City University of Hong Kong. Information on a Gateway Education Course offered by Department of Accountancy with effect from Semester B in 2014/2015

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1 City University of Hong Kong Information on a Gateway Education Course offered by Department of Accountancy with effect from Semester B in 2014/2015 Part I Course Title: Course Code: Course Duration: Accounting in everyday life GE1222 One semester Proposed Area: (Please insert 1 for the single primary area, and 2 for the secondary area if applicable. Students will only earn credit units from the primary area.) Arts and Humanities 1. Study of Societies, Social and Business Organisations Science and Technology No. of Credit Units: 3 Level: Medium of Instruction: Medium of Assessment: Undergraduate (B1) English English Prerequisites: (Course Code and Title) None Precursors: (Course Code and Title) None Equivalent Courses: (Course Code and Title) generally none Exclusive Courses: CB2100 (Accounting I), FB2100 (Accounting I), not for Accounting major students, and also not for BBA3/BBA4 programmes.

2 Part II 1. Abstract This course is intended to provide an understanding of financial and managerial accounting for non-business majors. No prior background in business is expected. The students will learn concepts related to the measurement and presentation of accounting information on the financial statements. While not formal accounting entries will be required, students will be asked to calculate values found on the financial statements and to understand what those numbers mean. Students will also study qualitative information on the conceptual framework of financial accounting, ethics in accounting, corporate governance. Upon completion of this course, students will be able to understand and appreciate some of the elements of financial statements, identify accounting concepts in their daily lives, and understand how accounting influences societies and economies. 2. Course Aims This course aims to introduce the fundamental concepts of accounting and guide students to discover how accounting affects their life every day. Through this course, students will learn different accounting techniques with a focus on financial accounting with topics such as the trade-off between relevance and reliability, conservatism, and valuation. To encourage inter-disciplinary learning, students will be required to integrate the concepts of accounting into their own disciplinary knowledge. 3. Course Intended Learning Outcomes (s) Upon successful completion of this course, students should be able to: No. s Weighting (if applicable) 1. Demonstrate the capacity for self-directed learning by explaining how basic accounting principles relate to the student s own discipline and to the student s 2. Explain the basic methodologies and techniques of inquiry in daily life and how accounting informs those inquiries. 3. Demonstrate critical thinking skills by analysing accounting information in issues in 4. Interpret numerical data commonly found in a company s financial reports that are related to their 5. Demonstrate effective teamwork skills and oral communication skills through a group presentation. Please explain the alignment of s to the GE Programme Intended Learning Outcomes (PILOs) under Part A of the Annex to this Form.

3 4. Teaching and Learning Activities (TLAs) (designed to facilitate students achievement of the s - Some TLAs may address more than one.) Please be sure to consider how the TLAs align with the desired characteristics of GE courses (c.f. explanatory note 10). TLA No. Hours/week (if applicable) Flipped Classroom Discussions 2, 3, 4 2 The course makes use of the flipped classroom method through the use of the Echo360 technology. Formal lectures are recorded and put online for students to review prior to coming to class. Within class, students work together to solve problems in creating, understanding, and interpreting accounting information that they may encounter in their News of the Week Students will be guided in a discussion from a current news article that relates to their daily lives. Students should be prepared to do most of the discussion while the instructor leads or directs the discussion. This is meant to engage the students to express their ideas on accounting related topics. 1, 2, 3 1 Online Discussions To motivate students who are more to participate in interactive discussions, learning through online forums (e.g. Blackboard or Facebook forums) will be adopted. Students from different disciplines/majors can voice their opinions on the subject matter, learn through discussions among their peers and the instructors, and relate how accounting is integrated into the knowledge of their own disciplines. Each student will be responsible for starting one discussion and commenting on a discussion the student did not start. Group Project In groups of 4 or 5, students will present a financial analysis of the financial statements of a firm in order to make an analysis of whether the firm had good performance over the past year with an emphasis on whether the company should be added to the students MPF portfolio. 1, 3 2,3,4,5

