Course title: Intermediate Accounting I
Code: 12A04
Credit: 4
Teaching Hours: 4 hrs/w X 16weeks

Overview

Intermediate financial accounting represents an intensive study and application of the generally accepted accounting principles for asset and liability valuation, income measurement, stockholders’ equity measurement, and financial statement presentation for business organizations, and the processes through which these principles evolve. The course builds on fundamental accounting principle by covering in detail topics that are essential to preparing, reading, understanding, interpreting, and using financial statements prepared in accordance with generally accepted accounting principles. Topics covered include conceptual framework, accounting information system, financial statements, inventory accounting, cash and receivables, plant assets, intangible assets, current and long-term liabilities, contingencies, shareholders’ equity, and investment.

Aims and Objectives
1. Understand the financial reporting conceptual framework.
2. Demonstrate the differences between the cash and accrual bases of accounting.
3. Prepare a balance sheet in good form.
4. Prepare an income statement in good form.
5. Demonstrate the ability to apply generally accepted accounting principles (GAAP) to major asset categories on the balance sheet.

Textbook
Intermediate Accounting edited by Donald E. Kieso, published by the press of People University of China

Suggested Readings (if you have)

Teaching Methodology
Group work, case study, classroom learning, presentation, workshops, multimedia, Field study

Assessments
Final Examination 60%
Mid-term Examination 20%
Homework assignments and class participation 20%
Total 100%
To achieve a pass grade in this course, students must obtain 60% or more as an aggregate mark on the assessment.

Syllabus

1. Fiancial accountig and accounting standards
2. conceptual framework underlying financial accounting
3. the accounting information system
4. income statement and related information
5. balance sheet and statement of cash flows
6. cash and Receivables
7. Valuation of inventories:a cost-basis approach
8. Inventories: additional valuation issues
9. acquisition and disposition of property, plant and equipment
10. Depreciation and impairments
11. Intangible Assets
12. current liabilities and contingencies
13. long-term liabilities
14. stockholders’ equity
15. investments