《高级财务会计FA4英语》课程教学大纲.docx

高级财务会计FA4英语课程实施方案Advanced Accounting (FA4, English) SyllabusCourse InformationCourse Title:Advanced Accounting- EnglishCourse Code：ACC907Credit:4,0Credit Hours：68 hours1. Instructor, Teaching Assistant and Classroom InformationInstructors:Teaching Assistants:2. Course MaterialsAdvanced Accounting (International Edition) by Hoyle, Schaefer and Doupnik, 13th edition, McGraw-Hill, ISBN: 978-981-4714-50-1.McGraw-HillConnect System: fa4-spring-2018-slProgram Learning Goal and Program Learning ObjectiveProgram LearningGoal (PLG)Program Learning Objectives (PLO)LG1:Developgraduates who have knowledgeinspecific areasL01.1 Develop a deeper understanding of the preparation of consolidated financial statementsLO 1.2 Applying knowledge related to segment and interim reporting, foreign currency transactions, translation of foreign currency financial statements, accounting for legal reorganizations and liquidations, and partnerships.LG2:Cultivatecommunication skills and ability in cooperationLO 2.1 Improve oral communication skills and presentation skills by participating in the class discussion.LO 2.2 Improve business writing skills by writing analysis of cases.LO 2.3 Develop teamwork skills by working with other students in a team to solve problems.LG3:Developcritical thinkingLO 3.1 compare IFRS with GAAP regarding consolidation financial information. Understand the role of accounting in business world and the impact to the society.LO 3.2 Understand the underlying rationale of different approaches to deal with special issues in accounting.LG4:Developinternational vision*LO 4.1 Develop a deeper understanding of how international business transactions (e.g. global merger & acquisition, foreign currency transactions, and international segments) influence accountingrecording and reporting procedures.LO 4.2 Develop an appreciation of how IFRS differs from GAAP, the major differences between rule-based accounting system and principle-based accounting system. Understand the consequences of these diversity, in terms presentation of accounting information as well as evaluating the financial statements prepared under these two schemes.Indicates that this learning goal (LG) is the key assessment item in this courseCourse Overview and Content2.1 Course OverviewAdvanced accounting (FA4 hereafter) is designed to help students develop their knowledge and critical thinking skills in the area of financial reporting for mergers and acquisitions, segment and interim reporting, foreign currency transactions, translation of foreign currency financial statements, accounting for legal reorganizations and liquidations and partnerships. It is the fourth class in a sequence of courses dealing with financial reporting. FA4 buildings on the material covered in Principles of Accounting (FAI), Intermediate Financial Accounting II (FA2) and Intermediate Financial Accounting HI (FA3).2.2 Course ContentChaptersTitleKnowledge Point1The Equity Method of Accounting for Investments Criteria for applying the equity method of accounting Equity method journal entries2Consolidation of FinancialInformation Criteria for consolidating financial information Valuation principles of the acquisition method Journal entries for consolidating financial information Worksheets to consolidate the accounts of two companies3Consolidations - Subsequent to the Date of Acquisition Methods for a parent company to keep internal records of subsidiary investment Consolidation of financial statement according to 3 different internal records that the parent has applied Accounting for goodwill4Consolidated Financial Statements and Outside Ownership Valuation principles underlying the acquisition method of accounting for the non-controlling interest Journal entries for consolidation when non-controlling interest exists5Consolidated Financial StatementsIntra-Entity Asset Transactions Consolidation procedures to eliminate intra-entity sales and purchases balances Difference between upstream and downstream intra-entity transfers Consolidation entry to remove any unrealized gain8Segment and Interim Reporting Segment reporting Interim reporting9Foreign Currency Transactions and Hedging Foreign Exchange Risk Foreign exchange market Foreign exchange transactions Hedge accounting10Translation of Foreign Currency Financial Statement Temporal rate method Current rate method13AccountingforLegalOrganizations and Liquidations Statement of financial affairs Accounting for liquidation Accounting for reorganization14Partnerships: Formation and Operation Partnerships and alternative forms Partnership accounting-capital account Accounting for partnership dissolutionFurthermore, ideological and political education would be included in this course. We would explain supply-side reform policy, such as "three reduce, one cut and one supplement,z (capacity reduction, de-stocking, deleveraging, cost reduction and improving underdeveloped areas). Specifically, this will be introduced by the case of debt-for-equity swap of bankrupt enterprises. Meanwhile, the course is intended to arouse students' national identity.2.3 Teaching methodsFaculty will integrate teaching, presentation, as well as case report submitted.> AssignmentsEach chapter ended, homework relative to this chapter will be assigned to help you master the required knowledge. About 4 hours are needed to complete your homework of each chapter.The assistant needs to check the homework every, and arrange time to explain some of the mistakes and weaknesses that most students make at least twice a month. Moreover; the assistant should make notes about every lesson and make report about the basic situation of the homework every month.> DiscussionFor each chapter; we will choose one or two topics for discussion in class. Through the discussion, the students can master the content quickly. This can also improve the students; ability of the independent thinking.> Case study and team project presentationTo analyze the cases, students may work in a group of several class members. Each member of the group will receive the same grade on the case study. Through the case study, the students can not only improve the analysis capability, but also develop the skills about how to cooperate with each other and how to play a role in a group work.