Financial Accounting Course at Nanyang Business School, Nanyang Technological University, Exams of Accounting

Download Financial Accounting Course at Nanyang Business School, Nanyang Technological University and more Exams Accounting in PDF only on Docsity! NANYANG TECHNOLOGICAL UNIVERSITY NANYANG BUSINESS SCHOOL AD1101/AD1102 FINANCIAL ACCOUNTING Course Code AD1101/AD1102 Course Title Financial Accounting Pre-requisites Nil No of AUs AD1101-4AU; AD1102-3AU Contact Hours 3-hour seminar session x 12 sessions Course Aims This course aims to provide you with the necessary introductory accounting knowledge to understand how to use financial statement information to make economic decisions from a user perspective such as investors and creditors. In the process, you will learn to prepare a basic set of financial statements in accordance with the Singapore Financial Reporting Standards. The course also examines the impact of various accounting choices on the financial statements and the incentives that contracts based on accounting numbers can create for different stakeholders. This will help you understand why managers choose certain accounting methods and avoid others. This learning forms the foundation for further studies in areas which require accounting knowledge. Intended Learning Outcomes (ILO) Upon successful completion of this course, you should be able to: LO1. Explain the fundamental concept of accounting including the accounting equation, the double entry system and accrual accounting. LO2. Describe different elements of the financial statements i.e. income, expense, assets, liabilities and equity. LO3. Explain the importance of each element of the financial statement to an entity’s business. LO4. Explain the importance of cash in an entity’s business operations. LO5. Prepare a simple set of financial statements. LO6. Describe the business implications of financial statement information. LO7. Identify relevant business / accounting issues and recommend appropriate solutions to the issues identified. LO8. Communicate relevant financial information, both in writing and verbally, in an effective and efficient manner. Course Content  Introduction to Financial Accounting  Conceptual Framework  The Accounting Equation  Double Entry System  Accounting Information System  Accrual Accounting  Adjusting Entries  The Accounting Cycle  Preparation of Financial Statements  Revenue and other income  Valuation of Accounts Receivable  Inventories and Cost of Goods Sold  Property, Plant and Equipment (PPE)  Intangible Assets  Investment Property  Financial Asset Investments  Subsidiary and Associated Companies  Non-Controlling Interests  Current and Long-term Liabilities  Contingent Liabilities  Lease Liabilities  Deferred Taxes  Shareholder’s Equity  Dividends  Cash Flow Statements  Financial Statement Analysis Assessment (includes both continuous and summative assessment) Component % Team/Individual 1 Class participation 15 Individual 2 Team presentation 15 Team / Individual Every team member must present and will be assessed (i) individually for their presentation skills, and (ii) as a team for the content in their team’s powerpoint presentation slides 3 Practice assignment questions 10 Individual 4 Learning assessment assignment 5 Individual 5 LAMS activities 5 Individual 6 Final examination 50 Individual Total 100