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Open University of Hong Kong - B211F Introduction to Accounting I

 

 

All relevant information on Open University of Hong Kong ACT B211F Introduction to Accounting I will be posted on OUHK's OLE and here.

I can be reached at allthomasemail@gmail.com.

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UPDATES: Back to top || Updates || Course Outline and Lecture Notes || Lecture Review || Course Details || Assessment Information

Please check here for updates during the semester.

Decmeber 16, 2009 Several additional tutorial questions were distributed to you this morning. Here are their answer keys. Problem 6-2A. Problem 8-4B. Problem 9-3A.
   
Decmeber 14, 2009 We will have an extra session on Wednesday December 16, 2009 from 10am to 12pm at Room 401. We will look at the Revision Topics and do a few questions on selected chapters.
   
Decmeber 10, 2009 The following items are available for downloading below: Answer to revision topics, Chapter 10 tutorial questions answer key.
   
Decmeber 4, 2009 A set of Revision topics is available for downloading.
   
Novmeber 30, 2009 We will start on Chapter 11 on Thursday December 3, 2009.
   
Novmeber 26, 2009 Next Monday we will finish Chapter 9 and Chapter 11.
   
Novmeber 18, 2009 Updated version of the Chapter 10 lecture slides can be downloaded in the Course Outline and Lecture Notes section.
   
Novmeber 18, 2009 Quiz tomorrow Thursday November 19 in our tutorial session. The quiz will start at 10am. It will last 40 minutes and it will over Chapters 5, 6, 7, and 8.
   
Novmeber 16, 2009 Our next class will be held on Wednesday November 16 in CITA from 2pm to 6pm. We will focus on tutorial questions for Chapters 5, 6, 7, and 8.
   
Novmeber 12, 2009 The solution for Chapter 7 is available for downloading in the Assessment Information section. The mid-term quiz will be held next Thursday November 19. Chapters 5, 6, 7, and 8 will be covered. The quiz will take 40 minutes and it will start at 10am sharp. As this is the last quiz, you must attend and take your quiz in your designated tutorial session only, there is also no make up for this mid-term quiz. In other words, if you miss this quiz, you will receive zero mark for this quiz.
   
Novmeber 6, 2009 There is an updated set of slides for Chapter 9 and 10 available for downloading.
   
Novmeber 6, 2009 Tutorial questions for Chapter 9 and 10 are now available for downloading in the Assessment Information section.
   
Novmeber 5, 2009 Our next class is to be held on Thursday, November 12. As discussed in class, you will have a quiz on Thursday, November 19. Chapters 5, 6, 7, and 8 will be covered.
   
October 22, 2009 Our next class is on Wednesday, November 4 after the study week, the class will start at 2 and it will last 4 hours. The class after that would be on Thursday, November 5.
   
October 19, 2009 Our next class is on Thursday, October 22. We will work through tutorial questions in Chapter 6 before we will start on Chapter 7.
   
October 15, 2009 For class next Monday, October 19, we will start the lecture on Chapter 6. The lecture 6 slides are in the same file as the Chapter 5 slides. Then there are three groups of students doing Exercise 5-1 and Exercise 5-2 for us.
   
October 11, 2009 Tutorial questions from the textbook is available here: Chapter 5 tutorial questions, Chapter 6 tutorial questions,. Chapter 7 tutorial questions. Chapter 8 tutorial questions.
   
October 11, 2009 For our class on Thursday October 15 we will continue with Chapter 5 and Chapter 6. We will do tutorial questions Ex 5-1, 5-2, 5-4, 5-6, and Problem 5-2B. As discussed in our last class, some students will be selected to come out to the blackboard to do Problem 4-2A and 5-1A, please try these questions before coming to class.
   
October 9, 2009 Due to class time conflicts, some of our Monday classes are to be held on Wednesdays. As a result, the class on the coming Monday, October 12 was held on September 30. As a result, our next class will be on Thursday, October 15, 2009.
   
October 9, 2009 The tutorial question list for Chapters 5 to 8 was uploaded last week and it can be downloaded in the Assessment Information section. If you have the earlier edition of the textbook or if you have not bought the book yet, there is a copy of it in the CITA library that you can use. My scanner does not scan very well because of the thickness of the book.
   
October 8, 2009 I have checked with OLE tech support and they have confirmed that you should have access to the class material on OLE. If you have difficulties accessing, please contact the OLE tech support.
   
October 8, 2009 Other questions that you can try from the textbook for practice: Chapter 1 serial problem, Problem 2-1A, Problem 2-2A, Chapter 2 serial problem, Problem 3-1A, Problem 3-2A, Chapter 3 serial problem, Problem 4-2B.
   
