
prepare by pre-reading, analysing the materials/tasks/cases to be covered before coming to class and
actively participate in class discussions. Preparation is the prerequisite for analysis which will allow you
to take action in your individual learning.
Collaborative learning elements are developed through your contribution to your classmates learning
experiences, either through teamwork in tackling your project or other assigned tasks, and being willing
to contribute to class discussions and share your findings and work so others will benefit. Naturally, your
individual preparation, analysis and action will determine how much you are able to contribute to
collaborative learning.
ACCT101 Financial Accounting AY2014/2015 Term 2 Jae Bum KIM (G10 G12)
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Weight
10%
A+
A
A-
>=86 %
83-85%
80-82%
77-79%
74-76%
25%
B+
B
15%
BC+
70-73%
66-69%
C
C-
63-65%
60-62%
D+
D
F
53-59%
50-52%
<=49%
50%
Sum
100%
ACCT101 Financial Accounting AY2014/2015 Term 2 Jae Bum KIM (G10 G12)
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1. Class Activities
Homework (5%)
Assigned homework must be submitted before class starts and must be hand-written. Any
printed copy will not be accepted.
The purpose of the homework problem solving is to motivate your self-study before the class.
Thus, relatively easy homework questions are assigned. However, you are expected to study
class materials before the class and try to solve these homework problems for yourself.
To answer all the questions correctly will be challenging. Therefore, grading homework is
based on your efforts, not on correctness. When reasonable amount of efforts are thought to
be exerted, two points will be given. One point will be given to the homework which shows
obviously minimal efforts (jotting down several lines). Zero point for no submission.
There are suggested problems in each class as well. Solving both homework problems and the
suggested problems is essential for the students to perform well in the examination and the quiz.
The solutions to homework and suggested problems will be ready on course website after the
collection of homework.
Participation (5%) and Class Behavior
A part of the course grade would be allocated to class participation and discipline. You will get
participation points by providing constructive feedbacks.
Maintain proper discipline and conduct yourself in a responsible manner.
Students are encouraged to raise questions and to participate in the class (e.g., suggestions,
comments, etc).
There are several specific behavioural codes for this class: 1) Absolutely NO CELLPHONE
(including SMS), 2) Prudent use of notebook computer (you may use notebook computer only
for class related purpose), 3) Obtain permission from the professor for absence of the class in
advance.
2. Progress Assessment
Quizzes (25%): Regular quizzes will be given in class. There will be a total of 5 quizzes. Each quiz
typically takes 30 minutes and has 30 maximum points. Your lowest score from the 5 quizzes will be
dropped in the final grade.
3. Assignments
Group Case Work (5%)
Students will be assigned into groups (of 4-5 members) and asked to discuss, solve cases, and
submit a group report. There are 5 cases in total.
The purpose of the group exercise is not just to test your knowledge, but to improve your ability
to discuss accounting subjects, deliver your opinions, and work together in a group.
You are required to read the assigned article before coming to class, analyze problems,
synthesize and properly structure arguments. In class, we will have a short group discussion and
an open discussion in which you are expected to actively participate. For each case, I will also
provide you with a list of questions that you should examine before coming to class.
Each group (not individual students) has to write a two-page report of each case based on the
group discussion and class discussion. A group report should be typed, 1.5 line spaced, and
based on 12 point font size. Your report should not be just a bullet point list of answers. It
must show a coherent flow and exhibit a cohesive examination of the case.
Students are expected to work in a group and it is important to participate in the group works
equally. To prevent free-riders, the scores will be adjusted based on peer evaluation within each
group.
The due time for submission of the case report is one week after a case is discussed in class.
Refer to the Annex 1 for the deadline of each case work. Late submission will not be
accepted.
Group project (10%): There is a term group project report.
information.
ACCT101 Financial Accounting AY2014/2015 Term 2 Jae Bum KIM (G10 G12)
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ACCT101 Financial Accounting AY2014/2015 Term 2 Jae Bum KIM (G10 G12)
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1
1/5
1/11
Topic
2
1/12
1/18
Introduction and
Ch.1. Conceptual Framework and Financial
Statements
Ch.2. Recording Business Transactions
Ch.2. Recording Business Transactions
(Remainder)
Ch.3. Accrual Accounting & Income
3
1/19
1/25
Homework
Assignments
(to be handed up)
Suggested Problems
(for your own practice)
E1-17A, 18A, 24A,
25A, 26A,
P1-58A, 59A, 61A
S2-3, 5, 7, 9,12
Quiz 1
Ch.3. Accrual Accounting & Income
(Remainder)
S3-1, 3, 10, 11
4
1/26
2/1
S4-7, 8, 12
5
2/1
2/8
Quiz 2
Ch5. Internal Control, Cash, and Receivables
Ch.6. Inventory and Merchandizing Operations
S5- 6, 7, 10, 12
Case write-up
(Case #1)
6
2/9
2/15
S6-4, 5, 7, 12
P6-61A, 64A
7
2/16
2/22
Quiz 3
Ch.7. PPE and Intangibles (Remainder)
Ch.9 Liabilities (including Appendix B and
excluding Lease and Pensions)
S7-4, 5, 6
E7-15A, 22A,
P7-62A, 64A, 67A
Case write-up
(Case #2)
S9- 1, 2, 6, 8
10
3/9
3/15
Quiz 4
Ch.10. Shareholders Equity
S10- 5, 6, 10
11
3/16
3/22
12
3/23
3/29
13
3/30
4/5
14
4/6
4/12
Case write-up
(Case#3)
S11- 6, 7, 8
S11- 9, 10, 11
Case write-up
(Case#4)
S12- 6, 7, 8
Case write-up
(Case#5)
N.A.
N.A.
E12-18A, 21A,
P12- 52A, 53A,55A
Final Exam
Saturday, 18 November 2015 from 1:00PM to 4:00PM
Venues will be announced later.
ACCT101 Financial Accounting AY2014/2015 Term 2 Jae Bum KIM (G10 G12)
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3. Company Selection
Each group must select a company from the list which will be provided later.
4. Format
Ten pages maximum Your report should include supporting analyses as appendices to the ten
pages. The cover page is not counted in the page number. The latest available Annual Report used
in the analysis must be appended. Your data should cover at least two years of latest annual
reports.
Typed, 1.5 line spaced, 12 point font size.
5. Content
The final report must include (i) a cover page, (ii) executive summary, (iii) analysis, and (iv)
conclusion.
You are required to address all questions with (*) listed below. Feel free to address other listed
questions in your report. Workings, if any, must be shown. You may use other sources of information
(e.g. companys website, press release, newspaper clippings, etc) but they must be properly sourced and
noted.
Your report should not be just a bullet point list of answers. It must show a coherent flow and exhibit
a cohesive examination of the company. You must discuss the subject firms profitability (including
quality and persistence of earnings), effectiveness of asset utilization, debt servicing (liquidity,
risk assessment), cash flows management, and overall performance where they are applicable.
ACCT101 Financial Accounting AY2014/2015 Term 2 Jae Bum KIM (G10 G12)
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(8) Miscellaneous
(*) What non-financial information disclosed in the annual report that you find most useful and
relevant?
6. Useful references
ACCT101 Financial Accounting AY2014/2015 Term 2 Jae Bum KIM (G10 G12)
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