School of Accounting and Finance

Subject Outline

(Subject Code: AF2108)

Financial Accounting

2024/2025 Academic Year – Semester 1

 Financial Accounting Subject Outline

Contents

GENERAL INFORMATION .................................................................................................................. 2

SUBJECT LEARNING OUTCOMES ................................................................................................... 3
PROGRAMME OUTCOMES ................................................................................................................ 3
ONLINE COURSE MATERIAL AND INFORMATION .................................................................... 3
TEXTBOOKS AND SOFTWARE (To be purchased) .......................................................................... 4
RECOMMENDED REFERENCES ....................................................................................................... 4
IMPORTANT COMMUNICATION GUIDELINES ............................................................................ 5
YOUR LECTURER ................................................................................................................................. 5
YOUR TUTOR ......................................................................................................................................... 5
STUDY LOAD .......................................................................................................................................... 5
METHOD OF INSTRUCTION .............................................................................................................. 5
GETTING STARTED .............................................................................................................................. 6
TUTORIAL QUESTIONS....................................................................................................................... 6
TABLE OF SUBJECT ORGANISATION............................................................................................. 7
METHOD OF ASSESSMENT .............................................................................................................. 10
EXAMINATION RULES REMINDER ............................................................................................... 10
LATE ASSESSMENT ............................................................................................................................ 11
INDIVIDUAL ASSIGNMENTS(20%) ................................................................................................. 12
MID-TERM TEST(25%) ....................................................................................................................... 13
FINAL EXAM (50%) ............................................................................................................................. 15
PARTICIPATION(5%) ......................................................................................................................... 17
OVERALL GRADE ............................................................................................................................... 18
POLICY ON PLAGIARISM ................................................................................................................. 19

GENERAL INFORMATION

Subject Code: AF2108 Credit: 3

School: Accounting and Finance, Level 7, LKS Tower (M)

Team Member Telephone Email

WONG*
Josephine 2766-4372 [email protected]
CHAN Wai Ho, Wilson 9201-3047 [email protected]
DENG Haowen Gibson 5498-0580 [email protected]

LI Lei, Renee 6583-8615 [email protected]

OBIRI-YEBOAH [email protected]
Emmanuel 6554-0030

SUN Yicheng, Paula 5224-4811 [email protected]

ZHUANG Lei, Harry 5971-7065 [email protected]

* Mass lectures

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Financial Accounting Subject Outline

AIM

This subject aims to enable students to prepare and analyze financial reports, and process
a foundation of financial accounting skills and knowledge, on which to base the process
of continuous professional development. It also enhances student to understand the
implications of advanced technologies in different phases of the accounting cycle and the
identification of ethical issues with respect to the application of latest technologies in
business contexts.

SUBJECT LEARNING OUTCOMES

On successfully completing this subject, students will be able to:

a. Explain the role and importance of accounting information in assisting decision-

making in a business context.
b. Apply the financial accounting conceptual framework in the recording, processing,
summarizing and reporting phases of the accounting cycle, and to prepare and
analyse financial reports for organization (BBA Outcome 7a).
c. Evaluate the assumptions, principles and conventions underlying financial
accounting processes.
d. Identify and resolve accounting related ethical issues with respect to the application
of latest technologies as they arise (BBA Outcome 4a).
e. Apply appropriate analytical tools for the interpretation of financial statements and
demonstrate an understanding of the implications of advanced technologies in
different phases of the accounting cycle.

PROGRAMME OUTCOMES

This subject contributes to the achievement of BBA Outcomes by enabling students to

analyse financial reports (Outcome 7a), and process a foundation of financial accounting
skills and knowledge, on which to base the process of continuous professional
development (Outcome 11). It also contributes to the understanding of the implications of
advanced technologies in different phases of the accounting cycle and the development of
ethical reasoning in the business setting (Outcome 4a).

ONLINE COURSE MATERIAL AND INFORMATION

General information and study materials for the subject are available online through the
university’s Blackboard LEARN@PolyU (“Bb”) web Page (https://learn.polyu.edu.hk/).
These include lecture notes, assignments, tutorial questions and answers and videos for
demonstration, and continuous assessment marks which will be put on Bb under the “My
Grades” as the semester progresses. You should access the page regularly for
announcements.

