Department of Accountancy

AC5511 Financial and Management Accounting

Semester A in 2018 / 2019

Instructor:

Dr. Yuyan Guan Dr. Haibin

Wu
Tel: 3442 7136 Tel: 3442
7926
Office: AC3-13-223 Office:
AC3-13-217
Email: ​yyguan@cityu.edu.hk Email:
haibinwu​@cityu.edu.hk

Course Aims

This course aims to:

1. provide students with technical knowledge in processing, preparing and reporting accounting
information for external users in a modern economy;
2. develop students' conceptual skills and professional competence in the preparation and reporting
of financial accounting information under generally accepted accounting principles (GAAP) in
Hong Kong;
3. provide students with an in-depth understanding of the underlying accounting concepts and
accounting standards governing the preparation of financial statements under Hong Kong GAAP
for external users.
4. review the functions and information needs of management in the contemporary business
environment.
5. provide students with the knowledge of inventory valuation and product costing in a
manufacturing company at a level suitable for managers.

Course Intended Learning Outcomes (CILOs)

(CILOs state what the student is expected to be able to do at the end of the course according to a given standard
of performance.)

No. CILOs​# Weighting* Discovery-enriched

(if curriculum related
applicable) learning outcomes
(please tick where
appropriate)
A1 A2 A3
1. Record accounting transactions related to Cash, √ √
Receivables, Inventories, Fixed assets, Payables,
Shareholders’ equity, Revenues, Costs of merchandise
sold, and Expenses;
Prepare financial statements (statement of financial
position, statements of shareholders’ equity, statements
of retained earnings, and income statement) for
servicing and merchandising companies.
1
 2. Apply the appropriate accounting concepts and policies √ √
and relevant Hong Kong Financial Reporting
Standards (HKFRSs) to the recognition, measurement
and disclosures relating to assets.
3. Value inventory in a manufacturing company using √ √
job-order costing and process costing.
4. Compute income using variable costing and absorption √ √
costing.
5. Use cost-volume-profit analysis to ascertain the √ √
financial information for management decision.
* If weighting is assigned to CILOs, they should add up to 100%. 100%
#
Please specify the alignment of CILOs to the Gateway Education Programme Intended Learning
outcomes (PILOs) in Section A of Annex.

A1: Attitude
Develop an attitude of discovery/innovation/creativity, as demonstrated by students possessing a
strong sense of curiosity, asking questions actively, challenging assumptions or engaging in
inquiry together with teachers.
A2: Ability
Develop the ability/skill needed to discover/innovate/create, as demonstrated by students
possessing critical thinking skills to assess ideas, acquiring research skills, synthesizing
knowledge across disciplines or applying academic knowledge to self-life problems.
A3: Accomplishments
Demonstrate accomplishment of discovery/innovation/creativity through producing /constructing
creative works/new artefacts, effective solutions to real-life problems or new processes.

Teaching and Learning Activities (TLAs)

(TLAs designed to facilitate students’ achievement of the CILOs.)

TLA Brief Description CILO No.

1 2 3 4 5
Lecture Explain key concepts and √ √ √ √ √
financial reporting standards
In class Enhance students’ √ √ √ √ √
exercises understanding of the main
concepts and theories
Group Require students to provide √ √ √
Project​# comprehensive analysis of the
financial reporting of a listed
company

#​
DEC TLA element

Required Textbooks

2
Wild, Kwok, Shaw, Chiappetta, Garrison, Noreen, Brewer, Cheng, Yuen, AC5511 Financial and
Management Accounting, Customized for City University of Hong Kong. The McGraw-Hill
Companies, Inc. (​ISBN: I​ SBN: 9781308847979​).

Online Resources

1. Canvas Site for the Course

Important announcements, lecture notes, and assignment solutions will be posted on this web site.
Students should visit it on a regular basis, say at least twice a week, to download the relevant
materials for study and class preparation.

