中南财经政法大学会计学院.docx

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