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Financial Accounting Subject Outline
TEXTBOOKS AND SOFTWARE (To be purchased)

Weygandt, Kimmel and Kieso, Weygandt, Kieso and Kimmel, Financial Accounting with
International Financial Reporting Standards, 5th edition, 2022, Wiley.

(ISBN: 978-1-119-78700-6, or Print Copy ISBN: 978-1-119-78705-1).

RECOMMENDED REFERENCES

Williams, Haka, Bettner, Carcello, Financial Accounting, 18th edition, 2020, McGraw-
Hill.

Ferrell, Fraedrich and Ferrell, Ethical Decision Making in Business, 12th edition, 2018,
Cengage (for business ethics).

Harrison, Horngren, Thomas, Suwardy, Financial Accounting International Financial

Reporting Standards, 11th edition, 2020, Pearson.

IMPORTANT COMMUNICATION GUIDELINES

For any questions related to assignments, the mid-term test, or the final examination,
please direct your inquiries to me, Josephine Wong, rather than to the tutors. This approach
ensures that all students receive consistent and fair information, as some tutorials are
conducted by me while others are led by different tutors.

For transparency and clarity, I may also make announcements addressing any common
questions or concerns raised by students.

For past exam paper answers, please note that they will not be released, and therefore, no
questions or answers regarding past exam papers will be discussed or replied to by any
members of the teaching team.

Thank you for your cooperation!

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Financial Accounting Subject Outline
YOUR LECTURER

As we progress through the Financial Accounting course, it is crucial to understand

that the concepts introduced in the early weeks serve as the foundation for the more
advanced topics that will follow. If you encounter any difficulties or uncertainties
while learning these initial concepts, I encourage you to reach out to me, Josephine
Wong as early as possible. Addressing any questions or challenges promptly will help
ensure your success in this course and enhance your understanding of the material.
Please don’t hesitate to contact me, the lecturer via email or during office hours; I am
here to support your learning journey.

YOUR TUTOR

At the beginning of the semester, you will be assigned a tutor, who is responsible for your
learning progress and who will assist you with any problems or difficulties you may have
with the unit. Do not be reluctant to contact your tutor or feel you are imposing on his/her
time. Tutors are always willing and happy to assist students, and you should get into the
habit of regular contact with your tutor in the tutorials or within his/her consultation hours
or through appointment so that you become a person to the tutor and not just a number and
name.

STUDY LOAD

You are recommended to spend at least seven hours of study per week on Financial
Accounting. You should not treat the subject as a mere bookkeeping exercise and should
remember that an understanding of relevant accounting theory and standards is crucial to
your success in this subject. You must ensure that you fully understand each topic prior
to proceeding to the next one.

Much of the work covered in this subject is of a practical and theoretical nature. The more
assigned problems / exercises you attempt, the greater your understanding will be. You
should evaluate your comprehension of the topic by doing the tutorial questions listed on
pages 7. This tests your understanding of the material and indicates the areas that need
further study.

METHOD OF INSTRUCTION

Study of this subject is by a combination of:

1) Guided private study, comprising of:

• reviewing the recorded lecture again after attending the face-to-face lecture
• watch the overview videos and videos for demonstration of tutorial questions
• working on tutorial questions
• reviewing of the suggested solutions to tutorial questions
• reading of study text

2) Class contact, including lectures, tutorials, emails and face to face consultations.

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Financial Accounting Subject Outline

GETTING STARTED

You should begin reading the relevant materials as soon as you can. I suggest that you
should watch the overview videos, google the accounting terms before the lecture classes.
You should try to complete the reading of relevant materials on this outline before
attending those lectures.

TUTORIAL QUESTIONS

Students should attempt tutorial questions after the lecture of the relevant topic and
complete the questions before the tutorial classes according to the tutorial schedule(see pp.
17) The tutorial questions and solutions are posted to the Bb. Students should try their
best to start working on those problems in italic and bold (see pp. 7) and check with the
solutions before the tutorial classes. Videos are provided for some selected tutorial
questions Consult your lecturer/tutor directly in the tutorial class / email or according to
the arrangement of your tutor if you have problems on doing those questions.

EXTRA QUESTIONS (only for students who want to do more exercise)

For those questions, exercises and problems on the textbook but NOT designated as
tutorial questions, check figures are available on the book (in blue colour right next to
exercises and problems).

