Hong Kong Shue Yan University

Bachelor of Commerce (Hons) in Accounting

Course Title : Intermediate Financial Accounting I

Course Code : ACCT 201

Year of Study : 2

Number of Credits : 3

Duration in Weeks : 15

Contact Hours Per Week : 3

Pre-requisite(s) : ACCT101, ACCT102 Introductory Accounting I, II

Instructor : Dr. H. Lee
Office : RHB420, Research Complex
E-mail : ahlee@hksyu.edu

Course Aims
1. To develop students the understanding of the conceptual framework for financial
reporting and accounting concepts, standards, and theories related to valuation and
recognition of assets.
2. To develop students the skills to communicate with users on business activities
through the application of accounting procedures, standards, and techniques in the
preparation and analysis of financial statements.
3. To develop students the abilities to analyze accounting problems and integrate
accounting information for critical evaluation of financial position of business
organizations through the application of intermediate accounting knowledge.
4. To develop students the abilities to engage in independent and critical thinking,
communicate and work with others effectively through class participation and
teamwork, and make informed judgments for solving business and accounting
problems.

Course Intended Learning Outcomes (CILOs)

At the end of this course, students are expected to be able to:
1. Demonstrate an understanding of the conceptual framework and GAAP with an
emphasis on issues related to assets.
2. Prepare financial statements in compliance with statutory requirements and
accounting standards.
3. Integrate accounting information and evaluate the financial position of business
organizations to solve business and accounting problems.
4. Appraise business organizations using financial reports through integration of

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 independent and critical thinking, effective communication and teamwork, and
informed judgments for problem solving.

Teaching and Learning Activities

This is an intensive course and will employ various instructional methods including
lectures, readings, problem solving, class discussion, case study, and examination. The
medium of instruction for teaching, learning, and assessment is English. English
supplemented with Chinese may be used for learning activities, where appropriate.
TLA1 Lectures: In lectures, the instructor explains important concepts and examples
to facilitate students’ understanding of each topic. Punctuality in class
attendance is crucial and expected, because of technical difficulties of this
course. Students must read all lecture materials before attending class to
enhance learning effectiveness. In addition, this course demands a considerable
amount of time and effort on self-study. Thorough study of suggested readings
and diligent practice of problem sets on your own are indispensible to achieve
a satisfactory learning outcome.
TLA2 Tutorials: To the extent that time permits, some of the problems and cases
will be practiced and discussed during the tutorial session. To receive the
greatest benefits from this course, you are strongly encouraged to present your
practice results and participate in class discussions.
TLA3 Outside classroom consultation: You are welcomed to contact with me if you
have any questions on the class material, or any other problems you may need
help. Additionally, you are strongly encouraged to discuss with me your
suggestions or seek my advice on studying anytime throughout the course.
Comments and feedback to the instructor are appreciated.
Assessment Tasks / Activities
Continuous Assessment
Assignments 10%
Class Participation 10%
Test 20%
Examination
Final Examination 60%
Total 100%
Note: According to the university rule, students must pass the final examination to
pass the course.
AT1 Assignments: In addition to individual assignment(s), students are organized
in small groups to hand in group assignments on due dates, which are done on
computer. The grades in the group assignments will be based on the
assignments and peer evaluation. Without legitimate reasons, late submission
of assignments will not be accepted. The feedback of assignments will be
provided within one month of the due date of assignment, where applicable. Be

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 advised to do suggested problems before doing the assignments, as some
assignments may be difficult questions. Students are not expected to free ride;
any free riding may result in zero mark.
AT2 Class Participation: Students’ active participation in class is strongly
encouraged and expected. The mark will be based on the quality of your
participation in group exercises and in class discussions. Be advised that
students are expected to attend all classes on time and bring only hard copy of
the handouts to facilitate effective learning.
AT3 Test: A missed examination will result in a “zero” grade unless a medical
certificate is submitted promptly to and approved by the instructor. There will
be no make-up test for those who were absent from the test.
AT4 Final Examination: There will be a final examination which comprises
computational and essay type questions. A missed examination will result in a
“zero” grade unless a medical certificate is submitted promptly to the instructor.
A make-up examination will be allowed only under extreme circumstances.
See university academic regulations for more details.

