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Qingdao University Financial Accounting Course (ACCT 200)

 

 

All relevant information on Qingdao University Financial Accounting Course (ACCT 200) will be posted on this website.

Click to go directly to: (1) Updates, (2) Course Outline and Lecture Notes, (3) Lecture Review, (4) Course Details, or (4) Assessment Information.

Course outline can be downloaded here. For academic registry office who need the syllabus for credit transfer purposes, please email todrthomaswu@gmail.com.

 

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

Please check here for updates during the semester.

Aug 9, 2011
As discussed in class for the final examination, (a) for the leverage / solvency ratios, either total liabilities or long term liabilities (or long term debt) can be used as "total liabilities" to calculate the ratios, (b) for liquidity ratios, either average or ending accounts receivable and inventory can be used for the turnover days calculation.
   
Aug 8, 2011
Due to weather condition, there is no class on Monday August 8. The scheduled review session will be held on Tuesday August 9 and the final exam will be held on Wednesday August 10.
   
July 28, 2011
I am a little under the weather today so I have someone came to provide questions that you can do in class. Two questions were assigned, Problem 10-4A and Problem 10-5A. Please check below for answer key.
   
July 21, 2011
Class notes from the third week of classes can be downloaded below.
   
July 14, 2011
The mid-term test for the class will be held on next Tuesday July 19 at the normal class time. As mentioned in class, there will be multiple choice questions, short written type questions, and longer calculation questions. Examination policy includes, but not limiting to, students perform mid-term test based on own personal efforts, mobile phones and other communication devices not allowed, each student should have their own calculator and not shared.
   
July 14, 2011
Class notes from the second week of classes can be downloaded below.
   
July 8, 2011
Notes from the first week of classes can be downloaded below.
   
December 20, 2010
Our course will start on Monday July 4, 2011. Further information on course outline, books, and other information will be available as we approach commencement time.

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

ALL assignments, mid-term test, and final examination are INDIVIDUAL effort, meaning that you should work on your own material and any unscholarly actions prohibited by the university must be avoided. More details on what are acceptable and une acceptable behaviors can be found on university's website.

I will post ALL relevant course materials, updated information, correspondences, and relevant student questions in the UPDATES section on this page. Students are responsible to check the UPDATES section frequently on their own to ensure that they are up-to-date. I will provide the dates and topics of the updates to easier search.

The final grade is based on three parts:

Attendance and participation 10%
In-class quizzes 15%
Mid-term test 25%
Final examination 50%
Total 100%

The mid-term test and final examination can consist of true or false, multiple choice, calculation, and short answer questions. The date of the mid-term test will be announced during the course. The date of the final examination will be announced during the course. The exact date, time, and place will be announced by the school as we approach the final examination period.

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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.

Week 1 July 4, 2011
We worked on the following topics during this week:
 
  • the accounting process,
  • user of financial information,
  • relevance versus reliability,
  • principles and assumptions,
  • forms of business organization,
  • accounting transaction analysis,
  • double entry accounting system,
  • accrual basis versus cash basis accounting, and
  • accrual process.
 
 
Week 2 July 11, 2011
We worked on the following topics during this week:
 
  • accrual process,
  • sales related events like trade allowance and purchase discount,
  • return and allowances from both the buy and sell side, and
  • inventory costing methods of specific items, FIFO, LIFO and weighted cost.
 
[Download: Ex 6.1 answer key]
 
Week 3 July 18, 2011
We worked on the following topics during this week:
 
  • inventory costing methods practice question,
  • review of recording of sales and purchases related transactions,
  • mid-term test,
  • review of mid-term test questions,
  • computer systems for accounting,
  • internal controls,
  • use of petite cash, and
  • cash reconciliation.
 
 
Week 4 July 25, 2011
We worked on the following topics during this week:
 
  • cash reconciliation practice questions,
  • accounts receivables write-off and allowance,
  • capital asset cost determination, depreciation calculation, change in estimates, capital betterment and treatments, and disposal, and
  • accounts payable and contingencies.
 
   
Week 5 August 1, 2011
We worked on the following topics during this week:
 
  • review of capital asset questions from last Thursday,
  • introduction to statement of cash flow,
  • indirect and direct approach to construct cash flow from operating activities,
  • cash flow from investment activities,
  • cash flow from financing activities,
  • the use of statement of cash flow for analytical purposes,
  • horizontal analysis,
  • vertical analysis,
  • trend analysis, and
  • profitability, leverage, liquidity, efficiency, and market ratio analysis.
 