However, please refrain from requesting copies of detailed answers to these extra
questions, as such requests cannot be accommodated due to copyright issues.
Additionally, please note that discussions regarding these extra questions will not be
permitted during tutorial classes, as these sessions are specifically focused on the
selected tutorial questions that all students are expected to work on. If you choose to
work on extra questions, kindly do not bring them to class for discussion since not all
students will have completed them. You may send the questions, exercises and
problems on the textbook together with your own detailed workings and your questions
on the part that you do not understand by email to the subject lecturer for consultation.
Thank you for your understanding and cooperation!

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Financial Accounting Subject Outline
TABLE OF SUBJECT ORGANISATION

A tentative summary of the subject organisation and structure is presented below. It

provides you with a listing of the subject requirements. Note that some topics require more
time to complete than others.
Key:
WKK - Weygandt, Kieso and Kimmel, Financial Accounting, IFRS edition, 4th
edition
Ch - Chapter

TUTORIAL
LECTURE TOPIC READING
QUESTIONS

1 Introduction to Financial WKK Ch 1 1-1, 1-2, 1-3,

(5 Sept,6 Sept) Accounting: 1-4, 1-5, 1-6,
What is accounting; 1-7
Entity concept; Measurement
principle; Accounting equation;
Nature of business transactions;
Effects of business transactions on
accounting equation.

2 Use of Financial Statements WKK Ch 1 and 4 2-1, 2-2, 2-3,

(12 Sept,13 Sept) and Introduction to 2-4, 2-5, 2-6
Business Ethics:
Use of Financial Statements;
Classified Statement of financial
position;

Introduction to Business Ethics;

Solving Ethical Dilemma;
Psychological Approach.

3 Recording Business WKK Ch 2 3-1, 3-2, 3-3,

(19 Sept,20 Sept) Transactions: Double entry 3-4, 3-5, 3-6,
system; Ledgers and journals; 3-7, 3-8, 3-9
Posting; Trial Balances.

4 The Adjusting Process and WKK Ch 3 and 4 4-1, 4-2, 4-3,

(26 Sept,27 Sept) Completing the Accounting 4-4, 4-5, 4-6,
Cycle: Adjusting process; 4-7, 4-8, 4-9,
Accounting period concept, Accrual 4-10
principle; Use of worksheet;
Distinction between permanent and
temporary accounts; Closing
accounts.

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Financial Accounting Subject Outline

TUTORIAL
LECTURE TOPIC READING
QUESTIONS

5 Merchandising Operations: WKK Ch 5 5-1, 5-2, 5-3,

(3 Oct, 4 Oct) Nature of merchandise operations; 5-4, 5-5, 5-6,
Accounting records for 5-7, 5-8
merchandise operations; Periodic
and Perpetual inventory systems.

6 Merchandise Inventory: WKK Ch 6 6-1, 6-2, 6-3,

(10 Oct, 18 Oct) Inventory recording systems; 6-4, 6-5, 6-6,
Determining inventory quantities; 6-7, 6-8, 6-9,
Cost flows methods, Effects of
inventory valuation on financial
6-10
statements.

Mid term test

7 Cash and Accounts WKK Ch 7 and 8 7-1, 7-2, 7-3,

(24 Oct, 25 Oct) Receivable: Internal controls; 7-4, 7-5, 7-6,
Petty cash system; Bank 7-7, 7-8, 7-9
reconciliation; Accounts
Receivables.

9 Notes Receivable and Plant WKK Ch 8, 9 and 9-1, 9-2, 9-3,

(31 Oct, 1 Nov) Assets: Notes receivable; Interest 10 9-4, 9-5, 9-6,
calculation; Acquisition cost; 9-7, 9-8, 9-9
Capital and revenue expenditures;
Depreciation methods; Revision of
depreciation; Disposal of plant
assets.
Liabilities: Identify major types
of current liabilities; Notes
payable; Current portions of long-
term debt.

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Financial Accounting Subject Outline

TUTORIAL
LECTURE TOPIC READING
QUESTIONS

10 Corporations: WKK Ch 11 10-1, 10-2,

(7 Nov / 8 Nov) Organization, Shares 10-3, 10-4,
Transactions and 10-5, 10-6,
Dividends: Introduction to 10-7, 10-8,
corporation and the regulatory
environment; Accounting for
equities of corporation.

