This Course Guide has been taken from the most recent presentation of the course. It would be useful for reference purposes but please note that there may be updates for the following presentation.
ACT B212
Introduction to Accounting II
Welcome to ACT B212 Introduction to Accounting II.
ACT B212 Introduction to Accounting II is a 5-credit, middle-level course within the Bachelor of Business Administration (BBA) and BBA (Hons) programmes. It is a required course for students in the Bachelor of Business Administration degree programme. The course, together with its counterpart ACT B211 Introduction to Accounting I, provides a foundation for students who wish to become business managers and accountants. ACT B212 covers important accounting topics that a competent accountant or business manager needs to know. After learning how to complete various kinds of accounts and prepare the basic financial statements, you will be in a better position to understand the financial situation of a business and make better business decisions based on these financial statements and related information.
The approach that we have taken, and which is taken by the textbook, is to teach you the basics of writing up books of accounts and preparing financial statements. We will use accounting terminology as we proceed through the course. Accounting terminology is a major element in the language of business. You will need some accounting knowledge and skills if you are to understand and use this language properly. A glossary of important terms is provided in the study units to help you.
Before you begin studying, you must also understand how the course operates and how its parts fit together. The Course Guide can explain this to you. It is very important that you read this Course Guide thoroughly and carefully.
The Course Guide will tell you:
You have probably taken other courses through Hong Kong Metropolitan University, so you should now be well aware of both the study skills required for distance learning and how HKMU courses are organized. It is still recommended, though, that you read this Course Guide thoroughly before looking at the study units or supplementary readings.
The Course Guide tells you briefly what the course is about and how you can work your way through the material. It suggests the amount of time you are likely to need to spend in order to complete the course and will give you a general idea of when your assignments are due. For detailed information on assignments, and for information on due dates for work to be submitted, please refer to the Assignment File.
In distance learning as practised by Hong Kong Metropolitan University, the study units (not the tutor) replace the university lecturer. This is one of the great advantages of distance learning: you can read and work through specially designed study material at your own pace at times and places that suit you best. Think of it as reading the lecture instead of hearing it from a lecturer. In the same way that a lecturer might set you some reading to do, the study unit will tell you when to read your textbook or other material. In the same way that a lecturer might give you an in-class exercise, your study unit will have exercises (called by various names) for you to do at appropriate points.
Each unit in the course is self-contained and has a set of stated learning outcomes found just after each introduction. You must keep the learning outcomes in mind as you work through a unit. Doing so enables you to assess whether you have mastered them. Study units are the driving force in this course. Each unit addresses a number of major topics, usually with subtopics.
As you read through the topics, you will be asked to do activities, self- tests and sometimes readings. These are provided to help you apply the concepts and techniques so that you have a better understanding of the nature of accounting. You should complete activities and self-tests when you are asked to do so. The answers to the self-tests can be found at the back of the unit, but you should avoid looking at the answer while you attempt an activity. You should return to your unit after each activity or self-test for further discussion of the subject matter, a reading, or another activity.
Activities and self-tests are designed to encourage you to think about what you are reading and to enable you to assess whether you understand the material. Whenever you find that you are unable to successfully answer an activity or self-test, go back over the material it relates to. Then try to answer the question again. If you continue to have problems, contact your tutor. Units end with a summary. Some exam- type questions will be added to the self-test exercise of some units in order to further reinforce your understanding of the topic concerned and apply it to solve relatively complicated problems.
Course aims
The course extends the knowledge of financial accounting that learners acquired in ACT B211 to the financial statements of partnership and limited companies. It also introduces learners to cost accounting concepts, such as cost-volume-profit analysis and budgeting.
After working through ACT B212, you should be able to:
Your primary study materials for this course are:
If you have never studied through distance learning, you will need to become familiar with this approach to learning. Your starting point will always be the study units, which are contained in this binder.
You are not expected to read the textbook from cover to cover. The study units will direct you to read selected pages and chapters in your textbook.
Study units
You should read the study units carefully as they can guide your learning and tell you how to approach any assignment related to the unit. Otherwise, you may miss important information. You must read both the study units and the textbook. Moreover, you should also read articles in newspapers and journals and other books related to the topics. The more widely you read, the better your appreciation and understanding of the course.
Each unit is divided into a number of sections. The first section provides the objectives of that unit and introduces the materials to be covered. The next section constitutes the contents of the study unit. This section will guide your learning and direct you to complete the activities and self-tests.
To enhance learning, two to three key concepts/topics of accounting of each unit have been identified for video presentation, which can illustrate the content more clearly than just using the study units and textbook of the printed course materials. You will be guided to access the video presentations on the Online Learning Environment (OLE) in relevant parts of the units.
All students and tutors are expected to have access to a PC with an Internet connection in order that they may access the learning resources available at the textbook's Online Learning Center (http://www.mhhe.com/), the OLE, along with current financial statements of relevant organizations. You may also use the HKMU lab PCs, all of which have access to the Internet.
The course has five units in total. Each unit includes course content, activities and self-tests. The five units are listed.
| 1 | Accounting for partnerships |
| 2 | Accounting for limited companies |
| 3 | Statement of cash flows and analysis of financial statements |
| 4 | Cost concepts |
| 5 | Budgets |
Textbook
You are required to purchase a set textbook for this course. The course textbook will provide consolidation of the various topics you will be covering in the units. It will provide further examples and additional commentary and exercises to help your understanding.You will find that the balance sheet and ledger account formats in the textbook may be different from those given in the study units.