 
Week 6 August 8, 2011
We worked on the following topics during this week:
 
  • review of statement of cash flow and ratios questions posted last week,
  • final examination for course, and
  • review of final examination 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

This course outline is tentative and subject to change based on our progress. Please check the UPDATES section and table below for latest information.

Course outline can be downloaded here.

PART I. INTRODUCTION TO FINANCIAL ACCOUNTING.
Week 1 Reading: Chapter 1 to 4    
July 4, 2011 Topics: Introduction to financial accounting, analyzing and recording transactions, adjusting and preparing financial statements, completing the accounting cycle.    
  (DOWNLOAD: lecture slides)    
       
PART II. INVENTORY.
Week 2 Reading: Chapter 5 to 6    
July 11, 2011 Topics: Accounting for merchandising operations, inventory and cost of sales.    
  (DOWNLOAD: lecture slides)    
       
PART III. CASH AND INTERNAL SYSTEMS.
Week 3 Reading: Chapter 7 to 8    
July 18, 2011 Topics: Accounting information systems, cash and internal controls.    
  (DOWNLOAD: lecture slides)    
       
PART IV. ASSETS AND LIABILITIES.
Week 4 Reading: Chapter 9 to 11    
July 25, 2011 Topics: Accounting for receivables, plant assets and intangibles, current liabilities.    
  (DOWNLOAD: lecture slides)    
       
PART V. LIABILITIES AND EQUITES.
Week 5 Reading: Chapter 12 to 14    
August 1, 2011 Topics: Accounting for partnerships, accounting for corporations, long term liabilities.    
  (DOWNLOAD: lecture slides)    
       
PART VI. STATEMENT OF CASH FLOW AND FINANCIAL ANALYSIS.
Week 6 Reading: Chapter 16 to 17    
August 8, 2011 Topics: Statement of cash flow, analysis of financial statements.    
  (DOWNLOAD: lecture slides)    
       

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

Course Qingdao University
  Financial Accounting (ACCT 200)
  Course outline can be downloaded here.
   
Prerequisites  
   
Time and Location 10:50 am to 12:30 pm Monday to Thursday
   
Instructor

Dr. Thomas Wu
Email allthomasemail@gmail.com
Website http://www.drthomaswu.com (all information for this course can be found here)
Office Hours 12:30 pm to 2:30 pm Monday to Thursday by appointments only
   
Tutor TBD
Email  
Telephone  
   
Course Aims and Summary

This subject aims at providing students with a general understanding of basic accounting concepts, accounting cycle (bookkeeping), principles and their applications in some selected financial and management topics including partnerships; corporations; non-current liabilities; cash flow statement; financial performance analysis.
   
Teaching and Learning Lectures and case-based tutorial sessions will form the basis of the module delivery. Lectures will be used to present key material and to provide opportunities for students to explore and discuss the concepts. The tutorial sessions will facilitate students' understanding of how techniques are used in practice as well as incorporating the use of case study material.

There are six lecture hours and a two tutorial hour per week. Students are required to attend all lectures and tutorials. Students are expected to read the assigned reading materials (or chapters) prior to the lecture and complete their assignments before the tutorials.

In the tutorials, discussions will be based on the topics related to the materials in the preceding lectures and will be in the form of problem discussions.
   
Essential Reading Principles of Accounting, Wild, Shaw, Chiappetta, 19th Edition, McGraw-Hill
(Financial Accounting, Wild, 5th Edition, McGraw-Hill)
   
Recommended Reading Principles of Accounting, Needles, Powers, Mills, and Anderson, Houghton Mifflin Co.
Accounting Principles, Waygandt, Kieso, and Kimmel, John Wiley & Sons.
Accounting: The Basis for Business Decisions, Meigs and Meigs, McGraw Hill.
Fundamental Accounting Principles, Larson, Wild, and Chiappetta, McGraw-Hill.
   
Calculator Policy

For this course, a general purpose non-financial calculator can be used. Students who do not have ready access to a financial calculator should be able to perform all the required analysis and calculations using a general purpose non-financial calculator for the tutorials, assignments, mid-term test, and final examination.

You can also use a non-programmable financial calculator for the tutorials, assignment, mid-term test, and final examination. Common financial calculators are HP12c and TI BAII PLUS. User manual in simplified chinese and a tutorial for the HP12c can be found here and a simple tutorial for the HP12c can be found here. User manual for the TI BAII can be found here.

Regardless of the types of calculators used for this course, students are responsible for their own equipment and they cannot be shared in a quiz, test, or examination situation. As a result, students MUST bring their own calculators to each class. In addition, each student must be proficient in the use of their own equipment.

Electronic translators CANNOT be used for quiz, test, or examination situations, but they can be used during class (only with volume off) and your own study time.
   
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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