Financial Accounting
Peking University HSBC Business School
SYLLABUS
Instructor: Dr. Naqiong Tong, Ph.D., CPA
Room 746
          (O): 2603-2535
            nqtong@phbs.pku.edu.cn
 
Class Hours:  1:30-3:30 pm
Monday/Thursday
Class Room:  229
Office Hours: M/TH3:30-5:00pm or by appointment
 
Teaching Assistant: Wu Sang  
1301213912@sz.pku.edu.cn
 
Course Objectives:  
The general objectives of Financial Accounting are to provide the student with an understanding of:
(1)   The preparation of financial statements for users external to the firm.
(2)  The concepts and standards underlying the accounting procedures used to measure business performance.
(3)  The use of accounting information for business decisions and as a basic language of business.
(4)  Understand financial statement and analyze firm performance.
(5)  Team work collaboration and competition.
 
As accounting is the language of business, the skill of understanding financial statement is essential for managers, economist, financial analysts and others.
 
How to Succeed in This Class:
There is a considerable amount of material covered in this course.  To do well in this course it is essential that you: (1) attend class regularly, (2) complete assignments, and (3) do not fall behind. To understand accounting theories and applications, it is critical that you struggle with the details of assigned problems.  It is essential that you stay current with all readings and assignments.
 
Course Materials:
Required textbook: Financial Accounting, Weygandt, Kieso, and Kimmel, 6th ed., John Wiley & Sons, Inc.
ISBN：978-0-470-12884-8
 
Online Website: cms.pkusz.edu.cn
Course Syllabus and Slides can be found. Please print out slides before each class starts.
 
Grades: 
Grades will be based on the following weights:
Attendance and Participation 5%
Homework                   25%
Group Project               5%
Exam I                                  20%
Exam II                                  20%
Final Exam                                 25%
Total                               100%
 
 
Requirement Descriptions and Directions:
 
1. Attendance and Participation (5%)
Because of the complexity of the material and pace of the class, it is imperative that you attend every class. Laptop and cell phone use are not allowed in the classroom. If you have to miss a class, please notify me in advance through email, call or your classmates. If a class has to be canceled due to an emergency, I will attempt to notify you by e-mail or phone. If you miss a class it is your responsibility to keep yourself apprised of what occurred during your absence.
 
2. Homework Assignments (25%)
The homework assignments will emphasize the comprehension of these principles and concepts, problem solving, and applications to business situations. Each homework is due before the class start review and if the assignment is handed late than the due date, then it is not graded, hence no points. Each assignment will be given maximum 2 points of the total course grade. For the rest 1 point, the requirement is to copy down Pepisco’s financial statements-Appendix A4-A7 (B/S, I/S, S/CF and S/SE) line by line in writing.
 
3. Examinations (20%, 20% and 25%)
Three exams will be tested in this course. Exam 1 covers chapter 1-5. Exam 2 covers Chapters 6-10 (no Ch.8) and Final is cumulative covering chapters 1-13 (no Ch.8). The format of the three exams is Multiple Choice Questions. Exam 1 and 2 have 50 MCQs in each exam while Final exam has 70 MCQs.
 
4. Group Project (5%)
A group project should be handed in at the end of semester (Deadline: 11-7-2014). Six students will form a group (you can select by yourself). The project should compare the similarities and differences in China’s accounting methods (IFRS) with the US GAAP, focusing on three areas (you can select three chapters in the textbook from Chapter 5 to Chapter 13 and discuss areas that are similar and different in IFRS and US GAAP.) The project should have at least 8 pages (each chapter covers 2 pages with one page of introduction and one page of conclusion.)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Class Schedule and Homework Assignments

Date	Topic	Assignment
9-1	Accounting in Action!/Syllabus Discussion
9-4	1.  Accounting in Action!	P1-3A P1-4A Copy down F.S. of Pepsico Appendix A4-A7
	The Recording Process
9-11	The Recording Process	P2-2A
	Adjusting the Accounts *  skip appendix on alternative treatments
9-15	Adjusting the Accounts	P3-5A
	4.  Completion of the Accounting Cycle *  skip appendix on reversing entries
9-18	4.  Completion of the Accounting Cycle	P4-1A
	5.  Accounting for Merchandising Operations *  skip appendix 5A and Appendix 5B
9-22	Accounting for Merchandising Operations	P5-2A
	6.  Inventories * skip appendix 6A, read Appendix 6B
9-25	6.  Inventories and First Exam Review
9-29	Midterm #1 in class –Ch 01-05	P6-7A
10-9	7.  Accounting Principles
10-13	7.  Accounting Principles	BE7-4 BE7-5 E7-3 E7-7 P7-3A
	9.  Accounting for Receivables
10-16	9.  Accounting for Receivables	P9-1A P9-2A
	10. Plant Assets, Natural Resources, & Intangibles *  skip appendix on exchanges of plant assets
10-20	10. Plant Assets, Natural Resources, & Intangibles   and Second Exam Review	E10-2 P10-3A P10-6A
10-23	Midterm 2 Chapters 6-10
10-27	11.  Current & Long-term Liabilities *   Do Appendix 11C on Straight-line Amortization **  skip Appendices 11A & 11B
10-30	11.  Current & Long-term Liabilities	P11-1A P11-4A
	12. Accounting for Stockholders' Equity
10-31	12. Accounting for Stockholders' Equity	P12-1Aa P12-2Aa P12-4Aa
	13. Accounting for Investments    *  skip appendix on Consolidated F/S
11-3	13. Accounting for Investments	P13-1A P13-4A
	14. Cash Flow Statement
11-7 (Friday)	Final Exam