Financial Accounting

Module 1, 2012-13 Syllabus (as of 9 Sept 2012)

NOTICE:  ***  Added SATURDAY  17 Nov.   The Final Exam and your Course Grades have been loaded. Job well done folks!  Mean final exam is 90.7  Median course grade is 90.8.  Thank you for taking, and completing this important foundational course.  We learned a great deal of material in a short time.  I wish you each much continued success and I hope to see you again in a future class of mine.  All the best to you!  :-)

NOTICE:  ***  Added WEDNESDAY  14 Nov.   The grades for the homework assignements have been loaded...VERY IMPRESSIVE FOLKS!!!

NOTICE:  ***  Added MONDAY  12 Nov.   Quiz #4 grades are loaded.  The class mean average is 85.6, median score is 85.0.  81% scored 80 or greater. Top score is 100.0; low is 60.0. Mode is 90.0 (10 scores). Standard Deviation is 7.9

NOTICE:  *** Added Monday  5 Nov.   The FINAL EXAM schedule has been finalized.  The Final Exam for this course will be held SATURDAY, 17 Nov., 8:00am-11:00am at the Bldg D Theater.  The offical days for finals of other courses is the following Monday and Tuesday.  By this course having the exam on the Saturday, it will free-up the rest of your weekend to focus on your other courses.  I believe this plan benefits you, hopefully!  Moreover, the advanced instructions and clues for our final exam will be available via a link in the private area of this website after the completion of Quiz #4 (next Monday).

NOTICE:  *** Added FRIDAY  2 Nov.   The rescheduled class meeting planned for Wednesday, 7 Nov 3:00-4:50 will be held in room C203.

NOTICE:  *** Added WEDNESDAY  31 Oct.   The next class meeting THURSDAY 1 NOVEMBER IS CANCELED. In its place, we will have a class meeting on Wednesday, 7 Nov 3:00-4:50, room TBA. Homework due dates is UNCHANGED. That is, 14A-4 and Sanchez Ch 13 remains due the morning of 1 Nov; 15A-4 and Sanchez Ch 14 remains due 5 Nov; and, 16A-4 and Sanchez Ch 15 remains due 8 Nov. Class lectures will continue in the natural order: Monday 5 Nov will be Ch. 14; Wed. 7 Nov will be Ch. 15; and Thu 8 Nov will be Ch 16. Please spread the word of this change to your classmates. Thank you.

NOTICE:  *** Added MONDAY  29 Oct.   Quiz #3 grades are loaded.  The class average is 88.7, median score is 90.0.  Std Dev = 6.53. N=71.  The mode is 92.5 with 15 students having that score. Top score is 97.5 (5); low is 67.5(1).

NOTICE:  *** Added MONDAY  15 Oct.   Quiz #2 grades are loaded.  The class average is 78.8, median score is 80.0.  66% scored 80 or greater. Top score is 97.5; low is 55.0.

NOTICE:  *** Added THURSDAY  11 Oct.   TA sessions will be set at 8:00-9:00P.M. every Friday at C102, including this week.

NOTICE:  *** Added WEDNESDAY  3 Oct.   With the ongoing aim of covering both domestic and international material in this course (and PHBS overall), a small collection of OPTIONAL readings are available to you HERE.  These materials provide a good overview of China GAAP and of Employee Payroll processing, computation and taxes. Material in these readings are NOT covered in any course exams, but are important readings for your future.

NOTICE:  *** Added MONDAY  1 Oct.   Details for Quiz #1 have been added to the student workbench; where your quiz score is posted, explainations of your wrong answers are now listed besides the score in the comments column.

NOTICE:  *** Added THURSDAY 27 Sep.   There will ne no TA session on Friday 28 Sept.  Enjoy your holiday!

NOTICE:  *** Added MONDAY 24 Sep.   Quiz #1 grading is finished; your individual grades are available via your web account.  The class average is 91.7; very good scores!  Standard deviation is 6.2  Median is 92.5.  N=74.  Max=100 (3 scores) Min=65.  57 scores (77%) were 90 or above!

NOTICE:  *** Added SATURDAY 22 Sep.   Future TA session will regularly be held on Fridays 8:00-9:00pm. Class WILL BE held 8 and 11 Oct instead of being rescheduled.

[Pages for Enrolled Students Only]


   Deloitte China Tax Highlights 2012

   Deloitte Comparison between PRC GAAP and IFRS 2005

   Deloitte IFRS and US GAAP pocket comparison 2008

   Deloitte CASPlus - A Resource for China Accounting Standards

   Deloitte China's New Accounting Standards 2006

   Deloitte IFRS E-Learning (Free)

Class Meeting Number Class Meeting Date / Day Topic(s)

Readings-Read before class

Homework Excercises - due before class--

Chapter Group A Problems


Sanchez Problem - due before class

1 10-Sep Monday Course Intro; Accounting Concepts and Procedures none none none
2 13-Sep Thursday Debits & Credits: Analyzing and recording transactions Ch 1 & 2

1A-1 thru 1A-3


none Create Student Account on website
3 17-Sep Monday Beginning the Accounting Cycle Ch 3


3A-1 thru 3A-2

Ch 1 & 2
4 20-Sep Thursday The Accounting Cycle Continued Ch 4 4A-1 thru 4A-2 Ch 3
5 24-Sep Monday The Accounting Cycle Completed Ch 5 5A-1 thru 5A-3  Ch 4 QUIZ #1 at start of class
6 27-Sep Thursday Banking Procedure and Control of Cash Ch 6 6A-3 Ch 5
1-5 Oct Holiday
7 8-Oct Monday Calculating Pay and Payroll Taxes: Beginning of the Process Ch 7 Sullivan Realty Mini Practice Set (Ch. 5, pp.204-219) & 7A-4 Ch 6
8 11-Oct Thursday Paying. Recording, and Reporting Payroll and Payroll Taxes: The conclusion of the payroll process Ch 8 8A-2 Ch 7
9 15-Oct Monday Sales and Cash Receipts Ch 9 9A-1 Ch 8 QUIZ #2 at start of class
10 18-Oct Thursday Purchases and Cash Payments Ch 10 10A-1 Ch 9
11 22-Oct Monday Preparing a Worksheet for a Merchandise Company Ch 11 11A-2 Ch 10
12 25-Oct Thursday Completion of the Accounting Cycle for a Merchandise Company Ch 12 12A-3 Ch 11
13 29-Oct Monday Accounting for Bad Debts Ch 13 13A-4 Ch 12 QUIZ #3 at start of class

1-Nov Thursday

Lecture Changed to: 5-Nov Monday

Notes Receivable and Notes Payable Ch 14 14A-4 Ch 13

5-Nov Monday

Lecture Changed to:7-Nov Wednesday3:00 C203

Accounting for Merchandise Inventory Ch 15 15A-4 Ch 14
16 8-Nov Thursday Accounting for Property, Plant, Equipment, and Intangible Assets Ch 16 16A-4 Ch 15
17 12-Nov  Monday Statement of Cash Flows Ch 21 21A-1, 21A-2 OPTIONAL none QUIZ #4 at start of class
18 15-Nov Thursday Analyzing Financial Statements Ch 22 22A-1 OPTIONAL none
FINAL EXAM 17-Nov SATURDAY 8:00am-11:00am FINAL EXAM (3Hrs) Location: Bldg D Theater FINAL EXAM