The Chinese University of Hong Kong

School of Accountancy
ACCT 1111ABC
Foundations in Financial Accounting
(First Term, 2020-2021)

SENIOR LECTURER
Name: Dr. Xiaolu ZHOU
Office: Room 1013, 10/F, Cheng Yu Tung Building (CYT)
Phone: 3943 1956
E-mail: xiaoluzhou@cuhk.edu.hk
Blackboard: http://blackboard.cuhk.edu.hk
Teaching Venue: Online Mode
Office Hours: Friday, 11:30 am – 1:30 pm, or by appointment

TEACHING ASSISTANT
Name: Mr.
Office: Room , 10/F, CYT
Phone: 3943
E-mail: @cuhk.edu.hk
Office Hours: Mon to Thur.:; Fri.:

COURSE OBJECTIVE
This course is designed to provide students with a comprehensive understanding of financial
accounting principles, practices and its underlying theories. In this course, we will emphasize basic
financial accounting concepts and principles, and discuss how to measure a company’s net income,
assets, liabilities, shareholders’ equity, and cash flows, and how to prepare financial statements using
IFRS.

COURSE LEARNING OUTCOMES

After completing this course, students should be able to:
(1) Understand and apply basic accounting principles to business situations.
(2) Apply analytical techniques to solving accounting problems.
(3) Access numerous online materials related to the business and accounting world.

LEARNING ACTIVITIES AND COURSE ASSESSMENT

Course grades will be based on the following elements:

Learning Outcome Learning Activity Course Assessment

L.O. 1, 2 & 3 Class Attendance and Participation 10%
L.O. 1, 2 & 3 Homework 10% (please refer to page 3)
L.O. 1 Mid-term Exam 30% (Chapter 1-6)/
L.O. 1 & 2 Uniform Final Exam 50% (comprehensive)

GRADE DESCRIPTORS
A Outstanding performance on all learning outcomes.
A- Generally outstanding performance on all (or almost all) learning outcomes.
B Substantial performance on all learning outcomes, OR high performance on some learning
outcomes which compensates for less satisfactory performance on others, resulting in overall
substantial performance.
C Satisfactory performance on the majority of learning outcomes, possibly with a few weaknesses.
D Barely satisfactory performance on a number of learning outcomes.
F Unsatisfactory performance on a number of learning outcomes, OR failure to meet specified
assessment requirements.

1
HOMEWORK
Students are required to submit all individual homework assignments for grading on
Blackboard. Please refer to page 3 and 4 (homework assignment questions and due date) for details.
Late homework will NOT be accepted and will receive a ZERO mark. It is a student’s
responsibility to make sure that all homework is submitted on time.

MID-TERM EXAMINATION
The midterm exam is tentatively scheduled on Oct 28 (Wed), 7-9 pm. Students will be informed
whether the midterm exam will be arranged as face to face (in-person) exam or online exam once an
update is provided by the University.

FINAL EXAMINATION
A uniform closed-book closed-notes comprehensive final examination will be given to all ACCT
1111 and 2111 students at the location and date assigned by the University. Any individual make-up
examination must be approved by the Registration and Examinations Section (RES).

SELF-STUDY & E-LEARNING

Accounting is a “do-it-yourself” course. Self-study is as important as lectures. The minimum required
study time outside the classroom is six hours each week. The best way for self-study is to focus on the
textbook and lecture notes. Careful reading and exercises are the only ways to understand the course
material. Students are encouraged to work on additional exercises and problems at the end of each
chapter. Students may visit the Teaching Assistant for further assistance, including access to
solutions to non-homework exercise questions. YouTube video on accounting for sole
proprietorship/partnership interest: https://youtu.be/7F9yw67kHSI is included as e-learning. Please
also take a look at Chapter 10. E-learning materials will be included. For example, Live Lectures via
Zoom in which students can interact and participate class discussions with the teacher and other
students AND recorded Zoom Lectures will be uploaded to Blackboard.

