Intermediate Financial Accounting I
(ACCT2012)
Dr. Nafis RAHMAN
Assistant Professor of Accounting
School of Business
The University of Hong Kong
Second Semester, 2022-2023
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Introduction
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Dr. Nafis Rahman
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Academic background
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PhD in accounting: The University of British Columbia, Canada
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MS in Financial Management: Pace University, USA
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BA in Accounting: Ohio Wesleyan University, USA
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Working experience
Assistant professor, The University of Hong Kong
2016- present
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Research Interests: Capital Market, Accounting Restatement, Investor Home Bias,
Analyst Report, Corporate Social Responsibility.
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Contact information
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Office: Room 1318, K.K.Leung Building
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Email: nnrahman@hku.hk; Phone: 3917-4222
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Office hours:
Fridays, 10:00 a.m. – 11:30 a.m. & 3:30 p.m. – 5:00 p.m.
You should make an appointment ahead of time for meetings
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Tutor
■Mr. Cliff Kong
■Contact information
Office: Room 609, K.K.Leung Building
Email: ktycliff@hku.hk
Phone: 3917-0021
■ Consultation hour: Wednesdays, 12:30-1:20pm (must make an appointment)
TEXTBOOK AND READING MATERIALS
TEXTBOOK:
Intermediate Accounting (2nd Global Edition).
Authors: J. Spiceland; J. Sepe; M. Nelson; P. Tan; B. Low; and K. Low.
Publisher: McGraw-Hill
ISBN: 9789813153417
LECTURE NOTES can be downloaded from the MOODLE.
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Textbook
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Course description
 Background requirement: Course of Introduction to Financial Accounting (ACCT1101)
 The first course of a series of two intermediate financial
accounting subjects.
 It builds on the foundation laid in the Introductory Financial
Accounting course to better equip students with the required
techniques in preparing and interpreting financial statements.
 It reviews the fundamental financial accounting concepts and
focuses on the detailed recording and reporting of important
items. It also examines the conceptual framework of accounting
and financial statement presentation.
 This course is a required course for Advanced Financial Accounting
courses.
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Course objective
1. Provide students with the fundamental concepts
and techniques in financial reporting.
2. Enable students to integrate and apply their
knowledge in decision-making scenarios.
3. Develop students’ understanding of the ethical
issues in accounting regimes.
4. Inculcate students’ professionalism.
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Class assessment
Components in this course
Weights
Attendance, assignments and in-class participation
Group project (case report and in-class presentation)
5%
30%
10%
Final examination
55%
Mid-term test
Total:
100%
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Attendance, assignments & participation (5%)
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Homework assignments
 Weekly homework will be disclosed on Moodle;
 Tutorial discussion questions will also be disclosed on Moodle;
 Graded by Cliff, counted by completion.
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Attendance & Participation in Tutorials
 Attendance to tutorial sessions;
 Encouraged in-class participation.
-- Ask or answer questions in the lectures;
-- Participate in discussions during in-class presentations;
-- Attend the regular lectures on Tuesdays and Friday;
You can also interact with me over the online course forum in Moodle. I will show
you how to use the forum in our first class.
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Mid-term Test (30%)
 Mid-term Exam Date : Monday, March 13, 2023.
 Mid-Term Exam Time : 7:00pm – 8:30pm (1 hour and 30 minutes)
Mid-term Exam Venues: RHT & KKLG102
 No make-up test
 Please reserve the priority of our course if there is any time-conflict with
other courses.
 If you miss the midterm because of a valid medical reason or a genuine timeconflict with another HKU course, then your midterm test’s weight will be
transferred to the final exam. But keep in mind that the midterm test is easier
than the final exam. So, it is the smarter strategy to sit for the midterm test.
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Group project (10%)
 Guidance
 5 to 7 persons/team;
 Time line for presentation
 One team leader (contact person);
 February 17: finalize your
team;
 All members of the group must be from the same
sub-class, since you will present your case during
class. In a given sub-class, there will be between 9
to 10 groups.
 Cases will be available on MOODLE. Cases will
cover the materials we learned during the class.
Each group is responsible to present ONE case.
 Presentation: In-person
group presentation on
Tuesday, April 25
 Use the MOODLE page for group registration
(The Course TA will show you how to do it).
 Tips: Make sure to form groups early with students
you that you like. If you fail to get into your
preferred group by February 17, you will be
randomly assigned into a group (it can be
frustrating to work with people you do not know
well).
 All groups in your subclass will present on the
same day.