October 8, 2009 Answers to Chapter 4 tutorial questions (except for Problem 4.2) can be downloaded here.
   
October 8, 2009 For our next class (Thursday, October 15), we will finish going through Chapter 5. We will go through the tutorial questions for Chapter 5. Then YOU will be doing Problem 4.2 from Chapter 4 and Problem 5.1B on the blackboard. So please try to do these two questions before next class.
   
October 5, 2009 For our next class on October 8, we will do the Chapter 4 tutorial problem and start on Chapter 5, so please bring the appropriate materials. In addition, please try to start the assignment early so that any questions can be answered before it is too late.
   
October 4, 2009 I have prepared some worksheets that we will use during classes in the coming sessions. They can be downloaded here for printing. Journal entry worksheet. General ledger worksheet. Trial balance worksheet. Financial statement worksheet.
   
September 30, 2009 The assignment is due on Friday, October 9 at 5pm. A box will be placed by Lisa's desk for submission.
   
September 30, 2009 New lecture slides and notes for Chapter 5 is available for downloading in the Course Outline and Lecture Notes section.
   
September 30, 2009 Tutorial questions for Chapters 5 to 8 is available for downloading in the Assessment Information section.
   
September 28, 2009 We have a make up class this coming Wednesday, September 30 from 2pm to 6pm. Please bring your book as we will work on tutorial questions from Chapter 2 and Chapter 3. We will also start on Chapter 4 and Chapter 5.
   
September 21, 2009 As discussed before, our class on Thursday September 24 has been moved to Wednesday September 30 from 2pm to 6pm. As a result, our next class will be held on Monday September 28 from 10am to 12pm.
   
September 21, 2009 For our next class on Monday September 28 please bring the tutorial questions for Chapter 2 and Chapter 3. We will finish going through Chapter 3.
   
September 17, 2009 For next Monday, please print out the tutorial questions for chapter 2 and 3 and bring them to class.
   
September 14, 2009 The accounting recording system flowchart that we discussed in class can be downloaded here. The in-class exercise can be downloaded here.
   
September 12, 2009 The lecture powerpoints for Chapter 2, 3, 4 and 5 are available for downloading and printing. The Chapter 1 tutorial questions that we did in class is also available in the Course Outline and Lecture Notes section.
   
September 9, 2009 Since the textbook has not arrived yet, you can download the question for the tutorial here until your textbook arrives. Chapter 1 tutorial questions. Chapter 2 tutorial questions. Chapter 3 tutorial questions. Chapter 4 tutorial questions.
   
September 7, 2009 The marked version of our lecture slides used today can be downloaded here.
   
September 4, 2009 The list of tutorial questions that we will do in class can be downloaded here.
   
August 28, 2009 Our first day of class will be on Wednesday, September 9, 2009 at CITA Room 501 at 2pm. Course outline can be downloaded here. There is an assignment due on October 8, 2009 and a quiz in the 11th week (exact date to be confirmed). Please see Assessment section for more details.
   
August 13, 2009

Course material and other information will be distributed on the first day of class.

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ASSESSMENT Back to top || Updates || Course Outline and Lecture Notes || Lecture Review || Course Details || Assessment Information

Course outline can be downloaded here.

Worksheets: Journal entry worksheet. General ledger worksheet. Trial balance worksheet. Financial statement worksheet

Tutorial questions for downloading: Chapter 1-4 Tutorial Questions, Chapter 5-8 Tutorial Questions, Chapter 9-10 Tutorial Questions

Tutorial questions: Chapter 1 tutorial questions, Chapter 2 tutorial questions,. Chapter 3 tutorial questions. Chapter 4 tutorial questions, Chapter 5 tutorial questions, Chapter 6 tutorial questions,. Chapter 7 tutorial questions. Chapter 8 tutorial questions, Chapter 9 tutorial questions, Chapter 10 tutorial questions

Answers to tutorial questions: Chapter 1, Chapter 2, Chapter 3, Chapter 4, Chapter 5, Chapter 6, Chapter 7, Chapter 8, Chapter 9, Chapter 10

The assessment of this course is based on:

Assignment (due October 9, 2009) 15 %
Quiz (during the 11th week, exact date to be confirmed) 15 %
Final exmination 70 %
  100 % *
* Passing of both the course score and of the final examination is required  

Continuous assessment. The continuous assessment is make up of an assignment which is due on October 9, 2009 at 17:00 and one quiz during the 11th week (exact date to be confirmed).

DOWNLOAD: Assignment

Final examination. The 3 hour final examination will make up for 70% of the total assessment of this course.

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LECTURE REVIEW Back to top || Updates || Course Outline and Lecture Notes || Lecture Review || Course Details || Assessment Information

A summary of our discussion during the lecture is provided here for your reivew.

