中南财经政法大学会计学院.docx
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中南财经政法大学会计学院
中南财经政法大学会计学院
SchoolofAccounting,ZhongnanUniversityofEconomics&Law
中级会计学(英文)课程
(IntermediateAccounting)
教学大纲
(SYLLABUS)
《中级财务会计》教学小组编写
TeachingTeamofIntermediateAccounting
2006年2月修订
(Feb.2006)
CourseNature
Thiscourseisdesignedforundergraduatestudentsmajoringinaccountingandauditing.Itisarrangedinthefourthorfifthsemester.Itisaimedtoenhancestudents’abilitybothinwesternaccountingknowledgeandprofessionalEnglish,andtoimprovecompetitivefortheirjob.
Theteachingcontentandarrangementsofthiscourseshouldbestrictlyaccordingtothisteachingoutline.
TeachingObjective
Afterfinishinglearningthiscourse,thestudentsarerequiredtounderstandthefundamentawesternaccountingtheory,accountingconceptsandtheproceduresandskillsindealingwiththepreparationoffinancialstatements.BycomparingthemajordifferencesofaccountingtreatmentbetweenU.S.AandChina,thestudentsarerequiredtomakecommentsonChineseandUSaccountingstandardsandmakeresearchonthem.
TeachingContent
Lesson1THEENVIRONMENTOFFINANCIALREPORTING
Forewords
I.Accountinginformation:
users,uses,andGAAPinU.S.A.
2.ThedevelopmentofaccountingstandardsinU.S.A.
2.1Briefhistoryofdevelopmentofaccountingstandards–CAP,APB,FASB
2.2FinancialAccountingStandardsBoard(FASB)
2.2.1Organization
2.2.2StatementsissuedbyFASB
3.OtherorganizationscurrentlyinfluencingGAAPinU.S.A.
3.1SEC,AICPA,EITF,CASB,IRS,AAA,IASC/IASB,GASB,professionalorganizations
3.2Relationshipoforganizationsincurrentstandardsettingenvironment
4.Ethicsintheaccountingenvironment
5.ComparisonofthedevelopmentofaccountingstandardsinChinaandinU.S.A.(Case)
Lesson2FINANCIALREPORTING:
ITSCONCEPTUALFRAMEWORK
1.FASBconceptualframework
1.1Generalvalueofframework
1.2NatureandcomponentsoftheFASB’sconceptualframework
2.Objectivesoffinancialreporting
3.Qualitativecharacteristicsofaccountinginformation
3.1Hierarchyofqualitativecharacteristics
3.2Pervasiveconstraint:
benefits>cost
3.3Primarydecision-specificqualities.
3.3.1.Relevance
3.3.2.Reliability
3.4Secondarydecision-specificqualities-Comparabilityandconsistency
3.5Thresholdforrecognition:
materiality.
4.Accountingassumptionsandconventions
4.1Assumptions--Entity,Continuity(going-concern),Periodoftime,Monetaryunit
4.2Conventions--Historicalcost,Realizationandrecognition,matchingandaccrualaccounting,Conservatism(prudence)
5.Elementsoffinancialstatements
5.1Balancesheet–Asset,Liability,Equity
5.2Incomestatement–Revenue,Expenses,Gains,Losses
5.3Statementofcashflows—Operatingcashflows,Investingcashflows,Financingcashflows
5.4Statementofchangesinequity—Investmentbyowners,Distributiontoowners
6.ComparisonofaccountingconceptsinChinaandinU.S.A.(Case)
Lesson3THEBALANCESHEETANDSTATEMENTOFCHANGESINSTOCKHOLDERS'EQUITY
1.Interrelationshipoffinancialstatements
2.Elementsofthebalancesheet
3.Measurementoftheelementsofthebalancesheet
4.Reportingclassificationsonthebalancesheet
4.1Assetandliabilityclassifications
4.2Conceptualguidelinesforreportingassetsandliabilities
4.3Stockholders'equityclassifications
5.Limitationsofthebalancesheet
6.Statementofchangesinstockholders'equity
7.Otherdisclosureissues
8.Reportingtechniques
9.BalanceSheetanalysis
Lesson4THEINCOMESTATEMENTANDINCOMERECOGNITION
1.Conceptsofincome
1.1Capitalmaintenance
1.2Transactionalapproach
2.Elementsoftheincomestatement
3.Incomestatementcontent
3.1Incomefromcontinuingoperations
3.2Resultsfromdiscontinuedoperations
3.3Extraordinaryitems
3.4Effectsofaccountingchanges
3.5Earningspershare
4.Incomestatementformats
4.1Single-step
4.2Multiple-step
5.Limitationsoftheincomestatement
6.IncomeStatementanalysis
7.Comprehensiveincome
8.Conceptualissuesofrevenuerecognition
8.1Revenuerecognitioncriteria
8.2Economicsubstanceversuslegalform
8.3Transferofrisksandbenefits
8.4Collectibilityofreceivable
9.Revenuerecognitionalternatives
9.1Normalrevenuerecognition
9.2Revenuerecognitionpriortotheperiodofsale
9.3Revenuerecognitionaftertheperiodofsale
Lesson5THESTATEMENTOFCASHFLOWS
1.ConceptualoverviewandusesoftheStatementofCashFlows
2.StructureoftheStatementofCashFlows
2.1Threecategoriesofcashflows.
2.2Supplementaldisclosures
3.ReportingCashFlowFromOperations
3.1Operatingcycle
3.2Twomethods
3.2.1Directmethod--Illustration
3.2.2Indirectmethod--Illustration
4.PreparingacompleteStatementofCashFlows
Asix-stepprocessforpreparingastatementofcashflows.
