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NUSBK 1003Jan 00WK

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NUSBK 1003Jan 00WK

NATIONAL UNIVERSITY OF SINGAPORE

    School of Business

    Department of Finance and Accounting

FNA1002X FINANCIAL ACCOUNTING

    SEMESTER 2 2007-2008

DR. WINSTON KWOK bizkcc@nus.edu.sg Tel 6516-2507 Biz1 04-42

NOTE: IF YOU ARE A BUSINESS OR ACCOUNTING STUDENT, YOUR COURSE

    WILL BE FNA1002, NOT THIS ONE. THIS COURSE IS FOR NON-BUSINESS

    STUDENTS ONLY.

AIM

    Accounting is the language of business, facilitating communication of the financial aspects of business. This module provides an introduction to the financial accounting branch of accounting. The activities and events of a business entity are summarised by the financial accounting process into published financial statements to be used by external users such as investors and creditors. Such users would need to understand both the financial accounting process and its outputs in order to make investing or lending decisions. Therefore, students will learn how to prepare simple financial statements and also learn how to read, understand and use published financial statements for decision-making. Published financial statements of listed companies will be used as examples. This module is targeted at non-business students and will be

    taught from the user perspective.

OBJECTIVES

    ; To understand the basic concepts and principles underlying financial accounting. ; To learn the process that results in published financial statements. ; To prepare simple financial statements.

    ; To account for common elements of the financial statements.

    ; To understand and use most of the common information presented in published

    financial statements.

PREREQUISITE

    None

KEY AREAS OF THE SYLLABUS

    ; Financial accounting: An overview

    ; Accounting concepts and principles

    ; Accrual accounting and double entry bookkeeping system

    ; Accounting for elements in the financial statements

    ; Preparation of financial statements

    ; Basic financial ratio Analysis

DETAILED SYLLABUS

    1. Overview of Financial Accounting

    a. Objectives of accounting

    b. Accounting assumptions

    c. Qualitative characteristics of accounting information

2. The Financial Statements

    a. Objectives of financial statements

    b. Users of financial statements

    c. Components of financial statements

    d. Elements in the financial statements, including general principles on

    recognition and measurement

3. Processing Accounting Information

    a. Double entry bookkeeping system

    b. Accrual versus cash accounting

    c. Accounting recording cycle

    d. Adjusting entries

    e. Closing process (briefly)

    4. Accounting for Elements of Financial

     Statements

    a. Accounting for Accounts Receivable

    b. Accounting for Inventory

    c. Accounting for Long-term Assets

    d. Accounting for Liabilities

    e. Accounting for Shareholders’ Equity

    f. Accounting for Investments

5 Preparing Financial Statements

    a. Preparation of Balance Sheet, including classified balance sheet

    b. Preparation of Income Statement

    c. Preparation of Statement of Changes in Equity

    d. Preparation of Cash Flow Statement

    (Indirect method only)

6. Basic Financial Ratio Analysis

    a. Types of financial ratios

    b. Usefulness of financial ratios

    c. Limitations of financial ratios

SCHEDULE

Weekly sessions of 2-hour lectures and one-hour tutorials. A detailed schedule will be

    available on the University’s Integrated Virtual Learning Environment (IVLE) website before semester starts in January 2007. Please check the IVLE (Go to ivle.nus.edu.sg stand under “Open Syllabus” search for module code FNA1002X) before you attend the 1 lecture as there will be materials you need to download and print.

ASSESSMENT

    To be advised.

TEXT

    To be advised.

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