• Module 1 conceptual framework,
• the four qualitative factors for financial reporting (understandability, comparability, relevancy, and reliability),
• recognition of assets and liabilities,
• Module 2 substance over form,
• how to determine the substance of the transaction using consignment inventory and factoring of receivables as examples, and
• Module 3 presentation of financial statements.

• Module 4 property plants and equipment,
• the determination of cost for these assets,
• change in estimates,
• the cost and revaluation model for PP&E valuation,
• the revaluation process, and
• the subsequent depreciation and sale of revalued assets.

• Module 4 property plants and equipment,
• the treatment of borrowing costs and government grants,
• Module 5 intangible assets,
• determination and recognization of intangible assets,
• research and development expenses, and
• introduction to Module 6 leasing.

• Module 6 leasing,
• finance lease versus operating lease,
• recording and steps required for finance lease for both the lesser and the lessor, and
• treatment of operating lease.

• Module 6 sales and leaseback,
• practice question on substance over form, and
• practice question on PP&E initial cost calculation, new addition that changes estimated life, and revaluation with its associated depreciation and amortization.

• went through Flow and BLFB practice questions on leases,
• Module 7 impairment of assets,
• Module 8 inventories and construction contracts, and
• Module 9 provisions and contingent liabilities and assets.

• contingent liabilities and assets in Module 9 provisions and contingent liabilities and assets,
• Module 10 financial assets and financial liabilities, and
• treatment of financial assets under FV, OCI, or amortizing assets.

• treatment of financial liabilities using effective interest rates from Module 10,
• Module 11 revenue recognition, and
• introduction to Module 12 income taxes under deferred income taxes.

• Module 12 income taxes,
• the treatment of over and under provision of income taxes,
• the rationale and recording of deferred income tax asset or liabilities, and
• introduction to Module 13 statement of cash flow.

• Module 13 statement of cash flow, and
• practice questions on statement of cash flow including XYZ, Luc Nguyen, Madden, and Water Company.

• Module 13 statement of cash flow, and
• practice questions on statement of cash flow including Gecko (indirect and direct method) and Louis Zimmer.

• practice questions on statement of cash flow including Creative Works, Ernest Banks, and Solid,
• Module 14 principles of consolidated financial statements, and
• Module 15 consolidated statement of financial position.

• Module 15 consolidated statement of financial position,
• practice questions on changing to non-wholly owned, pre- and post-acquisition profits, and goodwill calculation,
• fair value on purchase price and purchased assets, and
• elimination of intra-company transactions.

• Module 15 consolidated statement of financial position,
• practice questions with intra-group current accounts like accounts receivable and accounts payable,
• intra-group current accounts with differing balances,
• intra-group loan balances outstanding,
• unrealized profit from sale of inventory or non-current assets, and
• adjustment to fair value of assets purchased.

• Module 16 consolidated statement of comprehensive income,
• the elimination of intra-group transactions on statement of comprehensive income,
• Module 17 Accounting for investments in associates and joint ventures, and
• practice questions of consolidation with both subsidiary and associate companies.

• two practice questions on consolidation of subsidiary and associate companies,
• Module 18 Accounting policies, changes and accounting estimates and errors,
• Module 19 Events after the reporting period, and
• Module 21 Earnings per share.

• went through calculation of diluted earnings per share in Module 21,
• practice questions on earnings per share,
• Module 22 Interpretation of financial statements - ratios, related party disclosures and operating segments,
• introduction to ratio analysis, and
• related party disclosures and operating segments.

• ratio analysis on profitability, liquidity, and leverage,
• Module 20 The effects of changes in foreign exchange rates, and
• practice questions on earnings per share and statement of cash flow.

Module 13 Statement of cash flows

Dr. Thomas Wu

For this course, a general purpose non-financial calcuator can be used. Students who do not have ready access to a financial calculator should be able to perform all the required analysis and calculations using a general purpose non-financial calculator for the tutorials, assignments, mid-term test, and final examination.

You can also use a non-programmable financial calculator for the tutorials, assignment, mid-term test, and final examination. Common financial calculators are HP12c and TI BAII PLUS. User manual in simplified chinese and a tutorial for the HP12c can be found here and a simple tutorial for the HP12c can be found here. User manual for the TI BAII can be found here.

Regardless of the types of calculators used for this course, students are responsible for their own equipment and they cannot be shared in a quiz, test, or examination situation. As a result, students MUST bring their own calculators to each class. In addition, each student must be proficient in the use of their own equipment.

Electronic translators CANNOT be used for quiz, test, or examination situations, but they can be used during class (only with volume off) and your own study time.

There are specific terms that apply to accounting and finance, and there are various online sources that can help students understand these terms.

Download and print for reference:

• Hong Kong Exchange glossary of terms (English to Chinese)
• 88translation.com finance dictionary (Chinese to English, English to Chinese)

Online finance dictionaries:

• Reuters Chinese to English and English to Chinese finance dictionary
• Goldman Sachs English to Chinese finance dictionary
• Goldman Sachs Chinese to English finance dictionary
• Morgan Stanley English to Chinese finance dictionary

Other unverified sources of financial references:

• Finance Street - a finance related site prepared by the government
• Financial glossary of terms
• List of dictionaries