September 7, 2009 Today we discussed the following topics:
 
  • course outline, logistics, OLE, textbooks, assignment, quiz, and final examination,
  • importance of accounting activities,
  • identifying, recording, communicating transactions and information,
  • information should be relevant, reliable, comparable,
  • list of external and internal users,
  • business entity forms - proprietor, partnership, corporation and their advantages and disadvantages,
  • principles of accounting - objectivity, cost, going-concern, monetary unit, revenue recognition, business entity,
  • the accounting equation of ASSETS = LIABILITIES + EQUITY, and
  • the use of the accounting equation to record transactions.
   
September 10, 2009 Topics discussed:
 
  • the accounting equation of ASSETS = LIABILITIES + EQUITY,
  • some practice questions on recording of transactions using the accounting equation,
  • financial statements of income statement, statement of shareholders equity, balance sheet, and statement of cash flow, and
  • how the accounting equation can be broken down into the four financial statements.
   
September 14, 2009 We discussed:
 
  • the accounting recording process,
  • source documents,
  • general ledger and chart of accounts,
  • double-entry accounting system,
  • journal recording and posting, and
  • recording of journal entries into the general ledger.
   
September 17, 2009 We talked about:
 
  • journal entries,
  • treatment when cash flow does not match transaction (early or late), and
  • depreciation of assets.
   
September 21, 2009 We went through some of the tutorial questions in Chapter 2 today. We will continue with the last one on Thursday, September 24.
   
September 28, 2009 We looked at the adjustments that are common performed at year end for financial statement preparation. Accounts involved at prepaid expenses, unearned revenue, accrued expenses, and accrued revenue. We also went through the calculation of depreciation expense. We started on tutorial questions on Chapter 3.
   
September 30, 2009 We worked through the remaining tutorial questions from Chapter 2 and Chapter 3. We have also started Chapter 4 and looked at how the income summary works.
   
October 5, 2009 We worked on the Chapter 3 tutorial problem and Chapter 4 tutorial exercise questions. We also went through Chapter 4 income summary. We have also discussed the assignment that is due this Friday.
   
October 15, 2009 We went through Chapter 5 Merchandiser and their corresponding recording of buying and selling goods, including the treatment of trade and purchase discounts, return and allowance, and how to perform closing entries.
   
October 19, 2009 We looked at inventory costing systems (a) specific identification, (b) first-in first-out, (c) last-in first-out, (d) weighted average. We also worked through Chapter 5 tutorial questions. The answer are posted below.
   
October 22, 2009 We talked a little about the assignment one. Then we worked through Chapter 6 in summary format. We started on Chapter 7 but will do more indepth discussion on November 4..
   
November 4, 2009 We went through Chapter 7 and Chapter 8 first, then worked on several of the Chapter 6 tutorial problems.
   
November 5, 2009 We worked on some of the remaining Chapter 6 tutorial problems.
   
November 12, 2009 We discussed the following today:
 
  • the quiz that will take place next Thursday,
  • assignment 1 was returned,
  • reviewed and discussed the answer and common errors in assignment 1,
  • went through remaining tutorial questions for Chapter 6, and
  • worked through some of the Chapter 7 tutorial questions.
   
November 16, 2009 Today we worked on:
 
  • tutorial questions from Chapter 7,
  • tutorial questions from Chapter 8,
  • discussed how the timing of check deposit and payment affect the accounting and bank records, and
  • characteristics of checks (like payee, amount, check cashing process).
   
November 18, 2009 Today we worked on the following items:
 
  • Chapter 6 exercises and problems on inventory recording system,
  • Chapter 8 exercises and problems on petty cash, bank reconciliation and recording entries.
   
November 19, 2009 We went through the very first part of Chapter 9 on accounts receivable, then we did the mid-term quiz.
   
November 23, 2009 We went through Chapter 9 accounts receivable and bad debt allowance material.
   
November 26, 2009 We did a quick review of payment by credit cards and the treatment of bad debt expense and allowance using both direct write-off and allowance methods. We also went through several of the tutorial questionsl.
   
November 30, 2009 Today we worked on the following topics:
 
  • distribution of the quiz,
  • went through the notes receivable and payable material,
  • treatment of note issued on discount,
  • treatment of contingent liabilities, and
  • went through tutorial questions from Chapter 9.
   
December 3, 2009 We started on Chapter 10 Capital Assets today. We looked at the calculation of depreciation amounts and did two tutorial questions on depreciation.
   
December 10, 2009 We finished Chapter 10 Capital Assets today. We looked at how change in plant asset estimates are accounted for. We have also worked through two tutorial questions.

