THE CHINESE UNIVERSITY OF HONG KONG
School of Accountancy
ACCT 1111
Introductory Financial Accounting
Sections A, B and C
(First Term, 2015-2016)
LECTURER
Karen Li
Office:
Phone:
E-mail:
Blackboard:
Office hours:
Room 1037, 10/F, Cheng Yu Tung Building (CYT), 12 Chak Cheung Street, Shatin
3943 7639
karenli@cuhk.edu.hk
http://elearn.cuhk.edu.hk
Available most 11:30 am to 2:00 pm on Tuesday
TEACHING ASSISTANT
Katie Lam
Office:
Phone:
E-mail:
Office hour:
Room 1049, 10/F, Cheng Yu Tung Building (CYT); 12 Chak Cheung Street
3943 7644
lamk@baf.cuhk.edu.hk
Monday to Friday 9:30 am – 4:30 pm
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 basic financial accounting
concepts and principles, and discuss how to measure a company’s net income, assets, liabilities,
shareholders’ equity, and cash flows using International Financial Reporting Standards (IFRS).
REQUIRED TEXTBOOK
Harrison, Horngren, Thomas, Suwardy. Financial Accounting: International Financial Reporting Standards,
9th Edition. ISBN-13 978-0-273-77780-9
COURSE ASSESSMENT
Course grade will be based on the following elements:
Uniform Final Exam
Mid-term Exam
Group Assignment/Project (team work)
Homework (individual), Class Participation, etc.
Total
50%
25%
10%
15%
100%
Note:
Grades in this course will be based on a combination of absolute achievement of each individual student
and relative performance among all students.
FINAL EXAMINATION
A uniform closed-book comprehensive final examination will be given to all ACCT1111 and ACCT2111
students at the location and date assigned by the University. No individual make-up examination will be
offered.
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MID-TERM EXAMINATION
The Mid-Term Exam is scheduled to commence at 7:00 p.m. on October 19, 2015, Monday. Examination
site is CYT LT1.
NO individual make-up mid-term examination will be offered. If a student is absent from the mid-term
exam for a legitimate and adequately documented reason, the weight of the missed mid-term exam (25%)
will be reallocated to the final exam.
GROUP ASSIGNMENT – ANNUAL REPORT PROJECT
The objective of the group 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
between 2 and 5 students each. Each group is required to conduct online research on two specifically
selected publicly listed companies in Hong Kong or abroad. 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 systematically through the annual report to develop a critical
analysis to assess the financial health of the selected companies, including performing comparative analysis,
using horizontal and vertical analysis, and ratio analysis, etc.
Each group is required to submit its members’ names and student IDs on a hardcopy to the in-box for the
class on 2/F of Cheng Yu Tung Building (CYT) on or before October 23, 2015 Friday, before 4:00 p.m.
More information related to the case (case assignment instructions and annual reports of the two selected
companies) will be uploaded/provided after the mid-term exam. The due date of this group assignment is
December 4, 2015 Friday, before 4:00 p.m. No late group assignment will be accepted. Late or missing
assignment is subjected to point deduction. It is students’ responsibility to ensure that the hardcopy of this
case assignment is submitted on time and to the correct in-box for the class on 2/F of Cheng Yu Tung
Building (CYT).
Please include the signed (by all group members) declaration of originality on this group assignment.
Please refer to http://www.cuhk.edu.hk/policy/academichonesty/ section 10 for details.
Do NOT submit your report to VeriGuide.
HOMEWORK
Students are required to complete all assigned homework by themselves and submit them for grading. Due
date for each chapter’s assignment will be announced during class and posted on the Blackboard. Answer(s)
to homework problem(s) will be uploaded to the Blackboard afterward. You may check with our Teaching
Assistant (TA) whenever necessary to ensure your homework being received and graded accordingly.
No late homework will be accepted. Missing homework assignments are subject to point deductions.
Excuses such as just adding to the class, not having the textbook yet, putting assignment in the wrong in-box,
classmate/friend having forgotten to submit for me, feeling ill on the very due date, emailing softcopy instead,
etc. cannot justify the fact that proper submission of homework assignment fails. It is a student’s
responsibility to ensure that all homework is submitted on time and to the correct in-box for the class on 2/F
of Cheng Yu Tung Building (CYT). Students can have access to solution manual only after homework
assignments have been graded.