Financial Statement
11 Analysis: Purposes of financial WKK Ch 14 11-1, 11-2,
(14 Nov / 15Nov) statements analysis, Tools of 11-3, 11-4,
analysis, Basic ratios computations 11-5, 11-6,
and their interpretation.
11-7, 11-8,
11-9, 11-10

12 The Statement of Cash WKK Ch 13 12-1, 12-2,

(21 Nov / 22 Nov) Flows: Usefulness of the 12-3, 12-4,
statement of Cash Flows; 12-5, 12-6,
Distinguish among operating; 12-7
investing and financing activities;
Direct and indirect method;
Analyze the statement.

8 Subsidiary Ledgers, Special

(28 Nov / 29 Nov) Journals and Advanced WKK Appendix G
technologies: Accounting
information system; Use of
subsidiary ledgers and Special
journals.
Advanced technologies

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Financial Accounting Subject Outline
METHOD OF ASSESSMENT

The assessment consists of three (3) components, as follows:

Individual Assignments (CA 1 & 2) 20%

Mid-Term (CA 4) Test and Final Examination 75%
Participation (CA3) 5%

TOTAL 100 %

Continuous Assessment (CA) 50%

2.Individual Assignments
20%

3. Participation 5%

4. Mid-term test (closed book)

25%

Final Examination (closed book)

50%

Total 100 %

Examination Rules Reminder (applicable to both mid-term test and final

examination):

I urge all students to carefully read the student handbook regarding examination rules
before the mid-term test.

You can find the relevant section on pages 37-40: Section 6. Assessment - E Code of
Examinations:

https://www.polyu.edu.hk/ar/docdrive/polyu-students/student-
handbook/Student_Handbook_2024-25_English.pdf

In the past, some students have underestimated the consequences of misconduct in

mid-term test and did not pay attention to the rules.

Here are just a few examples of such violations: reading the exam paper before the
invigilator's announcement, using their mobile phones (even just to check the time),
failing to stop writing after the invigilator's announcement, and bringing unauthorized
materials into the exam venue without following proper instructions.

These examples illustrate the seriousness of the rules: violations can lead to failing the
entire subject (not just the mid-term component), being placed on probation, having
violations recorded on your transcript, and being ineligible to apply for scholarships or
exchange programs. Please take these regulations seriously to ensure a fair and
successful examination experience and a happy learning journey.

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Financial Accounting Subject Outline

Late Assessment

If you have been absent from an examination or are unable to complete all assessment
components of a subject because of illness, injury or other unforeseeable reasons, you
may apply for a late assessment. Application in writing should be made to the Head of
Department offering the subject within five working days from the date of the
examination, together with any original supporting documents such as a medical
certificate.

Approval of applications for late assessment and the means for such late assessments
shall be given by the Head of Department offering the subject or the Subject Teacher
concerned, in consultation with the Programme Leader.

The University reserves the right to verify the supporting documents submitted by
students. If it is found that false document has been provided, the students concerned
may be subject to disciplinary action(s). In case you are permitted to take a late
assessment, that examination or other forms of assessment will be regarded as a first
assessment and the actual grade attained will be awarded. You can find the relevant
section on page 41.

Below is the extract from Penalties for Offences in student handbook (pages 70-72):

Students should be reminded that alleged forgery cases may be referred to Student
Disciplinary Committee for consideration. Appropriate disciplinary actions, depending
on the seriousness of the case, will be taken against students found guilty of such
offence.

Penalties may include:

• disqualification of results
• community service
• disciplinary probation, which could lead to the termination of hall residence
and scholarship
• suspension of studies, and even
• expulsion

Forgery is also a criminal offence in Hong Kong that can result in imprisonment. The
University will reserve the right to report such cases to the police.

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Financial Accounting Subject Outline

INDIVIDUAL ASSIGNMENTS (20%)

Due dates: Assignment One – 13 Oct, 2024, Sunday 23:58

Assignment Two – 17 November 2024 Sunday 23:58

Assignment One (5%) and Assignment Two (15%)

The assignments require demonstration of knowledge in the application of the financial

accounting framework. Students are also expected to prepare financial statements for a
company. Financial statements include statement of financial position, income statement
and statement of retained earnings. The assignments will draw on knowledge from the
recording, processing, summarizing and reporting phases of accounting cycle as well as
assumptions, principles and conventions underlying the preparation of financial
statements gained while doing the tutorial questions.