2. Hong Kong Financial Reporting Standards (HKFRSs) – Members Handbook, Hong Kong
Institute of Certified Public Accountants
http://www.hkicpa.org.hk/ebook/HKSA_Members_Handbook_Master/volumeII/contentpage.pdf

Assessment
Coursework
Class-based assessment activities 10%
Testmidterm80
no
Group Assignment a​
凹 25%
15%
Total for Coursework 50%
Final Examination 50%
Total 100%

AT1 Class-based assessment activities (10%): Students will work on short problems and
demonstrate the solutions to problems. They will also be asked to discuss cases and to present
their case analysis.*
AT2 Tests (25%): A 2-hour mid-term test as a mid-semester assessment of students’ competence
level of the topics.
AT3 Group Project (15%): A group project on financial statement analysis.*
chi
Mo
AT4 Final Examination (50%): A 3-hour written comprehensive examination to assess students’
competence level of the topics.

*​DEC AT element
a ​
Except for extension granted under substantiated mitigation request, 30% of marks
allocated to the assessment task will be deducted for the group assignment submitted within
one week after the due date and zero mark will be assigned for submission more than a week
after the due date​.

Important note

Students are required to pass both coursework and examination components in order to pass the
course.

For illness or other circumstances related to assessment, please refer to the University's Academic
Regulations.
The following statement is extracted from the revised Academic Regulations AR10.1:
"A student who believes that his/her ability to attend an examination, or in-course assessment with a
weighting of 20% or above, has been adversely affected by circumstances beyond his/her control must

3
 submit the case, with documentary evidence, to his/her home department following the procedures
stated on the University website, as soon as possible and no later than 5 working days of the
scheduled date for completing the affected examination or assessment."

Below is the link for student to apply Mitigation.

https://www.cb.cityu.edu.hk/student/mitigation/index.cfm?page=Login

Departmental Guidelines
For in-course assessment with a weighting of less than 20%, students must submit their cases to the
Course Leader, as soon as possible and no later than 5 working days of the scheduled date for
completing the affected assessment.

Absence in quizzes, test or examination or failure to complete the assessment task without
approval according to the regulation will automatically lead to zero mark.

Academic honesty is expected in all areas of the course (exams, group projects, etc.). Cheating will
not be tolerated and violators will be punished to the maximum extent allowed under university
guidelines.

Assessment Rubrics

(Grading of student achievements is based on student performance in assessment tasks/activities with the
following rubrics.)

Assessment Criterion Excellent Good Fair Marginal Failure

Task (A+, A, A-) (B+, B, B-) (C+, C, C-) (D) (F)
1. Class-based Positive attitude High Significant Moderate Basic Not even
Assessment in learning reaching
marginal
levels
2. Test In-depth High Significant Moderate Basic Not even
understanding of reaching
financial marginal
reporting levels
concepts and
standards
3. Group Ability to High Significant Moderate Basic Not even
Project provide a reaching
comprehensive marginal
analysis of levels
financial reports
4. Final Understanding High Significant Moderate Basic Not even
examination of financial reaching
reporting and marginal
management levels
accounting

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5
 Teaching Schedule

Week Topics Reading​1 Homework​1

1 Accounting in business Ch.1 -

2 Analysing and recording transactions Ch.2 Ex2-16; P2-2A; BTN2-4

Adjusting accounts and preparing financial
3 Ch.3&4 P3-1A; P3-3A; P4-4A;
statements (HKAS18)

Cash and receivables Ch.8&9 P8-4B; P9-2A; P9-3A;

4
P9-4A
5 Inventories and cost of sales (HKAS2) Ch.5&6 P6-2A; P6-3A; P6-4B
Property, plant and equipment
6 Ch.10 P10-1A; P10-3A; P10-6A
(HKAS16&36)

7 No regular class in this week

Mid-term test on October 21, 2018, Sunday 10:00am -12:00pm
8 Analysis of financial statement Ch.17 -
Introduction to managerial accounting;
9 Ch.1&2 P2-18; P2-19
Cost concepts
Job-order costing
10 Ch.8&9 P8-26, P8-32; Ex9-9
Process costing
11 Cost-Volume-Profit analysis Ch.4 P4-22; P4-29
12 Variable costing: a tool for management Ch.5 P5-17; P5-18
13 Final review & Presentations