中级财务会计英文课程教学大纲

1、中南财经政法大学会计学院school of accounting, zhongnan university of economics & law中级会计学(英文) 课程(intermediate accounting)教学大纲(syllabus)中级财务会计教学小组编写teaching team of intermediate accounting 2006年2月修订(feb.2006) course naturethis course is designed for undergraduate students majoring in accounting and auditing.

2、 it is arranged in the fourth or fifth semester. it is aimed to enhance students ability both in western accounting knowledge and professional english, and to improve competitive for their job.the teaching content and arrangements of this course should be strictly according to this teaching outline.

3、teaching objectiveafter finishing learning this course, the students are required to understand the fundamenta western accounting theory, accounting concepts and the procedures and skills in dealing with the preparation of financial statements. by comparing the major differences of accounting treatm

4、ent between u.s.a and china, the students are required to make comments on chinese and us accounting standards and make research on them. teaching contentlesson 1 the environment of financial reporting forewordsi. accounting information: users, uses, and gaap in u.s.a. 2.the development of accountin

5、g standards in u.s.a. 2.1brief history of development of accounting standards cap, apb, fasb 2. 2 financial accounting standards board (fasb)2.2.1 organization1.2.2 statements issued by fasb3. other organizations currently influencing gaap in u.s.a. 3.1 sec, aicpa, eitf, casb, irs, aaa, iasc/iasb, g

6、asb, professional organizations 3.2relationship of organizations in current standard setting environment4.ethics in the accounting environment5. comparison of the development of accounting standards in china and in u.s.a. (case)lesson 2 financial reporting: its conceptual framework1.fasb conceptual

7、framework1.1general value of framework1.2nature and components of the fasbs conceptual framework 2.objectives of financial reporting3. qualitative characteristics of accounting information3. 1 hierarchy of qualitative characteristics3.2 pervasive constraint: benefits > cost3.3 primary decision-sp

8、ecific qualities.3.3.1.relevance3.3.2. reliability 3.4 secondary decision-specific qualities- comparability and consistency3.5 threshold for recognition: materiality.4. accounting assumptions and conventions4.1 assumptions- entity, continuity (going-concern), period of time, monetary unit4. 2 conven

9、tions- historical cost, realization and recognition, matching and accrual accounting, conservatism (prudence)5. elements of financial statements5.1balance sheet asset, liability, equity5.2income statement revenue, expenses, gains, losses5. 3 statement of cash flowsoperating cash flows, investing cas

10、h flows, financing cash flows5.4statement of changes in equityinvestment by owners, distribution to owners6. comparison of accounting concepts in china and in u.s.a. (case)lesson 3 the balance sheet and statement of changes in stockholders' equity 1. interrelationship of financial statements 2.

11、elements of the balance sheet 3.measurement of the elements of the balance sheet 4. reporting classifications on the balance sheet4. 1 asset and liability classifications4. 2 conceptual guidelines for reporting assets and liabilities4. 3stockholders' equity classifications 5. limitations of the

12、balance sheet6. statement of changes in stockholders' equity ii other disclosure issues 8.reporting techniques9. balance sheet analysislesson 4 the income statement and income recognition 1. concepts of income1. 1 capital maintenance1. 2 transactional approach2. elements of the income statement3

13、. income statement content3.1 income from continuing operations 3.2 results from discontinued operations 3.3 extraordinary items3.4 effects of accounting changes3.5 earnings per share4. income statement formats4.1 single-step4.2 multiple-step5. limitations of the income statement6. income statement

14、analysis 7. comprehensive income8. conceptual issues of revenue recognition 8.1 revenue recognition criteria 8.2 e conomic substance versus legal form 8.3 transfer of risks and benefits8.4 collectibility of receivable9. revenue recognition alternatives 9.1 normal revenue recognition9. 2 revenue reco

15、gnition prior to the period of sale9. 3 revenue recognition after the period of salelesson 5 the statement of cash flows1. conceptual overview and uses of the statement of cash flows2. structure of the statement of cash flows 2.1 three categories of cash flows.2.2 supplemental disclosures3. reportin

16、g cash flow from operations3.1 operating cycle3.2 two methods 3.2.1 direct method- illustration 3.2.2 indirect method- illustration4. preparing a complete statement of cash flows a six-step process for preparing a statement of cash flows.5. using cash flow data to assess financial strengthchapter 6