The details of the assignment one/two will be released on Bb on 28 Sept 2024 / 9 Nov
2024.

Students have to submit by inputting the required items into the test page of the Bb on
or before the due dates above. No submission of Assignments via channel other than
blackboard will be accepted.

Assessment:

Level of Performance
Criteria
Fail Pass Satisfactory Good Excellent
Application of Does none or few of Does some of the Does many of the Does almost all of Does all of the
Financial the following: following: following: the following: following:
Accounting Appropriately Appropriately Appropriately Appropriately Appropriately
Conceptual record, process and record, process and record, process record, process and record, process
Framework summarize the summarize the and summarize summarize the and summarize
and accounting accounting the accounting accounting the accounting
Preparation of information; all information; all information; all information; all information; all
financial amounts of items amounts of items amounts of items amounts of items amounts of items
statements are properly are properly are properly are properly are properly
classified, presented classified, presented classified, classified, presented classified,
in the financial in the financial presented in the in the financial presented in the
statements and statements and financial statements and financial
calculation of items calculation of items statements and calculation of items statements and
is correct. is correct. calculation of is correct. calculation of
items is correct. items is correct.

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Financial Accounting Subject Outline

MIDTERM TEST (25 %)

Date: 10.00 am to 12:00 noon on 20 Oct 2024 Sunday

Duration: 2 hours
Venue: To be announced
Topics covered: Lectures 1 to 4

This is a closed book examination. It consists of Section A: a comprehensive computation

question (40 marks) Section B: short questions (20 marks) &Section C: a mini case study
(40 marks) requiring the application of a decision framework to arrive at an alternative
on accounting related ethical dilemma(s). It will draw on reasoning and decision-making
skills gained in lecture/tutorial class discussion.

1.The purpose of this test is to expose you to a comprehensive accounting cycle that
integrates the business events, accounting concepts, procedures, and records.
In general, completion of this test should ensure a great appreciation of the following:

(a) the steps required in a typical accounting cycle;

(b) month-end adjustments; and
(c) how the accounting cycle culminates in the production of monthly financial reports.

2.Explain the role and importance of accounting information in assisting decision

making in a business context.

3. Evaluate the assumptions, principles and conventions underlying financial

accounting processes.

Level of Performance
Criteria
Fail Pass Satisfactory Good Excellent
Application of Does none or few of Does some of the Does many of the Does almost all of Does all of the
Financial the following: following: following: the following: following:
Accounting Appropriately Appropriately Appropriately Appropriately Appropriately
Conceptual record, process and record, process and record, process record, process and record, process
Framework summarize the summarize the and summarize summarize the and summarize
and accounting accounting the accounting accounting the accounting
Preparation of information; all information; all information; all information; all information; all
financial amounts of items amounts of items amounts of items amounts of items amounts of items
statements are properly are properly are properly are properly are properly
classified, presented classified, presented
classified, classified, presented classified,
in the financial in the financial presented in the in the financial presented in the
statements and statements and financial statements and financial
calculation of items calculation of itemsstatements and calculation of items statements and
is correct. is correct. calculation of is correct. calculation of
items is correct. items is correct.
Understanding Demonstrates Demonstrates Demonstrates Demonstrates good Demonstrates
the role and inadequate marginal satisfactory achievement of excellent
importance of achievement of achievement of achievement of intended subject achievement of
accounting intended subject intended subject intended subject learning outcomes. intended subject
learning outcomes learning outcomes learning outcomes Demonstrate a good learning outcomes.
Evaluate the through a lack of and understanding and understanding of all Demonstrate an
assumptions, knowledge and/or of the relevant understanding of relevant knowledge excellent
principles and understanding of the knowledge and the relevant and concepts understanding of
conventions subject matter. concepts involved knowledge and involved. all relevant
Display a poor concepts involved. knowledge and
understanding of the concepts involved.
concepts involved.

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Financial Accounting Subject Outline
4. Identify and resolve accounting related ethical issues with respect to the application
of latest technologies as they arise.

