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Course 2019-2020 a.y.

30336 - ACCOUNTING AND FINANCIAL STATEMENT ANALYSIS

BIG
Department of Accounting

Course taught in English

Go to class group/s: 23

BIG (6 credits - II sem. - OB  |  SECS-P/07)
Course Director:
XIAOXI WU

Classes: 23 (II sem.)
Instructors:
Class 23: XIAOXI WU


Suggested background knowledge

At the beginning of the course, students are not expected to have any knowledge on the double-entry accounting system. Students are expected to be familiar with the notions of a Management course.


Mission & Content Summary
MISSION

Accounting is the language of business, an important means of communication among business parties. Among others, financial accounting speaks mainly to external information users, such as investors and financial analysts, who make decisions for many different purposes using the accounting information disclosed in financial statements. This course aims to provide students with an understanding of the double-entry booking system and their applications in main transactions, and the key accounting concepts and principles according to which financial statements are prepared.

CONTENT SUMMARY
  • General accounting: the double-entry accounting system.
  • Financial accounting transactions and preparation of financial statements (accounting for owner's equity; cash flow statement preparation).

Intended Learning Outcomes (ILO)
KNOWLEDGE AND UNDERSTANDING
At the end of the course student will be able to...
  • Identify the critical elements underlying the application of the double-entry accounting system.
  • Gain knowledge and skills in respect of preparing and understanding financial statements.
  • Understand and replicate an elementary individual financial statement.
  • Explain the accounting principles underlying financial statements preparation.
APPLYING KNOWLEDGE AND UNDERSTANDING
At the end of the course student will be able to...
  • Understand the basic accounting concepts and measurements that underlie financial statements.
  • Apply the double entry system to report accounting transactions.
  • Analyze the accounting information presented in financial statements and apply effective analytic skills and tools to make business decisions.

Teaching methods
  • Face-to-face lectures
  • Exercises (exercises, database, software etc.)
  • Case studies /Incidents (traditional, online)
DETAILS
  • The learning experience is mainly based on face-to-face lectures, which are interactive.
  • Case studies are used during teaching to show students “the real world of business and accounts”.


Assessment methods
  Continuous assessment Partial exams General exam
  • Written individual exam (traditional/online)
  • x   x
  • Active class participation (virtual, attendance)
  • x   x
    ATTENDING STUDENTS
    • One final exam representing 50% of final grade. The exam includes closed-ended questions that aim to: assess whether the student is able to identify the critical elements underlying the application of the double-entry accounting system; check whether the student gained knowledge and skills in respect of preparing and understanding financial statements; assess if the student is able to replicate an elementary individual financial statement; and test the student’s ability of explaining the accounting principles underlying financial statements preparation. The exam also includes open-ended questions that aim to: evaluate the student’s knowledge on journal entries and financial statements; assess the student’s ability to use the “accounting equation” and double-entry accounting system; check whether the student is able to analyse, calculate and prepare journal entries (on items such as inventories, receivables, liabilities) according to core accounting principles; and test if the student is able to compose a set of financial statements based on basic transactions.
    • Attendance bonus representing 20% of final grade. Attendance of students is assessed through the “Attendance” procedure. To be considered “attending”, students are required to be present on more than 75% of the classes. An attendance registered as “late” is not valid.
    • Quizzes bonus representing 30% of final grade. During the course, two in-class short quizzes are given to students via Bboard. Each quiz represents 15% of the final grade. The quizzes consist of multiple choices and/or closed-ended questions. Each quiz lasts approximately 15 minutes and aims to continuously assess and monitor students’ participation and progress during the course.The release dates of the quizzes are: Quiz 1: the last session before the break for partial exams; Quiz 2: the last session of the course.
    NOT ATTENDING STUDENTS
    • One final exam representing 70% of final grade. The contents and aims of the exam are the same as for “attending students”.
    • Quizzes bonus representing 30% of final grade. The contents, aims and timing of the quizzes are the same as for “attending students”.

      Note: Not attending students can only get quizzes bonus by attending the whole lectures in which the quizzes are deployed and taking the quizzes in class.


    Teaching materials
    ATTENDING AND NOT ATTENDING STUDENTS

    LIBBY, LIBBY, HODGE, Financial Accounting, McGraw-Hill, International Edition, 2016, 10th edition.

    Last change 30/05/2019 09:35