Assessment Criteria for Assessment Tasks / Activities (ATs)

AT1. Assignments
Grade Grading Criteria
A, A- • Excellent command of concepts and applications supported by
Excellent excellent analyses and effective solutions in writing
• Submitted all assignments with substantial accuracy
B+, B, B- • Good command of concepts and applications supported by good
Good analyses and effective solutions in writing
• Submitted all assignments with very good accuracy
C+, C, C- • Acceptable command of concepts and applications supported by
Fair acceptable analyses and solutions in writing
• Submitted all assignments with adequate accuracy
D+, D • Marginal command of concepts and applications supported by weak
Marginal analyses and solutions in writing
• Submitted assignments with marginal accuracy
F • Poor command of concepts and applications supported by poor
Fail analyses and solutions in writing
• Submitted assignments with poor accuracy

AT2. Class Participation

Grade Grading Criteria
A, A- • Extremely well prepared for and participated in class discussion
Excellent • Enthusiastic and active in sharing ideas and opinions with logical,
accurate, and clear expressions

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 • Excellent command of concepts and applications supported by
excellent analyses and effective solutions in writing
B+, B, B- • Well prepared for and participated in class discussion
Good • Relatively active in sharing ideas and opinions with logical, accurate,
and clear expressions
• Good command of concepts and applications supported by good
analyses and effective solutions in writing
C+, C, C- • Not well prepared for and participated in class discussion
Fair • Limited active in sharing ideas and opinions with logical, accurate,
and clear expressions
• Acceptable command of concepts and applications supported by
acceptable analyses and solutions in writing
D+, D • Poorly prepared for and participated in class discussion
Marginal • rare sharing of ideas and opinions with logical, accurate, and clear
expressions
• Marginal command of concepts and applications supported by weak
analyses and solutions in writing
F • Never prepared for and participated in class discussion and no
Fail sharing of ideas and opinions with logical, accurate, and clear
expressions
• Poor command of concepts and applications supported by poor
analyses and solutions in writing

AT3. Test
Grade Grading Criteria
A, A- • Comprehensive understanding of all relevant concepts for selected
Excellent topics
• Substantially corrected application of concepts and theories to all
aspects of the topics by providing in-depth analyses
• Substantially and consistently accurate, logical and clear expression
of answers by excellent writing in English
B+, B, B- • Good understanding of all relevant concepts for selected topics
Good • Good application of concepts and theories to all aspects of the topics
by providing in-depth analyses
• Consistently accurate, logical and clear expression of answers by
good writing in English
C+, C, C- • Adequate understanding of all relevant concepts for selected topics
Fair • Adequate application of concepts and theories to all aspects of the
topics by providing in-depth analyses
• Adequately accurate, logical and clear expression of answers by
adequate writing in English
D+, D • Marginal understanding of all relevant concepts for selected topics
Marginal • Weak application of concepts and theories to all aspects of the topics
by providing in-depth analyses

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 • Marginally accurate, logical and clear expression of answers by
acceptable writing in English
F • Poor understanding of all relevant concepts for selected topics
Fail • Poor application of concepts and theories to all aspects of the topics
by providing in-depth analyses
• Less accurate, logical and clear expression of answers by poor
writing in English

AT4. Final Examination

Grade Grading Criteria
A, A- • Comprehensive understanding of all relevant concepts for all topics
Excellent • Substantially corrected application of concepts and theories to all
aspects of the topics by providing in-depth analyses
• Substantially and consistently accurate, logical and clear expression
of answers by excellent writing in English
B+, B, B- • Good understanding of all relevant concepts for all topics
Good • Good application of concepts and theories to all aspects of the topics
by providing in-depth analyses
• Consistently accurate, logical and clear expression of answers by
good writing in English
C+, C, C- • Adequate understanding of all relevant concepts for all topics
Fair • Adequate application of concepts and theories to all aspects of the
topics by providing in-depth analyses
• Adequately accurate, logical and clear expression of answers by
adequate writing in English
D+, D • Marginal understanding of all relevant concepts for all topics
Marginal • Weak application of concepts and theories to all aspects of the topics
by providing in-depth analyses
• Marginally accurate, logical and clear expression of answers by
acceptable writing in English
F • Poor understanding of all relevant concepts for all topics
Fail • Poor application of concepts and theories to all aspects of the topics
by providing in-depth analyses
• Less accurate, logical and clear expression of answers by poor
writing in English

Alignment of Program Intend Learning Outcomes (PILOs), Course Intended

Learning Outcomes (CILOs), Teaching and Learning Activities (TLAs) and
Assessment Tasks / Activities (ATs)
Program Intend Course Intended Teaching and Assessment
Learning Outcomes Learning Outcomes Learning Activities Tasks / Activities
1, 4 CILO 1 TLAs 1 – 2 ATs 1 – 4
1, 2 CILO 2 TLAs 1 – 2 ATs 1 – 4

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 2, 5 CILO 3 TLAs 1 – 2 ATs 1 – 4
5,7,8,9 CILO 4 TLAs 1 – 3 ATs 1 – 4