Performance Grade Criteria

▪ Demonstrates excellent achievement of intended subject
learning outcomes by being able to skillfully use concepts and
solve complex problems.
▪ Shows evidence of innovative and critical thinking in
A+ unfamiliar situations, and is able to express the synthesis or
Excellent A application of ideas in a logical and comprehensive manner.
A- ▪ Demonstrate an excellent understanding of all relevant
knowledge and concepts involved.
▪ Perform exceptionally well in integrating information from
various sources and analyzing the assigned case or issue.
▪ Write exceptionally clearly without English errors.
▪ Demonstrates good achievement of intended subject learning
outcomes by being able to use appropriate concepts, and
solve problems.
▪ Shows the ability to analyse issues critically and make well-
grounded judgements in familiar or standard situations, and is
B+
able to express the synthesis or application of ideas in a
Good B
logical and comprehensive manner.
B-
▪ Demonstrate a good understanding of all relevant knowledge
and concepts involved
▪ Perform well in integrating information from various sources and
analyzing the assigned case or issue.
▪ Write clearly with limited English errors
▪ Demonstrates satisfactory achievement of intended subject
learning outcomes by being able to solve relatively simple
problems.
▪ Shows some capacity for analysis and making judgements in
a variety of familiar and standard situations, and is able to
C+
express the synthesis or application of ideas in a manner that
Satisfactory C
is generally logical but fragmented.
C-
▪ Demonstrate a basic understanding of the relevant knowledge
and concepts involved.
▪ Show satisfactory performance in integrating information from
various sources and analyzing the assigned case or issue.
▪ Write clearly but with a notable number of English errors.
▪ Demonstrates marginal achievement of intended subject
learning outcomes by being able to solve relatively simple
problems.
▪ Can make basic comparisons, connections and judgments
and express the ideas learnt in the subject, though there are
D+
Pass frequent breakdowns in logic and clarity.
D
▪ Display a minimum understanding of the knowledge and
concepts involved.
▪ Show marginally acceptable performance in integrating
information and analyzing the assigned case or issue.
▪ Write in unclear manner and/or with a lot of English errors.
▪ Demonstrates inadequate achievement of intended subject
learning outcomes through a lack of knowledge and/or
understanding of the subject matter.
Fail F ▪ Evidence of analysis is often irrelevant or incomplete.
▪ Display a poor understanding of the concepts involved.
▪ Perform poorly in integrating information and analyzing the
assigned case or issue.

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Financial Accounting Subject Outline
FINAL EXAMINATION (50%, 100 marks)

Topics covered: Lectures 1 - 12

Section A Interpretation of Financial Statements (10%, 20 marks)

This section requires demonstration of knowledge of the theory and practice of financial
statement analysis. Students will be expected to read parts of the financial statements of
a company and use the decision tools to interpret them. The questions will draw on
knowledge and skills gained while doing the tutorial questions and revision exercise.

Section B Statement of Cash Flows (10%, 20 marks)

This section requires demonstration of knowledge on the preparation of statement of cash

flows. Students will be expected to read parts of the financial statements of a company
and extract relevant information to prepare the statement of cash flows either using direct
or indirect method. The questions will draw on knowledge and skills gained while doing
the tutorial questions and revision exercise.

Section C Application of the financial accounting conceptual framework and

preparation of Financial Statement (20%, 40 marks)

This section requires demonstration of knowledge in the application of the financial

accounting framework. Students are also expected to demonstrate the knowledge of how
to prepare accounting records and financial statements for a company(ies). Financial
statements include statement of financial position, income statement and statement of
retained earnings. The questions will draw on knowledge from the recording, processing,
summarizing and reporting phases of accounting cycle as well as assumptions, principles
and conventions underlying the preparation of financial statements gained while doing
the assignments and the tutorial questions.

Section D Understanding the implications of advanced technologies in different

phases of the accounting cycle (10%, 20 marks)

This section requires demonstration of knowledge in understanding of the implications of

advanced technologies in different phases of the accounting cycle.

