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ACCT3030+Syllabus+Fall+2024

The ACCT3030 course at The Hong Kong University of Science & Technology focuses on Intermediate Financial Accounting for Non-Accounting Majors, emphasizing contemporary accounting standards, particularly IFRS. Students will learn to apply financial reporting standards, analyze corporate financial positions, and understand the ethical dimensions of accounting. Assessments include online assignments, midterm and final exams, and class participation, with a strong emphasis on academic integrity.

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21 views4 pages

ACCT3030+Syllabus+Fall+2024

The ACCT3030 course at The Hong Kong University of Science & Technology focuses on Intermediate Financial Accounting for Non-Accounting Majors, emphasizing contemporary accounting standards, particularly IFRS. Students will learn to apply financial reporting standards, analyze corporate financial positions, and understand the ethical dimensions of accounting. Assessments include online assignments, midterm and final exams, and class participation, with a strong emphasis on academic integrity.

Uploaded by

Mok Elisa
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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The Hong Kong University of Science & Technology

Department of Accounting

ACCT3030 – Intermediate Financial Accounting for Non-Accounting Majors

Course Outline – Fall 2024

Instructor: Dr. Yue ZHENG


Office: LSK building, Room 6050
E-mail: aczheng@ust.hk
Office Hours: By appointment
TA : Mandy CHEUNG (acmandy@ust.hk)
TA office hours: By appointment

Classes: L1 (CYTG009A): Tuesday & Thursday 9:00-10:20


L2 (CYTG009A): Tuesday & Thursday 13:30-14:50
L3 (CYTG009A): Tuesday & Thursday 12:00-13:20

Couse website: https://canvas.ust.hk/

Course Objectives

This course introduces students to contemporary accounting standards and practices


used in reporting financial items that are often the primary information for financial
analysis and business valuation. Students taking this course will learn how to apply the
financial reporting standards, and also develop the conceptual framework, knowledge
base and cognitive ability required for analyzing corporate financial position and
performance.

In regard to accounting standards, our primary focus will be on International Financial


Reporting Standards (IFRSs) because (a) the IFRSs and the International Accounting
Standards (IASs) have been extensively adopted around the world, and (b) the
continuous collaboration between the two largest accounting standard-setting bodies in
the world, the IAS Board and Financial Accounting Standards Board (FASB), has led to
convergence towards a set of globally accepted accounting standards which are mostly
inclined toward current IFRSs. Therefore, the increasing importance, if not dominance, of
the more principles-based IFRSs is apparent.

Students taking this course must have the pre-requisite accounting knowledge covered
in ACCT2010 or ACCT2020. On the other hand, this course leads onto the higher-level
course ACCT4020 Financial Statement Analysis. This should also lay a good foundation
for non-accounting major students who wish to explore equity analysis using company
information reported in financial statements.

Course Learning Outcomes

This course is designed for business students of non-accounting majors and, as such, its
course learning outcomes differ from those of ACCT3010 and ACCT3020 that are
designed for accounting majors. While covering fewer topics than those of ACCT3010 and
ACCT3020 combined, this course retains the analytical aspects and depth of those topics
covered.
1
Upon completion of this course, students will be able to:

1. Think critically and creatively in making effective decisions supported by analytical


and quantitative techniques.
2. Explain the interdependence and distinctive elements of accounting, finance and
economics, and integrate them to solve business problems.
3. Apply financial accounting frameworks to business situations, by way of:
i. Identifying the information needs of financial statements users and producing
accounting information to satisfy those needs.
ii. Demonstrating an understanding of the external reporting requirements of
organizations.
iii. Identifying, collecting, measuring, analyzing, and interpreting financial
information.
4. Demonstrate an understanding of the international dimensions of accounting.
Identify the activities/issues in accounting that may present ethical challenges, and
articulate the consequences associated with unethical behavior.

Course Materials

 Required textbook: Kieso, Weygandt, Warfield. Intermediate Accounting: IFRS Edition,


4th edition (2020), John Wiley & Sons.
 Students are required to purchase e-copy of the textbook together with the access to
the online homework system WileyPLUS. Registration details are posted on Canvas.
 Slides or other documents used in class are posted on Canvas. Please do NOT
distribute the slides or post them in public websites without the instructor’s
permission. Thank you.