17、cash and receivables i.accounting for cash1.1measurement as a current asset1.2cash and cash equivalents1.3cash management1.4petty cash system 2.bank reconciliation 3.special topics3.1electronic funds transfer systems3.2compensating balances4.receivables4.1classifications4.1.1current vs noncurrent4.1

18、.2 trade receivables4.1.3 nontrade receivables 4.2valuation issues4.2.1initial recording based on expected future cash flows4.2.2 estimation of the probability of collection 5.accounts receivable5. 1cash (sales) discounts5.2sales returns and allowances 6.valuation of accounts receivable for uncollec

19、tible accounts6.1estimated bad debts method6.1.1income statement approach6.1.2balance sheet approach 6.2recording bad debts6.3writing off uncollectible accounts6.4collection of an account previously written-off6.5direct write-off method7.generating immediate cash from accounts receivable7.1conceptua

20、l issues7.2pledging7.3assignment7.4factoring of receivables 7.5disclosure of financing agreements 8.notes receivable (short-term)lesson 7 inventories 1. classifications of inventory iii. alternative inventory systems2. 1 perpetual2. 2 periodic 3. items to be included in inventory quantities 4. deter

21、mination of inventory costs4.1items included in inventory cost.4.2discounts as reductions in cost.4.3purchase returns and allowances. 4.4summary 5. inventory valuation methods5. 1specific identification5. 2 first-in, first-out (fifo)5. 3 average cost5. 4 last-in, first-out (lifo)5. 5 comparison 6. i

22、nventory valuation at other than cost 6. 1lower of cost or market (lcm)6. 1.1 application of lcm6.1.2 conceptual evaluation of ceiling and floor6.1.3 approaches to applying lcm6.1.4 recording the reduction of inventory to market6.1.5 lcm and interim financial statements6.1.6 conceptual evaluation of

23、 lcm6.2 gross profit method6.3 retail inventory method7. effects of inventory errorslesson 8 property, plant, and equipment1.classification as property, plant, and equipment (ppe)1.1characteristics1.2evaluation of use of historical cost 2.acquisition of ppe3.assets acquired by exchange of other asse

24、ts3.1definition of nonmonetary exchange3.2dissimilar productive asset exchanges3.3similar productive asset exchanges 3.4 comparison of accounting treatments in china and in u.s.a. (case) 4.self-construction4.1interest during construction4.2fixed overhead costs 5.costs subsequent to acquisition 6.dis

25、posal of property, plant, and equipment 7.disclosure of property, plant, and equipment 8. depreciation and depletion 8.1cost allocation terms 8.2factors involved in depreciation8.3methods of cost allocation8.4conceptual evaluation of depreciation methods 8.5disclosure requirements for depreciation 8

26、.6depreciation for partial periods 8.7 depletion 9. impairment of noncurrent assets9.1impairment test9.2measurement of loss9.3conceptual evaluation lesson 9 intangibles1. accounting for intangibles1.1cost1.2amortization or impairment2.research and development (r&d)2.1definitions2.2costs included

27、 as r&d2.3cost treatment2.4conceptual evaluation of accounting for r&d costs3.identifiable intangible assets4.unidentifiable intangibles5.disclosure of intangibles5.1in period intangible assets are acquired5.2in each period company presents a balance sheet6.conceptual evaluation of accountin

28、g for intangibleslesson 10 current liabilities and contingencies1.conceptual overview of liabilities2.nature and definition of current liabilities2.1liquidation expected within a year or an operating cycle, whichever is longer2.2liquidity and financial flexibility2.3classification3.valuation of curr

29、ent liabilities4.current liabilities having a contractual amount 5.current liabilities whose amounts depend on operations 6.current liabilities requiring amounts to be estimated7.contingencies7.1definition in fasb statement no. 57.2accrual of loss contingencies7.3disclosure of loss contingencies in

30、notes to financial statements7.4disclosure of gain contingencies in notes to financial statements8.other liability classification issues8.1short-term debt expected to be refinanced8.2classification of obligations that are callable by the creditor9.presentation of current liabilities in the financial

31、 statementslesson 11 long-term liabilities and receivables1. reasons for issuance of long-term liabilities2. bonds payable2.1terms2.2bond selling prices2.3recording the issuance of bonds2.3.1 premium on bonds payable: adjunct account2.3.2 discount on bonds payable: contra account2.3.3 carrying (book