Alignment of Teaching and Learning Activities, Assessment

Achievement of Generic Teaching and Learning Assessment Tasks (ATs)
Skills Outcomes Activities (TLAs)
Study skills TLA1, TLA2 AT1, AT2, AT3, AT4
Problem solving skills TLA1, TLA2, TLA3 AT1, AT2, AT3, AT4
Critical thinking skills TLA1, TLA2 AT2, AT3, AT4
Collaboration, Presentation, TLA1, TLA2, TLA3 AT1, AT2
and Communication skills

Resources
Required Textbook
1. Kieso, Donald E., Weygandt, Jerry J., and Warfield, and D.Terry (2017).
Intermediate Accounting: IFRS Edition, 3rd edition, John Wiley & Sons Inc.
2. Lecture Notes- Handouts will be available on the course website and used in all
classes.
Supplementary Readings
1. International Financial Reporting Standards (IFRS) standards
International Accounting Standards
https://www.ifrs.org/issued-standards/list-of-standards/
2. Hong Kong Financial Reporting Standards, Hong Kong Institute of Certified
Public Accountants (HKICPA), Hong Kong Accounting Standards, HKICPA
http://app1.hkicpa.org.hk/ebook/HKSA_Members_Handbook_Master/volumeII/contentpa
ge.pdf
3. Kieso, Donald E., Weygandt, Jerry J., and Warfield, Terry D. (2016). Intermediate
Accounting, 16th edition, John Wiley & Sons Inc.
4. Spiceland, J. David, J. Sepe, M. Nelson, and W. Thomas (2017). Intermediate
Accounting, 9th edition, McGraw Hill.
5. Stice, Earl K. and James D. Stice (2014). Intermediate Accounting: International
Edition, 19th edition, South-Western Cengage Learning.

Academic Conduct
The object of the Plagiarism and Academic Misconduct Policy is to promote an
educational environment where academic honesty and fairness are valued as promoting
personal integrity and maintaining the academic standards of the University. Cheating
on examinations, plagiarism, and unauthorized collaboration with colleagues on
assignments is not allowed. Serious penalty will be imposed on student(s) for
recognized academic misconduct. Please refer to Plagiarism and Academic Misconduct
Policy for details.

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 Course Outline - ACCT 201 Intermediate Financial Accounting I

Suggested
Week Topics Readings
Exercise
1 Overview of Financial Accounting and Ch 1 CA 5, 7
Accounting Standards: International, USA, Financial reporting standards
and Hong Kong (FRS), HKICPA
1-2 Conceptual Framework for Financial Ch 2 E1, 7; P2-6
Reporting Financial reporting standards,
(including Fair value measurement: HKICPA*
hierarchy, valuation and disclosure)
3 Statement of Financial Position Ch 5, 23 E23-10, 23-11
Statement of Cash Flows IAS1/HKAS1 P1

4 Income Statement and Related Information: Ch 4 E4-6; P4-3

Discontinued Operations, Comprehensive IAS1/ HKAS1
Income Statement, and Statement of Changes IFRS5/ HKFRS5
in Equity
5 Income Statement and Related Reporting Ch 4, 22 E4, 17
Issues: Changes in Accounting Policy and IAS1/ HKAS1
Estimates, and Error Analysis
6 Revenue Recognition and Revenue Principle Ch 2, 18 E30; P10
Accounting for Long-Term Construction
Contract
7 Receivables: Recognition, Valuation, and Ch 7 (Kieso et al. 2nd ed., 3rd E12, 19; P4
Disposition (including impairments) ed)
8 Reading Week
9 Recognition and Valuation for Inventories: A Ch 8 E1, 12; P8
Cost-Basis Approach
10 Inventories: Additional Valuation Issues Ch 9 E1, 12, E14; P7
11 Property, Plant, and Equipment: Acquisition, Ch 10 E8, 12, 18; P8,
Disposition and Cost Allocation (including IAS23/ HKAS23 P9
borrowing costs)
12 Property, Plant, and Equipment: Cost Ch 11 E14, 18; P7
Allocation and Impairments (including IFRS5/ HKFRS5
non-current assets held for sale)
13 Recognition and Valuation of Intangible Ch 12 E2, 11
Assets (including impairments)
14 Time Value of Money Ch 6 E6, 14; P1

15 Reading Week
Note: Updates and amendments of the course materials may be made as required, during the lectures.
HKAS: Hong Kong Accounting Standards; HKFRS: Hong Kong Financial Reporting Standards
IAS: International Accounting Standards; IFRS: International Financial Reporting Standards
* Hong Kong financial reporting standard for private entities, Small and medium sized-entity financial
reporting framework and financial reporting standard.
IAS1/ HKAS1: Presentation of financial statements. IFRS5/ HKFRS5: Non-current assets held for sale
and discontinued operations. IFRS5/ HKFRS5 Non-current assets held for sale and discontinued
operations. IAS23/ HKAS23 Borrowing costs