TQF 3
Course Syllabus
Name of the Institute
Faculty
Rangsit University
Accountancy, International College
1. General Information
1. Course ID and Course title
IAC 152 Principles of Financial Accounting II
2. Credit units (Number of hours per week for lecture, assignment, and self-study)
3 Credits (2-2-5)
3. Programme and Categorization of course
This subject is a course of Bachelor of International Accounting
4. Responsible faculty member and list of instructors
Ms. Pimjai Weerasuttakorn Head of International Accounting Program
5. Term/Year
Semester 2-2014 / 1st -2 nd year
6. Pre-requisite) (If any)
None
7. Co-requisites (If any)
None
8. Place of study
Room 11-807 International College, Rangsit University
9:00-11:00 a.m.
9. Date of preparation or latest update
5 January 2015
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TQF 3
2. Learning Objectives and Development Objectives
1. Goals of the unit
The students will be able to learn and understand about IFRS-based accounting for
manufacturing business; statement of cash flows and statements of change in equity; cash
control and petty cash; bank reconciliation; voucher system; accounting for payroll and
owners’ equity.
2. Objectives of the unit and improvement
1. Understanding IFRS-based accounting for manufacturing business; statement of cash
flows and statements of change in equity; cash control and petty cash; bank
reconciliation; voucher system; accounting for payroll and owners’ equity.
2. Understanding how to prepare statement of cash flows and statements of change in
equity.
3. Developing basic IFRS-based accounting skills for preparing accounting records
especially for fundamental transactions of business entities.
4. Understanding how to apply IFRS-based basic accounting principles to prepare
financial statements.
5. Analyzing IFRS-based financial statements.
3. Course Content and Activities
1. Course content
IFRS-based accounting for manufacturing business; statement of cash flows and
statements of change in equity; cash control and petty cash; bank reconciliation; voucher
system; accounting for payroll and owners’ equity.
2. Number of hours used per semester
Lecture
Tutorial
Lecture 45 hours per
semester
Upon requested
Practice/Field
job/Internship
Homework,
assignment,
presentation
Personal Study
5 hours per week
3. Number of hours per week for advising and academic counseling for individual
students
- Students can request for academic advices prior/after classes or in class hours.
- Students can make appointment or stop by at the faculty members’ offices during the
specified office hours (15 hours per week).
- Students can request academic help through the Department or emails of faculty members.
- Students can contact instructor by email, phone, Facebook on emergency event.
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4. Learning Outcomes
1.
2.
3.
Morals and ethics
The course aims to develop students to have morals, understand ethics and codes of
conducts in their real life. The students will be able to possess ethical, moral and
honest behavior academically and professionally.
1.1
Morals and ethics needed to develop
- The students will be developed to perform ethical and honest behavior to
comply with professional codes of conducts, rules and regulations of the
organizations and the society.
- The students need to have self-disciplinary and punctuality in attending the
class and submitting assignments.
- The students need to pay respect to other’s people’s rights and opinions.
1.2
Methodology
- Lecture and give case studies on IFRS-based accounting.
- Encourage students to express their opinions in class.
- Case study analysis on IFRS-based accounting and giving effective
presentations.
- Check attendance and apply the classroom policies.
1.3
Assessment
- Observing students behavior and manner in class.
- Evaluating case study analysis and presentation.
Knowledge
The students will be able to understand the fundamental concept of IFRS-based
accounting for manufacturing business; statement of cash flows and statement of
change in equity; cash control and petty cash; bank reconciliation; voucher system;
accounting for payroll and owners’ equity. They also will be able to apply what they
learned into the real world situation.
2.1
Expected knowledge to be gained
The students will be able to:
- Obtain a sound foundation on IFRS-based accounting.
- Learn basic IFRS-based financial statement preparation.
- Understand the basic IFRS-based accounting including measurement and
recognition, derecognition, presentation and disclosure.
2.2
Methodology
Lecture and give case studies on how to effectively improve and expand one’s
IFRS-based accounting skills so that students can apply knowledge in the real
world situation.
2.3
Assessment
- Examinations on theories and application related to IFRS-based
accounting.
- Homework, quizzes and examinations on contents from time to time.
- Evaluating case study analysis and presentation.
- Check class attendance.
Intellectual Skills
The students will be able to critically and logically analyze IFRS concepts and ideas in
problem solving and decision making and also utilize theoretical knowledge to record
basic accounting transaction and to prepare financial statements.
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3.1
4.
Intellectual skills needed to develop
The students will be able to:
- Critically and logically analyze IFRS concepts and ideas in problem
solving and decision making.