4 5. Assessment Tasks/Activities (designed to assess how well the students achieve the s Some assessment tasks/activities may address more than one.) Type of Assessment Tasks/Activities No. Weighting (if applicable) 100% Coursework and in-class participation Class-based assessment activities: In-class mini quizzes to assess students 2,3,4 0-15% understanding and application of the topics. Remarks In-class participation in discussions. Students will be given a grade on the quality of their participation in classroom discussions. Feedback will be given on an aggregate basis and marks awarded based on the students participation. These marks will be available to the students via blackboard. 0-15% Online Assessments: Students will be required start a discussion on an observation that student makes about how accounting relates to the students own discipline. Other students will comment on that discussion. Towards the end of the semester, the student is required to write up a two page summary of the discussion the student started along with an additional analysis to enrich the discussion. To provide feedback to the student, the lecturer should comment on each discussion as it evolves. Marks will be awarded primarily on the two page summary. Midterm Exam: A midterm exam will be given to assess the students ability to interpret numerical data commonly found in a company s financial reports. Some emphasis will also be placed on analysing accounting information in decision making. 1,2,3 0-40% 2, % Group Report: Students will get together in groups to prepare a report on the financial analysis of the financial statements of a firm in order to make an analysis of whether the firm had good performance over the past year. Group Presentation: Each student will be required to present during a group presentation and individual presentation skills will be assessed. 2,3,4, % 0-30%

5 6. Grading of Student Achievement: Refer to Grading of Courses in the Academic Regulations No. 1 2 Excellent A+ A A- Demonstrate a superior grasp of accounting principles and how they relate to the student s own discipline and to the student s Demonstrate a thorough accounting information aides in decision making in Good B+ B B- Demonstrate a good grasp of accounting principles and how they relate to the student s own discipline and to the student s Demonstrate a good accounting information aides in decision making in Adequate C+ C C- Marginal Demonstrate some knowledge accounting familiarity with principles and how accounting principles they relate to the and how they relate to student s own the student s own discipline and to the discipline and to the student s student s accounting information aides decision making in D Demonstrate little accounting information aides in decision making in 3 Demonstrate excellent critical thinking skills to analyze accounting issues in Demonstrate good critical thinking skills to analyze accounting issues in critical thinking skills to analyze accounting issues in Demonstrate marginal critical thinking skills to analyze accounting issues in 4 Demonstrate excellent Demonstrate good Demonstrate marginal 5 Demonstrate excellent Demonstrate good Demonstrate some Part III Keyword Syllabus: Financial Accounting, Conceptual Framework of Accounting, Interpreting Financial Statements, Transaction Cycle, Accounting for and presenting current assets, Accounting for and presenting non-current assets, Accounting for and presenting liabilities, Accounting for and presenting owner s equity, Cash Flow Statement, Financial statement analysis. Accounting for decision making in daily life, Effects of accounting on society and economies.

6 Recommended Reading: Marshall, D.H., McManus, W.W., Viele, D.F. Accounting: What the Numbers Mean, latest edition. The McGraw-Hill Companies (New York). Weygandt, J.J., Kimmel, P.D., Kieso, D.E. Financial Accounting, IFRS Edition. Latest edition. John Wiley & Sons, Inc. (New Jersey). Collier, P.M. Accounting For Managers: Interpreting Accounting Information for Decision Making. Latest edition. John Wiley & Sons, Inc. (New Jersey). Atrill, P., McLaney, E. Accounting and Finance for Non-Specialists, latest edition. Pearson Education Ltd. (New Jersey) John Wild. Financial Accounting Information for Decisions, latest edition, McGraw-Hill Spiceland, J.D., Thomas, W., and Herrmann, D. Financial Accounting, latest edition, The McGraw-Hill Companies (New York) Online Resources: Hong Kong Institute of Certified Public Accountants: ( International Accounting Standards Board Learning Resources: (