5.Usingcashflowdatatoassessfinancialstrength
Chapter6CASHANDRECEIVABLES
I.Accountingforcash
1.1Measurementasacurrentasset
1.2Cashandcashequivalents
1.3Cashmanagement
1.4Pettycashsystem
2.Bankreconciliation
3.Specialtopics
3.1Electronicfundstransfersystems
3.2Compensatingbalances
4.Receivables
4.1Classifications
4.1.1Currentvsnoncurrent
4.1.2Tradereceivables
4.1.3Nontradereceivables
4.2Valuationissues
4.2.1Initialrecordingbasedonexpectedfuturecashflows
4.2.2Estimationoftheprobabilityofcollection
5.Accountsreceivable
5.1Cash(sales)discounts
5.2Salesreturnsandallowances
6.Valuationofaccountsreceivableforuncollectibleaccounts
6.1Estimatedbaddebtsmethod
6.1.1Incomestatementapproach
6.1.2Balancesheetapproach
6.2Recordingbaddebts
6.3Writingoffuncollectibleaccounts
6.4Collectionofanaccountpreviouslywritten-off
6.5Directwrite-offmethod
7.Generatingimmediatecashfromaccountsreceivable
7.1Conceptualissues
7.2Pledging
7.3Assignment
7.4Factoringofreceivables
7.5Disclosureoffinancingagreements
8.Notesreceivable(short-term)
Lesson7INVENTORIES
1.Classificationsofinventory
2.Alternativeinventorysystems
2.1Perpetual
2.2Periodic
3.Itemstobeincludedininventoryquantities
4.Determinationofinventorycosts
4.1Itemsincludedininventorycost.
4.2Discountsasreductionsincost.
4.3Purchasereturnsandallowances.
4.4Summary
5.Inventoryvaluationmethods
5.1Specificidentification
5.2First-in,first-out(FIFO)
5.3Averagecost
5.4Last-in,first-out(LIFO)
5.5Comparison
6.Inventoryvaluationatotherthancost
6.1Lowerofcostormarket(LCM)
6.1.1ApplicationofLCM
6.1.2Conceptualevaluationofceilingandfloor
6.1.3ApproachestoapplyingLCM
6.1.4Recordingthereductionofinventorytomarket
6.1.5LCMandinterimfinancialstatements
6.1.6ConceptualevaluationofLCM
6.2Grossprofitmethod
6.3Retailinventorymethod
7.Effectsofinventoryerrors
Lesson8PROPERTY,PLANT,ANDEQUIPMENT
1.Classificationasproperty,plant,andequipment(PPE)
1.1Characteristics
1.2Evaluationofuseofhistoricalcost
2.AcquisitionofPPE
3.Assetsacquiredbyexchangeofotherassets
3.1Definitionofnonmonetaryexchange
3.2Dissimilarproductiveassetexchanges
3.3Similarproductiveassetexchanges
3.4ComparisonofaccountingtreatmentsinChinaandinU.S.A.(Case)
4.Self-construction
4.1Interestduringconstruction
4.2Fixedoverheadcosts
5.Costssubsequenttoacquisition
6.Disposalofproperty,plant,andequipment
7.Disclosureofproperty,plant,andequipment
8.Depreciationanddepletion
8.1Costallocationterms
8.2Factorsinvolvedindepreciation
8.3Methodsofcostallocation
8.4Conceptualevaluationofdepreciationmethods
8.5Disclosurerequirementsfordepreciation
8.6Depreciationforpartialperiods
8.7Depletion
9.Impairmentofnoncurrentassets
9.1Impairmenttest
9.2Measurementofloss
9.3Conceptualevaluation
Lesson9INTANGIBLES
1.Accountingforintangibles
1.1Cost
1.2Amortizationorimpairment
2.Researchanddevelopment(R&D)
2.1Definitions
2.2CostsincludedasR&D
2.3Costtreatment
2.4ConceptualevaluationofaccountingforR&Dcosts
3.Identifiableintangibleassets
4.Unidentifiableintangibles
5.Disclosureofintangibles
5.1Inperiodintangibleassetsareacquired
5.2Ineachperiodcompanypresentsabalancesheet
6.Conceptualevaluationofaccountingforintangibles
Lesson10CURRENTLIABILITIESANDCONTINGENCIES
1.Conceptualoverviewofliabilities
2.Natureanddefinitionofcurrentliabilities
2.1Liquidationexpectedwithinayearoranoperatingcycle,whicheverislonger
2.2Liquidityandfinancialflexibility
2.3Classification
3.Valuationofcurrentliabilities
4.Currentliabilitieshavingacontractualamount
5.Currentliabilitieswhoseamountsdependonoperations
6.Currentliabilitiesrequiringamountstobeestimated
7.Contingencies
7.1DefinitioninFASBStatementNo.5
7.2Accrualoflosscontingencies
7.3Disclosureoflosscontingenciesinnotestofinancialstatements
7.4Disclosureofgaincontingenciesinnotestofinancialstatements
8.Otherliabilityclassificationissues
8.1Short-termdebtexpectedtoberefinanced
8.2Classificationofobligationsthatarecallablebythecreditor
9.Presentationofcurrentliabilitiesinthefinancialstatements
Lesson11LONG-TERMLIABILITIESANDRECEIVABLES
1.Reasonsforissuanceoflong-termliabilities
2.Bondspayable
2.1Terms
2.2Bondsellingprices
2.3Recordingtheissuanceofbonds
2.3.1Premiumonbondspayable:
adjunctaccount
2.3.2Discountonbondspayable:
contraaccount
2.3.3Carrying(book)value
24.Bondsi