LEARNING ACTIVITIES

Lecture Lab / tutorial Project / Case Expected

(hr) (hr) discussion (hr) out-of-class
in / out class in / out class in / out class activities (hrs)
in / out class
3 0 0 0.5 0 0 0 7

ACADEMIC HONESTY AND PLAGIARISM

The Chinese University of Hong Kong places very high importance on honesty in academic work
submitted by students and adopts a policy of zero tolerance on cheating and plagiarism. Any related
offence will lead to disciplinary action including termination of studies at the University. Attention is
drawn to University policy and regulations on honesty in academic work, and to the disciplinary
guidelines and procedures applicable to breaches of such policy and regulations. See
http://www.cuhk.edu.hk/policy/academichonesty/ for details. Please include the signed declaration
of originality on all assignments and cases (section 10). The turn-around time for each assignment /
assessment is approximately one / three weeks.

REQUIRED TEXTBOOK
Harrison, Horngren, Thomas, Tietz, and Suwardy. Financial Accounting: International Financial
Reporting Standards, 11th Edition. ISBN-13 978-1-292-21114-5

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COURSE OUTLINE

Date Lesson Topic Chapter Homework Assignment

ACCT Questions and Due Date
1111A

E1-28B; E1-29B
Sept 8 1 Introduction and Financial 1 (In class exercise, no need to
Statements upload to Blackboard)
S2-12; E2-18A
Sept 15 2 Recording Business 2 (Please upload this homework
Transactions assignment to Blackboard on or
before Sept 25, Thur., 11 am)
S3-15; E3-31B
Sept 22 3 Accrual Accounting 3 (Please upload this homework
assignment to Blackboard on or
before Oct 2, Thur., 11 am)
E4-17A
Sept 29 4 Presentation of Financial 4 (Please upload this homework
Statements assignment to Blackboard on or
before Oct 9, Thur., 11 am)
E5-23A; E5-24A
Oct 6 5 Internal Control, Cash, and 5 (Please upload this homework
Receivables assignment to Blackboard on or
before Oct 16, Thur., 11 am)
E6-20A (Part 1 and 2)
Oct 13 6 Inventory and 6 (Please upload this homework
Merchandizing Operations assignment to Blackboard on or
before Oct 23, Thur., 11 am)
S7-8; E7-15A
Oct 20 7 PPE and Intangibles 7 (Please upload this homework
assignment to Blackboard on or
before Oct 30, Thur., 11 am)

Midterm (Oct 28, Wed,

7 – 9 pm)
E9-23A
Nov 3 8 Liabilities (excluding 9 (Please upload this homework
Bonds and Capital Leases) assignment to Blackboard on or
before Nov 13, Thur., 11 am)
E10-22A; E10-40B
Nov 10 9 Shareholders’ Equity 10 (Please upload this homework
assignment to Blackboard on or
before Nov 20, Thur., 11 am)
S11-7; E11-33B
Nov 17 10 The Statement of Cash 11 (Please upload this homework
Flows assignment to Blackboard on or
before Nov 27, Thur., 11 am)
E12-22A
Nov 24 11 Financial Statement 12 (Please upload this homework
Analysis assignment to Blackboard on or
before Dec 4, Thur., 11 am)