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Group Project: The Case Presentation
o The group presentation will contribute to 10% of your grade
o More details about the presentation will be explained after
February 17 (after you form groups)
o Relax. It will be an easy group exercise. . It should not
take you more than 10 hours to solve the problem and
practice what you will say during the presentation. This
means that if you have 5 members in your group, and you
divide the work evenly, then you will probably have to spend
only 2 hours per person.
o Presentation must NOT be more than 9 minutes long. You
should you use a presentation slide when talking. Your slides
will help you to speak on the topic. But NO NEED to send
your slides. I will grade you in real time.
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Final Exam (55%)
 Final Exam is conducted by the Exam Unit of the University. Final
Exam date and time will be determined centrally and announced later.
 Final exam is the most important component of your grade in this course.
MINIMUM REQUIREMENTS FOR PASSING GRADE:
Final exam: minimum 50 out of 100
AND
Overall total: minimum 50 out of 100
 This means that if you fail in the Final Exam, then you FAIL in the entire
course.
 The final exam will be cumulative, but it will mainly focus on the chapters
covered AFTER the midterm test.
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Class materials
 Detailed coverage (i.e., the page numbers of the
textbook) is stated in the course outline. Minor
adjustment is possible (if necessary) during this
semester, depending on the progress.
 Lecture slides will be available on Moodle. You should
attend all classes since I will go over the topics in more
detail and will solve exercises that are not in the Slides.
 The homework assignments will be posted on Moodle.
 Tutorial discussion questions will be posted on Moodle.
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Course coverage: Part I (before mid-term exam)
Chapter
Topic
Ch. 1
Conceptual framework
Coverage
(page no.)
19 – 31 (Part B)
Ch. 2
Time value of money (covered in tutorial sessions)
Financial disclosures
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62 – 72 (Part B)
Ch. 3
Comprehensive income
115 – 118
Profits from continuing operations and earnings quality
118 – 128
Discontinued operations
128 – 133 133 – 136
Accounting changes
Ch. 4
Ch. 5
Content and value of the Statement of Cash Flows (SCF)
178 – 194 (Part A)
Prepare the SCF (Direct method for operating activities)
195 – 218 (Part B)
Prepare the SCF (Indirect method for operating activities)
218 – 222 (Part C)
IFRS 15 & five-step framework
279 – 300
(Partial or full– Recognize revenue at a single point in time
may not cover the
Recognize revenue over a period of time (exclude ‘some
entire chapter
complexities’)
before Midterm)
300 – 308
309 – 330 (exclude 322
– 327)
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Course coverage: Part II (after mid-term exam)
Chapter
Ch. 5
Topic
IFRS 15 & five-step framework
Coverage
(page no.)
279 – 300
(Partial--the
Recognize revenue at a single point in time
remaining portion
Recognize revenue over a period of time (exclude ‘some
after mid-term
complexities’)
coverage, if any)
300 – 308
Ch. 6
Costs to be capitalized
(exclude asset retirement obligations)
372 – 379 (exclude
374 – 376)
Self-constructed assets (capitalization of borrowing cost)
391 – 397
Amortization of intangible assets
441 – 443
Subsequent changes in fair value
450 – 455
Impairment of value
463 – 474
IFRS 9 & debt investments
509 – 524
Equity investments under IFRS 9
524 – 535
Contingencies
611 – 630
Ch.7
Ch. 8
Ch. 9
309 – 330 (exclude
322 – 327)
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Tutorials
■ Instruction for the registration of tutorial sessions.
 Instruction file is posted on Moodle;
 Mr. Cliff KONG is available for any question;
 Limited number of seats for each tutorial slot;
■ Important information about 2023 tutorials.
 Tutorial session is different from Groups for final project; You
may or may not have discussion groups in tutorials;
 Registration period: Jan. 20 (8pm) to Jan.28 (5pm).
 First come, first served. Try to register early since your
preferred time may fill up quickly.
 Mondays (5 sessions) and Thursdays (2 sessions).
 Max. 25 students per tutorial; A total of 7 sessions.
 The first tutorial session will be held on Jan. 30th/ Feb 2nd
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Tutorial sessions
Tutorial 001: Mon 9:30 - 10:20
Tutorial 002: Mon 10:30 - 11:20
Tutorial 003: Mon 11:30 - 12:20
Tutorial 004: Mon 13:30 - 14:20
Tutorial 005: Mon 14:30 - 15:20
Tutorial 006: Thu 12:30 - 13:20
Tutorial 007: Thu 13:30 - 14:20
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Tutorials and homework
 Please see the instruction link on MOODLE about how
to sign up tutorial sections. (Important!)
 Please register the tutorial sessions as early as possible.
 You can download the homework assignments and
tutorial questions from MOODLE.
 You will submit the homework assignments via
submission links on Moodle.
 All assignments must be hand-written, and be scanned
as a PDF file for submission.
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Let’s Start!!
I hope you will enjoy this class and find it to be
beneficial for your academic, professional, and
personal growth
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