32、) value2 4.bonds issued between interest payment dates2.5amortizing discounts and premiums2.5.1 straight-line method2.5.2 effective interest method3.extinguishment of liabilities3.1bonds retired at maturity3.2bonds retired prior to maturity4.bonds with equity characteristics5.long-term notes payable

33、5. 1 notes payable issued for cash5. 2 notes payable exchanged for cash and rights or privileges5.3notes payable exchanged for property, goods, or services5.4disclosure of long-term liabilitieslesson 12 investments1.investments: classification and valuation1.1trading securities1.2available-for-sale

34、securities 1.3held-to-maturity debt securities 1.4definitions2.investments in debt and equity trading securities3.investments in available-for-sale debt and equity securities 3.1recording initial cost3.2.recording interest and dividend revenue3.3recognition of unrealized holding gains and losses3.4r

35、ealized gains (losses) on sales of securities available-for-sale 4.investments in held-to-maturity debt securities 4.1recording initial cost4.2recognition and amortization of bond premiums and discounts4.2.1 methodseffective-interest methodstraight-line method4.2.2 premium amortization

36、 reduces investment account4.2.3 discount amortization increases investment account4.3amortization for bonds acquired between interest dates4.4sale of investment in bonds before maturity 5.transfers and impairments5.1transfers of investments between categories (at fair value)5.2impairments6.disclosu

37、res 7.financial statement classification8.equity method8.1criteria for use8.2accounting procedures8.3financial statement disclosureslesson 13 contributed capital 1.introduction 2.corporate capital structure2.1definitions2.2capital stock and stockholders' rights2.3basic terminology2.4legal capita

38、l2.5additional paid-in capital 3.issuance of capital stock3.1issuance for cash3.2.stock issuance costs3.3stock subscriptions3.4combined sales of stock3.5nonmonetary issuance of stock3.6stock splits3.7stock rights to current stockholders4.preferred stock characteristics4.1preference as to dividends4.

39、2cumulative vs. noncumulative4.3participating4.4preference in liquidation4.5voting rights4.6disclosures5.contributed capital section5.1segments5.2disclosure requirementslesson 14 earnings per share and retained earnings 1.earnings and earnings per share2.conceptual overview and uses of earnings per

40、share information3.basic earnings per share3.1basic earnings per share equation 3.2numerator calculations3.2.1 noncumulative preferred stock3.2.2 cumulative preferred stock3.3denominator calculations3.4components of earnings per share4.diluted earnings per share4.1definitions4.2two presentations4.2.

41、1 basic earnings per share4.2.2 diluted earnings per share (deps)4.3computational steps4.4stock options and warrants4.5convertible securities4.6computation of tentative and final deps 5.content of retained earnings6.dividends6.1cash dividends6.2property dividends6.3scrip dividends6.4stock dividends6

42、.5liquidating dividends7.prior period adjustments 8.appropriations of retained earnings 9.statement of retained earnings9.1prior period adjustments9.2net income9.3dividends9.4other deductions 10.accumulated other comprehensive incometeaching arrangement1 time allocationthe total class hour is 51, wi

43、th 3 scores. lectures in class are divided into 4 teaching units. the time allocation for each teaching unit is as follows:teaching unitbasic contenttime allocatedpart 1financial reporting: concepts, finanicial statements, and related disclosures1 the environment of financial reporting2 financial re

44、porting: its conceptual framework 8 3 the balance sheet and the statement of changes in stockholders equity44 the income statement and income recognition 65 the statement of cash flows 5part 2financial reporting: asset measurement and income determination6 cash and receivables 47 inventories38 prope

45、rty, plant, and equipment49 intangibles3part 3 financial reporting: valuation of liabilities and investments10 current liabilities and contingencies4 11 long-term liabilities and receivables 312 investments 3part 3 financial reporting: stockholders equity13 contributed capital14 earnings per share a

46、nd retained earnings4total 512 teaching methodsthis course mainly adopts lecture in class, with the help of multimedia. we also allocates some presentations after group discussion out of classroom. it is taught either in english or in the combination of both english and chinese. 3. exam form and requirementsafter finishing the course, it will be tested in english, no matter the cour