- Successfully find solutions to record basic accounting transactions and
decision making related to business entities.
- Have innovative and initiative ideas in utilizing theoretical knowledge to
record basic accounting transactions and prepare financial statements.
- Solve the problems intellectually and professionally.
- Analyze and predict the expected outcomes from decision making,
problems solving.
- Initiate and develop systematic, effective, efficient working process with
respect to the real world situation.
3.2
Methodology
- Lecture and give case studies on IFRS-based accounting; how to record
basic accounting transactions and prepare financial statements build one’s
analyzing skills.
- Encourage students to express their opinions in class.
- Case study analysis on adjusting entries and preparing financial statements.
- Check attendance and apply the classroom policies.
3.3
Assessment
- Observing students behavior and manner in class.
- Evaluating case study analysis and presentation.
Interpersonal skills and responsibility
The students will be able to cope with changing environmental issues and
continuously engage in self and professional development.
4.1
Interpersonal skills and responsibility needed to develop
The students will be able to:
- Identify the cause of problems and develop effective action plans for
personal and business solutions under IFRS-based concepts.
- Open and willing to learn and reasonably accept criticism.
- Work as a team to analyze IFRS-based accounting.
- Have responsibility in the homework and assigned term paper.
- Possess ability of being a good leader and a good follower and solving
problems based on their priority in the assigned term paper.
- Contribute in making effective solutions to group problems in the assigned
term paper.
4.2
Methodology
- Homework and quizzes from time to time.
- Case study analysis on IFRS-based accounting and presentation to the
class.
- Discuss basic accounting transaction and prepare financial statements.
4.3
Assessment
- Examinations on theories and application related to IFRS concepts and
measurement of IFRS-based ideas.
- Homework, quizzes and examinations on contents from time to time.
- Evaluating case study analysis and presentation.
- Check class attendance.
4
5.
Quantitative skills, communication skills, and Information Technology skills
- The students will be able to possess ability in acquiring and analyzing
information in making personal and business decisions on mathematical issues.
- The course also develops quantitative analysis skills and Information
Technology skills to facilitate an IFRS-based study.
5.1
Quantitative skills, communication skills, and Information Technology
skills
The students will be able to:
- Possess and able to apply appropriate IFRS-based accounting skills and
techniques to solve business entity problems.
- Possess ability in acquiring and analyzing information in making business
entity and global decisions.
- Possess ability in summarizing, communicating and presenting information
effectively.
- Possess discretion in the use of communication and information in an
appropriate manner.
5.2
Methodology
- Self-study in IFRS-based accounting and decision making related to
business entity and global problems from the website.
- Assign group assignments and discuss article on basic accounting
transaction and current global news.
5.3
Assessment
- Examinations on theories and application related to IFRS concepts and
measurement of IFRS-based ideas.
- Homework, quizzes and examinations on contents from time to time.
- Evaluating case study analysis and presentation.
- Check class attendance.
5
TQF 3
5. Course Planning and Assessment
1. Course Planning
Week
Topics/Details
Hours
Activities and
Medias
Quiz
Lecture and
Discussion using
PowerPoint Slides
Case Studies,
Exercises and SelfStudy Questions
Lecturer
1
Accounting in Action
- What is Accounting?
- The Building Blocks of
Accounting
- The Basic Accounting
Equation
- Financial Statements
3
2
The Recording Process
3
Quiz
Lecture and
Discussion using
PowerPoint Slides
Case Studies,
Exercises and SelfStudy Questions
Ajarn Pimjai
Weerasuttakorn
3
Adjusting the Accounts
Completing the Accounting
Cycle
3
Quiz
Lecture and
Discussion using
PowerPoint Slides
Case Studies,
Exercises and SelfStudy Questions
Ajarn Pimjai
Weerasuttakorn
4
Liabilities
- Section 1 Current Liabilities
3
Quiz
Lecture and
Discussion using
PowerPoint Slides
Case Studies,
Exercises and SelfStudy Questions
Ajarn Pimjai