Assessments

You will be assessed by your performance in online assignments, midterm exam, final
exam, and participation.

Four homework assignments will be assigned on WileyPLUS online system, which can be
accessed via Canvas. You are expected to take the homework independently before the
required deadline. The purpose of these assignments is to encourage timely review of the
topic and to reward your efforts spent on studying the teaching materials. Two attempts
are given for each homework. The grade is based on the accuracy of your answers, but
once your score is 90/100 or higher, you get the full marks for the assignment. We will
drop one assignment with the lowest score, and count only top three assignments. Late
Submission is not allowed.

For both midterm and final exams, you can bring an A4 hand-written “cheat” sheet (you
can write on both sides). The final exam is non-cumulative. All students will attend
midterm and final exams in person.

2
Attendance will not be taken. 5% of the total grade is allocated to class participation,
which is evaluated based on your participation in class discussion. Examples of valuable
participation include the asking of helpful questions (e.g. those that seek clarification or
give an opportunity to develop the course material), answering questions and other
relevant discussion. Students are expected to be courteous to your fellow students and to
your instructor. Unprofessional and disrespectful conduct that can cause disturbances to
the class, such as chatting among and between students outside of the context of the
classroom discussion, are not permitted and will hurt your participation score.

If you miss the Mid-term Exam for a reason other than illness or university-
scheduled activities (in which case medical proof or official letter should be
provided), the weight will be automatically shifted to the Final Exam. For the Final
Exam, any make-up arrangement would need the approval from Academic Registry.
Please refer to their guideline on https://registry.hkust.edu.hk/resource-
library/examination-regulations-student.

Grading Scheme

Description Weight

4 Online homework assignments (take 3 highest scores) 15%


Midterm exam 30%
Final exam 50%
Participation 5%

Total 100%

Academic Integrity

The University places a strong emphasis on academic integrity. Please refer to


https://registry.hkust.edu.hk/resource-library/academic-honor-code-and-academic-integrity
for school policies and regulations on plagiarism. Any academic dishonesty noted in this
course will lead to a failure grade which will delay your graduation.

3
Tentative Schedule (Subject to Change)

Important Dates:

Date Activity Topic


Sept 27 Homework 1 due for submission (11:59pm HK time) Chapters 1, 2, 4
Oct 15 Midterm Exam, LTA, 8-9:30pm Chapters 1, 2, 4, 5, 7, 9
Oct 18 Homework 2 due for submission (11:59pm HK time) Chapters 5, 7, 9
Nov 15 Homework 3 due for submission (11:59pm HK time) Chapters 11, 12, 13
Dec 6 Homework 4 due for submission (11:59pm HK time) Chapters 14, 15, 16
TBD Final Exam, TBA Chapters 11, 12, 13, 14, 15, 16

Dates and topics for class meetings:


Date Topic
Sept 3 Ch1: Financial Accounting and Accounting Standards
Sept 5
Ch2: Conceptual Framework for Financial Reporting
Sept 10
Sept 12
Ch4: Income Statement and Related Information
Sept 17
Sept 19
Ch5: Statement of Financial Position and Statement of Cash Flows
Sept 24
Sept 26 Ch7: Cash and Receivables
Oct 1 No class, public holiday
Oct 3 Ch7: Cash and Receivables
Oct 8 Ch9: Inventories: Additional Valuation Issues
Oct 10 Ch11: Depreciation, Impairments, and Depletion
No regular class, Midterm Exam. LTA. 8-9:30pm. Covering Chapters
Oct 15
1, 2, 4, 5, 7, 9
Oct 17 Ch11: Depreciation, Impairments, and Depletion
Oct 22
Ch12: Intangible assets
Oct 24
Oct 29
Ch13: Current Liabilities, Provisions, and Contingencies
Oct 31
Nov 5
Ch14: Non-Current Liabilities
Nov 7
Nov 12
Ch15: Equity
Nov 14
Nov 19
Nov 21 Ch16: Dilutive Securities and Earnings per Share
Nov 26
Nov 28 Final Review
Final Exam, To be announced. Chapters 11, 12, 13, 14, 15, 16

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