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COURSE OUTLINE AND LECTURE NOTES Back to top || Updates || Course Outline and Lecture Notes || Lecture Review || Course Details || Assessment Information

Course outline can be downloaded here.

Tutorial questions for downloading: Chapter 1-4 Tutorial Questions, Chapter 5-8 Tutorial Questions.

Reading: Wild = Principles of Accounting, Wild, Shaw, Chiappetta, 19th Edition, 2009, McGraw Hill

Week 1 Introduction - Accounting in Business, Reading: Wild Chapter 1
September 7, 2009 [Download: lecture powerpoint slides, marked lecture powerpoint slides, tutorial question list, assignment]
  [Download: Chapter 1 tutorial questions. Chapter 2 tutorial questions. Chapter 3 tutorial questions. Chapter 4 tutorial questions]
  [Download: ch1 tutorial questions went through in class on sept 10]
  [Download: Answers to tutorial questions Chapter 1]
   
Week 2 Recording Transactions, Reading: Wild Chapter 2
September 14, 2009

[Download: lecture powerpoint slides ch 2]

  [Download: accounting recording system flowchart, in-class exercise Sept 14]
  [Download: Answers to tutorial questions Chapter 2]
   
Week 3 Adjusting Process, Reading: Wild Chapter 3
September 21, 2009 [Download: lecture powerpoint slides ch 3, in-class exercise Sept 21]
  [Download: Answers to tutorial questions Chapter 3]
   
Week 4 Closing Process, Reading: Wild Chapter 4
September 28, 2009 [Download: lecture powerpoint slides ch 4, in-class exercise Sept 28]
   
Week 5 Merchandising Operations, Reading: Wild Chapter 5
October 5, 2009 [Download: lecture powerpoint slides ch 5, notes for ch 5]
  [Download: Journal entry worksheet. General ledger worksheet. Trial balance worksheet. Financial statement worksheet]
  [Download: Answers to tutorial questions Chapter 4]
   
October 9, 2009 Assignment due at 17:00. [DOWNLOAD: Assignment]
   
Week 6 Inventories, Reading: Wild Chapter 6
October 12, 2009 [Download: Chapter 5 tutorial questions, Chapter 6 tutorial questions,. Chapter 7 tutorial questions. Chapter 8 tutorial questions]
  [Download: lecture powerpoint slides ch 6, notes for ch 6]
  [Downoad: Problem 4-2A Pic 1, Problem 4-2A Pic 2, Problem 5-1B Pic 1, Problem 5-1B Pic 2]
   
Week 7 Systems and Control, Reading: Wild Chapter 7
October 19, 2009 [Download: Answers to tutorial questions Chapter 5]
  [Download: Answers to tutorial questions Chapter 6, lecture powerpoint slides ch 7]
   
Week 8 Cash, Reading: Wild Chapter 8
November 2, 2009 [Download: lecture powerpoint slides ch 8]
   
Week 9 Accounts Receivable and Payable, Reading: Wild Chapter 9
November 9, 2009 [Download: lecture powerpoint slides ch 9 and 11
   
Week 10 Accounts Receivable and Payable, Reading: Wild Chapter 11
November 16, 2009  
   
November 19 Quiz, 40 minuties, will start at 10am sharp. On Chapters 5, 6, 7, and 8.
   
Week 11 Depreciation, Reading: Wild Chapter 10
November 23, 2009 [Download: lecture powerpoint slides ch 10]
  [Download: Notes on Chapter 9 tutorial questions from class]
   
Week 12 Plant Assets, Reading: Wild Chapter 10
November 30, 2009 [Download: Revision topics, Answers to revision topics]
   
Week 13 Plant Assets / Revision, Reading: Wild Chapter 10
December 7, 2009  

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COURSE DETAILS Back to top || Updates || Course Outline and Lecture Notes || Lecture Review || Course Details || Assessment Information

Course B211F Introduction to Accounting I
  Course outline can be downloaded here.
   
Prerequisites  
   
Time and Location  
   
Instructor Dr. Thomas Wu
Email allthomasemail@gmail.com
Website http://www.drthomaswu.com (all information for this course can be found here)
   
Course Aims and Summary  
   
Module Learning Outcomes  
   
Essential Reading Principles of Accounting, Wild, Shaw, Chiappetta, 19th Edition, 2009, McGraw Hill
   
Recommended Reading Accounting, Horngren, Harrison, Oliver, latest edition, Prentice Hall
   
Calculator Policy  
   
Financial Terms

There are specific terms that apply to accounting and finance, and there are various online sources that can help students understand these terms.

Download and print for reference:

Online finance dictionaries:

Other unverified sources of financial references:

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