Each student must complete all assignments with his/her own effort. Copying other’s work is subject to point
deduction for all parties involved.
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SELF-STUDY
About learning accounting, self-study is as important as lectures. The minimum required study time outside
the classroom is on average six hours each week. Careful reading of the required textbook is a good way to
understand the course material. Students are encouraged to work on additional exercises and problems at the
end of each chapter. Students are strongly encouraged to visit our Teaching Assistant for further assistance
including access to solutions to chapter-end non-homework exercise questions after working on those
exercise questions.
Due to copyright issue, soft copy of the whole solution manual cannot be copied or scanned or uploaded or
emailed. The solution is only available inside the TA Room (Room 1049, 10/F, Cheng Yu Tung Building
(CYT).
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) Solve problems necessary to succeed in a business environment.
(3) Learn the technology that allows them access numerous online materials related to the business and
accounting world.
(4) Learn how to study and manage tasks that will help them acquire further knowledge on their own.
LEARNING ACTIVITIES
Lecture
(hr)
in / out class
3
0
Lab / tutorial
(hr)
in / out class
Project / Case
discussion (hr)
in / out class
0
0
0
1
Expected out-of-class
activities (hrs)
in / out class
0
6
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. See http://www.cuhk.edu.hk/policy/academichonesty/
for details.
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COURSE OUTLINE
Date
Topic
Sep 7 – Oct 2
1. Introduction and Financial Statements
1
Homework
Assignments
S1-14; E1-33B
2. Recording Business Transactions
2
E2-15A; E2-32B
3. Accrual Accounting
4. Internal Control, Cash, and Receivables
(Omit Fraud and Internal Control, pages 271–287)
5. Inventory and Merchandizing Operations
3
E3-20A; E3-28A
5
E5-23A; E5-44B
6
E6-15A; E6-17A
Oct 5 – 9
October 19
Monday
October 23
Friday
Oct 19 – 23
Chapter
Mid-Term Exam (7:00pm – 8:30pm, 1.5 hours, Chapters 1–3, 5 & 6)
Form Groups for Group Assignment; Submit group list (names & IDs) to in-box
6. PPE and Intangibles
Oct 26 – 30
7
E7-24A; E7-33B
Go over result of and solution to the mid-term exam
Nov 2 – 20
Nov 23 – 27
7. Liabilities
(Omit Bonds, pages 551-564 top and Capital Leases,
pages 566–568 top)
8. Shareholders’ Equity
9
E9-18A; E9-19A
10
E10-36B; E10-37B
9. Financial Statement Analysis
12
E12-27B; E12-32B
10. The Statement of Cash Flows
11
E11-29B; E11-34B
December 4
Friday
Group Assignment Due (before 4:00pm)
Comprehensive Final Exam (Date and Time to be Determined)
Note:
Please be reminded that there are some typos and errors found in the required textbook, so if
something doesn't look right, trust your judgment or ask.
Important Dates / Periods:
First term
7 September 2015 (Mon) – 5 December 2015 (Sat)
Add/Drop
14 September (Mon) – 25 September (Fri)
Class make-up
7 December (Mon) – 8 December (Tue)
Course examinations
9 December (Wed) – 23 December (Wed)
August
18
Tue
September
7
Mon
October
28
1
21
Mon
Thu
Wed
November
19
Thu
December
25-26
Thu-Fri
Course registration for 1st term courses for full-time undergraduates
(Year 2 students; 10:00 a.m. – 10:00 p.m.)
Inauguration Ceremony for Undergraduates (full-time undergraduate
classes suspended in the morning until 1:30 p.m.)
Public holiday – The day following the Chinese Mid-Autumn Festival
Public holiday – National Day
Public holiday – Chung Yeung Festival
78th Congregation for the Conferment of Bachelor’s Degrees and
Master’s Degrees (full-time undergraduate classes suspended)
Public holidays – Christmas Day and day after Christmas
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