3
 Date Lesson Topic Chapter Homework Assignment
ACCT 1111B Questions and Due Date

E1-28B; E1-29B
Sept 10 1 Introduction and Financial 1 (In class exercise, no need to
Statements upload to Blackboard)
S2-12; E2-18A
Sept 17 2 Recording Business 2 (Please upload this homework
Transactions assignment to Blackboard on
or before Sept 25, Thur., 11
am)
S3-15; E3-31B
Sept 24 3 Accrual Accounting 3 (Please upload this homework
assignment to Blackboard on
or before Oct 2, Thur., 11 am)
Sept 30 E4-17A
Wed 6:30pm-9:15pm
Or
4 Presentation of Financial 4 (Please upload this homework
Statements assignment to Blackboard on
Sept 29
Tue 2:30pm-5:15pm or before Oct 9, Thur., 11 am)
E5-23A; E5-24A
Oct 8 5 Internal Control, Cash, and 5 (Please upload this homework
Receivables assignment to Blackboard on
or before Oct 16, Thur., 11 am)
E6-20A (Part 1 and 2)
Oct 15 6 Inventory and 6 (Please upload this homework
Merchandizing Operations assignment to Blackboard on
or before Oct 23, Thur., 11 am)
S7-8; E7-15A
Oct 22 7 PPE and Intangibles 7 (Please upload this homework
assignment to Blackboard on
or before Oct 30, Thur., 11 am)
Midterm (Oct 28, Wed,
7 – 9 pm)
E9-23A
Nov 5 8 Liabilities (excluding 9 (Please upload this homework
Bonds and Capital Leases) assignment to Blackboard on
or before Nov 13, Thur., 11
am)
E10-22A; E10-40B
Nov 12 9 Shareholders’ Equity 10 (Please upload this homework
assignment to Blackboard on
or before Nov 20, Thur., 11
am)
S11-7; E11-33B
Nov 19 10 The Statement of Cash 11 (Please upload this homework
Flows assignment to Blackboard on
or before Nov 27, Thur., 11
am)
E12-22A
Nov 26 11 Financial Statement 12 (Please upload this homework
Analysis assignment to Blackboard on
or before Dec 4, Thur., 11 am)

4
 Date Lesson Topic Chapter Homework Assignment
ACCT Questions and Due Date
1111C
E1-28B; E1-29B
Sept 11 1 Introduction and Financial 1 (In class exercise, no need to
Statements upload to Blackboard)
S2-12; E2-18A
Sept 18 2 Recording Business 2 (Please upload this homework
Transactions assignment to Blackboard on
or before Sept 25, Thur., 11
am)
S3-15; E3-31B
Sept 25 3 Accrual Accounting 3 (Please upload this homework
assignment to Blackboard on
or before Oct 2, Thur., 11 am)
Sept 30 E4-17A
Wed 6:30pm-9:15pm
4 Presentation of Financial 4 (Please upload this homework
Or
Statements assignment to Blackboard on
Sept 29
Tue 2:30pm-5:15pm or before Oct 9, Thur., 11 am)
E5-23A; E5-24A
Oct 9 5 Internal Control, Cash, and 5 (Please upload this homework
Receivables assignment to Blackboard on
or before Oct 16, Thur., 11 am)
E6-20A (Part 1 and 2)
Oct 16 6 Inventory and 6 (Please upload this homework
Merchandizing Operations assignment to Blackboard on
or before Oct 23, Thur., 11 am)
S7-8; E7-15A
Oct 23 7 PPE and Intangibles 7 (Please upload this homework
assignment to Blackboard on
or before Oct 30, Thur., 11 am)
Midterm (Oct 28, Wed,
7 – 9 pm)
E9-23A
Nov 6 8 Liabilities (excluding 9 (Please upload this homework
Bonds and Capital Leases) assignment to Blackboard on
or before Nov 13, Thur., 11
am)
E10-22A; E10-40B
Nov 13 9 Shareholders’ Equity 10 (Please upload this homework
assignment to Blackboard on
or before Nov 20, Thur., 11
am)
S11-7; E11-33B
Nov 20 10 The Statement of Cash 11 (Please upload this homework
Flows assignment to Blackboard on
or before Nov 27 Thur., 11 am)
E12-22A
Nov 27 11 Financial Statement 12 (Please upload this homework
Analysis assignment to Blackboard on
or before Dec 4, Thur., 11 am)

5
Important Dates
(http://www.res.cuhk.edu.hk/en-gb/general-information/university-almanac/university-almanac-202
0-21/university-almanac-2020-21-by-programmes/full-time-undergraduate-programmes

Supplemental Information

Chapter Remarks

3 Note the updated revenue recognition principles (discussed on page 135).

5 Omit Fraud and Internal Control (pages 255-265).

8 Omitted in this course. “Investments and International Operations” will be covered in

ACCT 3111 and ACCT 3112.
9 Omit Bonds (pages 515-530 top). We will briefly discuss leases in this class. Note the
updated lease standard (discussed on page 531).
10

11

12