Beijing Foreign Studies University

COURSE SYLLABUS

Contents

Course
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Contact
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Course
Description..............................................................................................................Fejl!
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Course Aims and Learning Objectives.............................................................................2

Learning Resources............................................................................................................2

Academic Integrity.............................................................................................................3

Miscellaneous issues...........................................................................................................4

Weekly Arrangements.......................................................................................................4

Individual Work.................................................................................................................5

Group Work.......................................................................................................................5

Meetings.............................................................................................................................5

Teaching Approach...........................................................................................................6

Assessment.........................................................................................................................6

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COURSE TITLE: Financial Accounting and International Reporting

SEMESTER: 1stSemester, 2017- 2018 INSTRUCTOR: Song Yanheng
LEVEL: Graduate Student EMAIL: songyanheng@bfsu.edu.cn
PRE-REQUISITES: N/A OFFICE: IBS929
CREDIT HOURS: 36 OFFICE HOURS: 10:00-12:00 Tuesday

Class Type Days Time Room

lecture Wednesday 8:00 am to 10:00 am 309

COURSE DESCRIPTION
Modern corporations operate in relations with numerous outside stakeholders such as
investors, creditors, intermediaries, customers, and regulatory bodies. These stakeholders need
information about the entity they transact with so as to make optimal decisions. Although the
information these stakeholders need is diverse in its form and content, the most important one is
accounting information because it aids them to evaluate the value of corporation and its
credit-worthiness.
This introductory course in financial accounting and international reporting is designed to
provide students with an overview of the principles and concepts that underlie corporate
financial statements and the reporting and economic consequences of accounting choices. The
course focus is on developing the skills required to understand and interpret the information
contained in financial statements and its use in decision-making rather than on the skills
required to prepare financial statements. Topics include the underlying accounting principles,
the format and content of Balance Sheet, Income Statement and Statement of Cash Flows, and
accounting for accounts receivable, inventories, capital assets, liabilities and stockholders’ equity.

1. Course Aims & Learning Objectives

² Course aims:
The aim of this course is to provide you with an integrated framework for understanding
how the different transaction and events occurring in the company are impacting the financial
information reported to external stakeholders as shareholders, creditors, customers, suppliers,
governments and others.
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² Learning objectives:
We will spend a considerable amount of time studying how the day-to-day transaction
economic events are “translated” and presented to be used for transaction and decisions by the
stakeholders. In this course, you should gain a thorough understanding of the items include in
the financial statements and also the made economic events and related accounting choices
underlying them. These include the judgment required to make these choices and also the factors
that influence them. By the end of the course you should feel comfortable with the various
components of the financial statements and be ready to start the finance module.

2. Contribution to Mission & Contribution to learning goals

■Holistic Education £Learning by doing £Human-centric values
Contribution to Mission
£Resource integration £Innovative knowledge £International view

■ Goal 1：Students have professional knowledge and competency in applying

Contribution to learning theoretical knowledge. (Professional Knowledge and Competency in Research)
goals ： Bachelor of £Goal 2: Students have business expertise with local knowledge and global vision.
Management(Major in (Global Vision)
Business £Goal 3: Students will have an awareness of ethic behaviors and social
Administration(International responsibility. (Social Responsibility)
Business)) ■Goal 4: Students have the ability to communicate and conduct business in a
cross-cultural context. (Cross-cultural Communication Skill)
Name: Office:
Director of Department
E-mail: Phone:
Name: Office:
Department Secretary
E-mail: Phone:

3. Learning Resources
· Required Resources
1. J.R. Williams, S.F. Haka, M.S. Bettner, and J. V. Carcello. 2013. Financial & Managerial
Accounting——the basis for business decisions.(Financial accounting) 16th edition.
China Machine Press(机械工业出版社)
2. Lecture Notes, Articles, Assignments

· Recommended Resources
Elliot, B. & Elliot, J.: Financial Accounting and Reporting, 18th edition. Pearson.

4. Academic integrity
A student has an obligation to exhibit honesty and to respect the ethical standards of the
academy in carrying out his or her academic assignments. Without limiting the application of
this principle, a student may be found to have violated this obligation if he or she:

1. Refers during an academic evaluation to materials or sources, or employs devices, not

authorized by the instructor.

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2. Provides assistance during an academic evaluation to another person in a manner not

authorized by the instructor.
3. Receives assistance during an academic evaluation from another person in a manner
not authorized by the instructor.
4. Engages in unauthorized possession, buying, selling, obtaining, or using of any
materials intended to be used as an instrument of academic evaluation in advance of
its administration.
5. Acts as a substitute for another person in any academic evaluation process.
6. Utilizes a substitute in any academic evaluation procedure.
7. Practices any form of deceit in an academic evaluation proceeding.
8. Depends on the aid of others in a manner expressly prohibited by the instructor, in the
research, preparation, creation, writing, performing, or publication of work to be
submitted for academic credit or evaluation.
9. Provides aid to another person, knowing such aid is expressly prohibited by the
instructor, in the research, preparation, creation, writing, performing, or publication of
work to be submitted for academic credit or evaluation.
10. Presents as one's own, for academic evaluation, the ideas, representations, or words of
another person or persons without customary and proper acknowledgment of sources.
11. Submits the work of another person in a manner that represents the work to be one's
own.
12. Knowingly permits one's work to be submitted by another person without the
instructor's authorization.
13. Attempts to influence or change one's academic evaluation or record for reasons other
than achievement or merit.
14. Indulges, during a class, examination session, or any other academic setting, in
conduct that is so disruptive or disrespectful as to infringe upon the rights of the
instructor or fellow students.