> OthersIn addition to the above, we may make use of diverse forms to stimulate the students' interests in the subject. For instance, free debate, role simulation, report analysis and so on. This depends on the course material, progress of the lecture and students feedback.2.4 Tentative Course ScheduleNote: 1. This schedule is tentative and is subject to change throughout semester.WeekLectureChapterTopic11Course Introduction &Chapter 1The Equity Method of Accounting for Investments122324Chapter 2Consolidation of FinancialInformation353647Chapter 3Consolidations - Subsequent to the Date of Acquisition4859Chapter 4Consolidated FinancialStatements and Outside Ownership510611612Chapter 5Consolidated FinancialStatementsIntra-EntityAsset Transactions713714815Chapters 1-5Review class816917Exam 1918Chapter 8Segment and Interim Reporting10191020Chapter 9Foreign Currency Transactions and HedgingForeign Exchange Risk112111221223Chapter 10Translation of Foreign Currency FinancialStatement122413251326Chapter 13Accounting for Legal Organizations and Liquidations142714281529Chapter 14Partnerships: Formation and Operation153016311632Chapters 8,9,10,13,14Case Presentation17331734Exam 26 Evaluation Method6.1 Evaluation Method of Assurance of Learning (AOL) systemLearning GoalLearning ObjectivesEvaluation MethodLG4: Develop international vision*LO 4.1 Develop a deeper understanding of how international business transactions (e.g. global merger & acquisition, foreign currencytransactions,andinternational segments) influence accounting recording and reporting procedures.1) Exam- questions related to these areas will be included in both homework and final exams. Students, answer to these questions will be used as a tool to evaluate their learning progress.2) Projects - two projects regarding these issues will be used to evaluate how students understand and apply these accounting methods to real international business environment.LO 4.2 Develop an appreciation of how IFRS differs from GAAP, the majordifferencesbetweenrule-based accounting system and principle-based accounting system. Understand the consequences of these diversity, in terms presentation of accounting information as well as evaluating the financial statements prepared under these two schemes.1) Class discussion- there will be in-class discussion about the differences between US GAAP and IFRS.2) Homework - there will be multiple choice questions and long-answer questions in the homework. Students' answer to these questions will be used as a tool to evaluate their learning progress.6.2 Student EvaluationThe course grade will be computed as follows:Exam 125%Exam 225%Project #115%Project # 215%Homework15%Attendance and Participation5%Total100%The weights given above are IDENTICAL for everyone. And according to the teaching rule of accounting department, there will be absolutely NO additional credit in this class. Final grading distribution will strictly follow the grading guideline issued by school of accounting, SWUFE. Please note that this is the tentative grading schemes and is subject to change during the semester.> Exams:We will have two exams during the semester. Exam 1 is in the eighth week of the semester and covers materials in Chapters 1-5. Exam 2 is in the sixteenth week of the semester and covers materials in Chapter 8, 9, 10, 13 and 14. Both exams are closed book, closed notes. Grading strictly follows the grading policy assigned by the school of accounting. There will be no additional credit, no allowance in grade, or any arguing about grade.> Projects:There are two group projects: One is to prepare journal entries and worksheets for a comprehensive case of consolidating financial statements (2-3 students in each group); the other is to analyze a case (related to materials covered in Chapters 8, 9, 10, 13, and 14), write a report and present it in class.> Homework:There are 10 homework assignments. All homework is due by 11:00pm on the due date. No late homework submission will be accepted. You can only submit the online homework assignments once. However, before you submit your assignment, you can check whether your answers are correct by clicking on the button that says “Check My Work”. You'll see this button towards the bottom of each page on the assignment. If an answer is incorrect, you can revise it and check it again (as many times as you want) before you submit the assignment for a grade. Thus, if you work at it, you should be able to get 100% on the homework.7. Academic Integrity and Ethical StandardsAccountants have an obligation to the public, their profession, the organization they serve, and themselves, to maintain the highest standards of professional and ethical conduct. High standards of ethics and professionalism are an integral part of an accountant's job.In this class, I expect you to adhere to SWUFE's standards regarding integrity, honesty, and cheating at all times. The policy states:“Academic dishonesty is unacceptable and will not be tolerated. Cheating, forgery, plagiarism and collusion in dishonest acts undermine the college's educational mission and the students' personal and intellectual growth. SWUFE students are expected to bear individual responsibility for their work, to learn the rules and definitions that underlie the practice of academic integrity, and to uphold its ideals. Ignorance of the rules is not an acceptable excuse for disobeying them. Any student who attempts to compromise or devalue the academic process will be sanctioned/Any of the following acts, when committed by a student, is an act of academic dishonesty:Cheating, Fabrication, Facilitating Academic Dishonesty, and Plagiarism. Academic dishonesty is a serious offense, which may result in suspension or expulsion from the University. In terms of your grade, any of these acts will result in automatic failing the exam and/or failing the course. Moreoveo a report of suspected academic dishonesty will always be sent to the Dean of Students office. This can result in expulsion or suspension from the University.