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Financial Accounting Subject Outline
Level of Performance
Criteria
Fail Pass Satisfactory Good Excellent
Interpretation Cover none or few Cover some of the Cover many of the Cover almost all of Cover all of the
of financial of the following: following: following: the following: following:
statement Appropriate use of Appropriate use of Appropriate use Appropriate use of Appropriate use of
tools and ratios; tools and ratios; of tools and tools and ratios; tools and ratios;
thoughtfully analyse thoughtfully analyse ratios; thoughtfully analyse thoughtfully analyse
and evaluate the and evaluate the thoughtfully and evaluate the and evaluate the
data; appropriate data; appropriate analyse and data; appropriate data; appropriate
presentation; presentation; evaluate the data; presentation; presentation;
reasonable reasonable appropriate reasonable reasonable
conclusion. conclusion. presentation; conclusion. conclusion.
reasonable
conclusion.
Statement of All amounts of All amounts of All amounts of All amounts of All amounts of
Cash Flows items are properly items are properly items are properly items are properly items are properly
classified and classified and classified and classified and classified and
calculation of items calculation of items calculation of calculation of items calculation of items
is correct; all or is correct; more items is correct; is correct; no more is correct; none of
many of the above than two of the one or two of the than one of the the above elements,
elements missing, above elements above elements above elements provide additional
provide additional missing, provide missing, provide missing, provide insight into a
insight into a additional insight additional insight additional insight company’s cash
company’s cash into a company’s into a company’s into a company’s generating ability
generating ability cash generating cash generating cash generating missing,
ability ability ability
Application of Does none or few of Does some of the Does many of the Does almost all of Does all of the
Financial the following: following: following: the following: following:
Accounting Appropriately Appropriately Appropriately Appropriately Appropriately
Conceptual record, process and record, process and record, process record, process and record, process and
Framework summarize the summarize the and summarize summarize the summarize the
and accounting accounting the accounting accounting accounting
Preparation of information; all information; all information; all information; all information; all
financial amounts of items amounts of items amounts of items amounts of items amounts of items are
statements are properly are properly are properly are properly properly classified,
classified, presented classified, presented classified, classified, presented presented in the
in the financial in the financial presented in the in the financial financial statements
statements and statements and financial statements and and calculation of
calculation of items calculation of items statements and calculation of items items is correct.
is correct. is correct. calculation of is correct.
items is correct.
Understanding Demonstrates Demonstrates Demonstrates Demonstrates good Demonstrates
the role and inadequate marginal satisfactory achievement of excellent
importance of achievement of achievement of achievement of intended subject achievement of
accounting intended subject intended subject intended subject learning outcomes intended subject
and learning outcomes learning outcomes learning outcomes by being able to use learning outcomes
conceptual through a lack of by being able to by being able to appropriate by being able to
framework knowledge and/or solve relatively solve relatively concepts, and solve skillfully use
and the understanding of the simple problems. simple problems. problems. concepts and solve
implications subject matter. Can make basic Shows some Shows the ability to complex problems.
of advanced Evidence of comparisons, capacity for analyse issues Shows evidence of
technologies analysis is often connections and analysis and critically and make innovative and
in different irrelevant or judgments and making well-grounded critical thinking in
phases of the incomplete. express the ideas judgements in a judgements in unfamiliar
accounting Display a poor learnt in the subject, variety of familiar familiar or standard situations, and is
cycle understanding of the though there are and standard situations, and is able to express the
concepts involved. frequent situations, and is able to express the synthesis or
breakdowns in logic able to express synthesis or application of ideas
and clarity. the synthesis or application of ideas in a logical and
Display a minimum application of in a logical and comprehensive
understanding of ideas in a manner comprehensive manner.
the knowledge and that is generally manner. Demonstrate an
concepts involved. logical but Demonstrate a good excellent
fragmented. understanding of all understanding of all
Demonstrate a relevant knowledge relevant knowledge
basic and concepts and concepts
understanding of involved. involved.
the relevant
knowledge and
concepts involved.
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Financial Accounting Subject Outline

TUTORIAL PARTICIPATION (5%)

To encourage students participate in tutorials, a maximum of five points are awarded for
such purpose. Note that merely attending tutorial sessions is not considered as
participation. Students are required to attend all the tutorial classes face to face and
participate actively throughout the semester.