Fails to cooperate, if called upon, in the investigation or disposition of any allegation of

dishonesty pertaining to another student, or any other breach of a student's obligation to
exhibit honesty.

5. Weekly Arrangements

Assignments or other
Week Date Content/Learning Activities
learning activities
1 Sept.20 Introduction Case 1 (G)

2 Sept.27 Balance sheet Individual Homework 1

— general purpose of financial statements
— What is asset?
— What is liability?
— What is owners' equity?
— What are the characteristics of Balance
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Sheet?
— What are the underlying accounting
concepts in the Balance Sheet?
3 Oct. 4 National Day Holiday
3 Oct. 11 Income statement Individual Homework 2
— What is revenue? Case 2 (G)
— What is expense?
What is accrual accounting?
4 Oct.18 Accounting cycle Individual Homework 3
— What is the accounting cycle?
— What is the double entry system?
— How to prepare journal entries?
5 Oct.25 Financial assets Individual Homework 4
— What are financial assets
— Classification of financial assets
Accounting for Marketable Securities
6 Nov.1 Receivables Individual Homework 5
— Classification of receivables Case 3 (G)
— Timing of revenue recognition
— Accounting for accounts receivables
7 Nov.8 Inventories Individual Homework 6
— What are inventories?
— How to determine the cost of goods
sold?
— Year-end inventory adjustment
— Techniques for estimating the cost of
goods sold and the ending inventory
Analyzing method
8 Nov.15 PPE Individual Homework 7
— Acquisitions of plant assets
— Utilization of plant assets
— Disposal of plant assets
— Year-end adjustment
9 Nov.22 Intangible assets Individual Homework 8
— What are intangible assets? Case 4 (G)
— Types of intangible assets
— Characteristics of intangible assets
— Amortization
The valuation of intangible assets
10 Nov.29 Liability Individual Homework 9
— What is liability?
— How do we classify liabilities ?
— Accounting for bonds
Estimated liabilities, Loss contingencies,
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and Commitments
11 Dec.6 Stockholders' equity Case 5 (G)
— Paid-in capital (capital stock) Innovative Engineering company
ØFeatures of different types of capital Individual Homework 10
stock
ØFactors affecting the market price of
capital stock
ØAccounting for stock issuance
ØAccounting for treasury stock
— Transactions affecting retained
earnings
Accounting for different types of dividends
12 Dec.13 Other items that affect net income Individual Homework 7
and owners' equity
l Income tax
l Pensions
13 Dec.20 Statement of cash flows
— Purposes of the statement of cash
flows
— Distinguish between different types of
cash flows
— Preparing a statement of cash flows
Differences between Cash Flow from
Operations and Net Income
14 Dec.27 Course review

Individual work:
A clear description of the individual task, including topics, procedures, requirements, etc.
Individual homework are chapter assignments, which

Team-work:
A clear description of the team-work task, including topics, procedures, requirements, etc.
3-4 students form a group and finish a large assignment (given by lecture) together including
in-class knowledge and self-thinking part.

6. Meetings

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7. Teaching Approach
■ Lecture ■Study Group
■ Case Study £Seminar on Field Research
£ e-Learning £Internship
£Project Adventure £Service Learning
£Role Playing ■Independent Study
£Business Simulation Game £Dialogue Teaching
£Theater Learning £ Others

8. Assessment
Table 1. Assessments and percentage
Assessment Task & Details & Due date Weighting
Graded Elements
Individual homework Attendance and class participation 20%
Group homework 20%
Attendance You will lose 2 scores for each time you miss 5%
the class. You are not qualified to attend the
final exam if you missed more than 4 classes.
Class participation 5%
Final Exam 50%

This class also follows the rules and expectations regarding letter grades provided by BFSU and it also
follows the grading curve policies. See table 2.
Table 2. Number and letter grade correspondence
百分制分数 等级 绩点
90-100 A 4.0
85-89 B+ 3.7
82-84 B 3.3
78-81 B- 3.0
75-77 C+ 2.7
72-74 C 2.3
68-71 C- 2.0
64-67 D+ 1.5
60-63 D 1.0
0-59 F 0
Points Grades Grade points
85≤ A 4.0
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78≤x<85 B 3.0
60≤x<78 C 2.0
55≤x<60 D 1.0
<55 F 0