Weerasuttakorn
5
Liabilities
Section 2 Long-Term Liabilities
- Bond Basics
- Accounting for Bond Issues
- Accounting for Bond
Retirements
3
Quiz
Lecture and
Discussion using
PowerPoint Slides
Case Studies,
Exercises and SelfStudy Questions
Ajarn Pimjai
Weerasuttakorn
Ajarn Pimjai
Weerasuttakorn
6
Week
Topics/Details
Hours
6
Liabilities
Section 2 Long-Term Liabilities
- Accounting for Long-Term
Notes Payable
- Statement Presentation and
Analysis
7
Liabilities
Section 2 Long-Term Liabilities
- Present Value Concepts
Related to Bond Pricing
- Effective Interest Method of
Bond Amortization
3
Quiz
Lecture and
Discussion using
PowerPoint Slides
Case Studies,
Exercises and SelfStudy Questions
Ajarn Pimjai
Weerasuttakorn
8
Corporations: Organization,
Stock Transactions, Dividends
and Retained Earnings
Section 1 The Corporate
Organization and Stock
Transactions
3
Quiz
Lecture and
Discussion using
PowerPoint Slides
Case Studies,
Exercises and SelfStudy Questions
Ajarn Pimjai
Weerasuttakorn
9
Corporations: Organization,
Stock Transactions, Dividends
and Retained Earnings
Section 2 Dividends
Quiz
Lecture and
Discussion using
PowerPoint Slides
Case Studies,
Exercises and SelfStudy Questions
Ajarn Pimjai
Weerasuttakorn
10
Corporations: Organization,
Stock Transactions, Dividends
and Retained Earnings
Section 3 Retained Earnings
Quiz
Lecture and
Discussion using
PowerPoint Slides
Case Studies,
Exercises and SelfStudy Questions
Ajarn Pimjai
Weerasuttakorn
3
Activities and
Medias
Quiz
Lecture and
Discussion using
PowerPoint Slides
Case Studies,
Exercises and SelfStudy Questions
Lecturer
Ajarn Pimjai
Weerasuttakorn
7
Week
Topics/Details
Hours Activities and
Medias
3
Quiz
Lecture and
Discussion using
PowerPoint Slides
Case Studies,
Exercises and SelfStudy Questions
Lecturer
11
Investments
Ajarn Pimjai
Weerasuttakorn
12
Statement of Cash Flows
3
Quiz
Lecture and
Discussion using
PowerPoint Slides
Case Studies,
Exercises and SelfStudy Questions
Ajarn Pimjai
Weerasuttakorn
13
Financial Statement Analysis
- Basics of Financial Statement
Analysis
- Horizontal Analysis
- Vertical Analysis
- Ratio Analysis
3
Quiz
Lecture and
Discussion using
PowerPoint Slides
Case Studies,
Exercises and SelfStudy Questions
Ajarn Pimjai
Weerasuttakorn
14
Financial Statement Analysis
- Earning Power and Irregular
Items
- Quality of Earnings
3
Quiz
Lecture and
Discussion using
PowerPoint Slides
Case Studies,
Exercises and SelfStudy Questions
Ajarn Pimjai
Weerasuttakorn
15
Review for Final Examination
3
Quiz
Lecture and
Discussion using
PowerPoint Slides
Case Studies,
Exercises and SelfStudy Questions
Ajarn Pimjai
Weerasuttakorn
8
TQF 3
2. Assessment
Activities
Learning
Evaluations
outcomes
1
1.1,1.6,1.7,2.1, Test 1
2.4-2.6,3.2
Midterm Examination
Test 2
Final Examination
2
1.1,1.6,1.7,2.1, Case studies, research, and
2.4-2.6,3.2,
assignments
4.1,5.3-5.4
3
1.1-1.7,3.1
Attendance, class
participations and sharing
and Q&A during the
classes
Week
4
8
12
16
Throughout the
semester
Throughout the
semester
Proportion of
the Evaluation
5%
35%
5%
50%
5%
6. Course Resources
1. Required text books and readings
Weygandt, Jerry J., Kimmel, Paul.D., Kieso, Donald.E., Financial Accounting 2010 IFRS Update
ISBN 978-0-470-623275. Wiley.
2. Supplementary reading list/references
Journal of Accounting Professions
Journal of Accounting Research
Journal of Accounting and Economics
The Accounting Review
Contemporary Accounting Research
3. Recommended reading list/references
- Website WileyPLUS at www.wileyplus.com/experience
- The Securities and Exchange Commission website at www.sec.or.th
- The Stock Exchange of Thailand website at www.set.or.th
- The International Federation of Accountants website at www.ifac.org
- IFRS foundation website at www.ifrs.org
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TQF 3
7. Course Feedback and Improvement
1.
2.
3.
4.
5.
Course evaluation by students
- Discussion with students
- End-semester questionnaire
- Class evaluation/peer evaluation
- Questioning and answering session in class
Other methods of course evaluation
- Discussion with other faculty member and staff
Course development and improvement
- Course workshop and meeting
- Course mentor
- Class observation
- Knowledge sharing
Quality assurance of the course
- Internal committees
- External committees
- Internal quality assurance
- External quality assurance
Course revision and development plan
- Major revision every 5 years
- Minor revision where appropriate
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