Tutorial
Schedule
Monday Tuesday Wednesday Thursday Friday
Semester Week
1 Intro Intro Intro Intro Intro
2 Topic 1 Topic 1 Topic 1 Topic 1 Topic 1
3 Topic 2 Topic 2 Topic 2* Topic 2 Topic 2
4 Topic 3 Topic 3 Topic 3 Topic 3 Topic 3
5 Topic 4 Topic 4* Topic 4 Topic 4 Topic 4
6 Topic 5 Topic 5 Topic 5 Topic 5* Topic 5
7 REVISION REVISION REVISION REVISION REVISION
8 Topic 6 Topic 6 Topic 6 Topic 6 Topic 6
9 Topic 7 Topic 7 Topic 7 Topic 7 Topic 7
10 Topic 9 Topic 9 Topic 9 Topic 9 Topic 9
11 Topic 10 Topic 10 Topic 10 Topic 10 Topic 10
12 Topic 11 Topic 11 Topic 11 Topic 11 Topic 11
13 Topic 12 Topic 12 Topic 12 Topic 12 Topic 12
• For tutorial class fall on public holiday students can choose to attend any tutorial class for that
week.
Assessment:
Mere attendance will earn only a minimal score of 2.5%, which is the maximum for
attending at least 80% of all classes after the add-drop period (weeks 1 and 2). Students
are expected to attend a minimum of 8 tutorial classes on time (late for ten minutes or
more for a tutorial class will not be accounted for attendance scores) from weeks 3 to
13 to achieve the full attendance score of 2.5%.

Participation marks are awarded for active engagement in class discussions, and
students are expected to participate in every class. To earn the full participation score
of 2.5%, students must actively participate in at least five classes.

In the event of illness, please submit the original copy of your sick leave certificate
together with the Form AR8 to the Departmental Enrolment Liaison Officer in person.
If you encounter exceptional circumstances that prevent you from attending the
required tutorial classes or meeting the participation requirement, please submit the
original copy of the supporting document together with the Form AR 8 to the
Departmental Enrolment Liaison Officer. Thank you for your understanding and
commitment to your learning!

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Financial Accounting Subject Outline

Performance Grade Criteria

A+ ▪ Attend all classes and actively participate in class discussions
Excellent A with significant contribution towards the class discussion and
A- survey
B+ ▪ Attend most of the classes and actively participate in class
Good B discussions with some contribution towards class discussion and
B- survey.
C+
Satisfactory C ▪ Attend most of the classes with some class participation.
C-
D+
Pass ▪ Attend most of the classes with minimal class participation.
D

▪ Did not attend most of the classes or no notable class

Fail F
participation

OVERALL GRADE

The table below illustrates how the overall grade will be awarded according to the
achievement of intended learning outcomes.

Performance Grade Criteria

▪ Demonstrates excellent achievement of intended subject
learning outcomes by being able to skillfully use concepts
A+
and solve complex problems.
Excellent A
▪ Shows evidence of innovative and critical thinking in
A-
unfamiliar situations, and is able to express the synthesis or
application of ideas in a logical and comprehensive manner.
▪ Demonstrates good achievement of intended subject
learning outcomes by being able to use appropriate
B+ concepts, and solve problems.
Good B ▪ Shows the ability to analyse issues critically and make well-
B- grounded judgements in familiar or standard situations, and
is able to express the synthesis or application of ideas in a
logical and comprehensive manner.
▪ Demonstrates satisfactory achievement of intended subject
learning outcomes by being able to solve relatively simple
C+ problems.
Satisfactory C ▪ Shows some capacity for analysis and making judgements
C- in a variety of familiar and standard situations, and is able to
express the synthesis or application of ideas in a manner
that is generally logical but fragmented.
▪ Demonstrates marginal achievement of intended subject
learning outcomes by being able to solve relatively simple
D+ problems.
Pass
D ▪ Can make basic comparisons, connections and judgments
and express the ideas learnt in the subject, though there are
frequent breakdowns in logic and clarity.
▪ Demonstrates inadequate achievement of intended subject
learning outcomes through a lack of knowledge and/or
Fail F
understanding of the subject matter.
▪ Evidence of analysis is often irrelevant or incomplete.

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Financial Accounting Subject Outline
POLICY ON PLAGIARISM

Plagiarism refers to the act of using the creative works of others (e.g. ideas, words,
images or sound, etc) in one’s own work without proper acknowledgement of the source.

The University views plagiarism, whether committed intentionally or because of

ignorance or negligence, as a serious disciplinary offence. Details of PolyU’s approach
to plagiarism and the penalties which would be imposed are available in the Student
Handbook. For more information about plagiarism and referencing system, please refer
to: https://www.polyu.edu.hk/ogur/academic_integrity/Plagiarism_Booklet.pdf

THIS SUBJECT OUTLINE IS SUBJECT TO CHANGE UNDER

CIRCUMSTANCES.

END OF SUBJECT OUTLINE

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