The main course text is:
Wild, Kwok, Venkatesh, Shaw and Chiappetta (2016) Fundamental Accounting Principles, 2nd edn, McGraw-Hill Education (Asia).
References
If you are interested in doing some extra reading, you might like to refer to the following textbooks. However, purchase of these books is not compulsory for the course.
Assignment File
The Assignment File contains details about the assignments: what they require you to do, what their due dates are, and how many marks each is worth.
Non-print media
Internet sites which you may be referred to in this course include the websites of various companies.
You may also need to use a word processor in order to prepare your assignments. You may find it useful to use a spreadsheet package, such as Microsoft Excel, though there is no requirement that you do so. Similarly, you may wish to use a database package, such as Microsoft Access. Again, there is no requirement that you do so.
You are required to follow the accounting presentation formats adopted in the study units.
Online Learning Environment
This course is supported by HKMU's Online Learning Environment (OLE). You can find course materials and the latest course information from the OLE and use the discussion board to communicate with your tutor, the Course Coordinator and fellow students.
Tutor
You will be assigned a tutor for this course. Before the course begins, you will be advised by the HKMU Registry of your tutor's name, address, and phone number. Your tutor will:
Your tutor is your first point of contact with HKMU. Please speak with your tutor first about any problem you might have or advice you may need. Your tutor will advise you if you need to contact the Course Coordinator. It is not the tutor's role to give lectures on the course material. Your tutor is a helper, or facilitator, who can provide you with considerable assistance when you run into difficulties. He or she is also a leader who can arrange opportunities for you to put into practice some of the course concepts. HKMU urges you to make use of this assistance.
Live online tutorials and surgery
This course provides four three-hour live online tutorials and one two-hour live online surgery to help you in your learning. Tutorials are not compulsory but you are strongly encouraged to attend. These learning sessions should provide considerable assistance in your study of this course. They also provide you with a chance to meet other distance learners who are studying at HKMU.
Please note that the function of these live online tutorials is to complement your distance learning material, not to replace it through lectures. In this course, your primary means of learning is through the written word, that is, your HKMU study materials and your textbook.
Online support
This course uses the Online Learning Environment (OLE), an online course delivery system developed by HKMU. The OLE includes a course discussion board that allows you to interact with your tutor and fellow students. You are strongly encouraged to make use of the discussion board to share personal experience, resources and perspectives during the course, and to post your ideas and questions.
Your assessment comprises two assignments and one two-hour examination.
To pass the course, you are required to fulfil the requirements of both the continuous assessment (i.e. assignments) and the final examination.
The marks are allocated as follows:
| Assessment type | Marks |
| Assignments | |
| Assignment 1 | 20% |
| Assignment 2 | 20% 40% |
| Examination (2 hours) | 60% |
| TOTAL | 100% |
Details of the assignments are contained in your Assignment File. For each assignment, there is a due date, which is the last date for the assignment to be received by your tutor. You should refer to the Student Handbook for the procedures to be followed if you wish to submit an assignment after the due date.
Continuous assessment
All the continuous assessment in this course consists of assignments. Except for unusual circumstances, these will be marked by your tutor and monitored by your Course Coordinator.
The assessment tasks have been designed to meet two purposes:
Apart from contributing to your final score, the programme of continuous assessment will help us to monitor your progress so that we can give advice and assistance if you are not performing well. It will give you valuable practice for the final examination. It will also help you to pace your learning and ensure that you develop and reinforce accounting skills regularly. Our experience is that it is usually a mistake to try and learn accounting at the last minute!
The assignments could take the form of case studies, calculations and essay questions. For detailed explanation on how to complete the assignment questions, please refer to the instructions in the Assignment File.
To pass the continuous assessment, you must score a minimum overall average of 40% on both assignments. You should submit both assignments. They are designed not just to assess you formally, but to give you important feedback on what you have learned so that you may be better prepared for your examination.
Presentation
You are expected to prepare clear, accurate, well-structured, grammatically correct, and neat work. These are characteristics which HKMU expects from all of its students. Markers have been instructed to take these factors into account when marking all forms of assessment.
How to submit assignments
You must use word processing software (such as Microsoft Word) to prepare the assignments, and submit the assignments via the Online Learning Environment (OLE). All assignments must be uploaded to the OLE by the due date.
Failure to upload an assignment in the required format to the OLE may result in the score of the assignment being adjusted to zero.
Assignment extension policy
The assignment policy of the University as stated in the Student Handbook should be observed. Students are required to submit assignments for a course in accordance with the dates communicated by the Course Coordinator. Students may apply for a submission extension on the grounds of illness, accident, disability, bereavement or other compassionate circumstances (with good justifications and documented proof).
Applications for extensions of up to seven days should be submitted to the tutor. The tutor shall consider valid and unexpected emergencies on an individual basis. Normally, documented proof of the extenuating circumstances is not required for extensions of up to seven days. The tutor shall decide and advise the student of the revised date for submission.
For extensions of over seven days, students should note the following:
After an assignment is submitted via the OLE, it is your responsibility to check that the assignment has been successfully submitted. Extension applications due to any problem with uploading will not be accepted. The University cannot accept any responsibility for assignments that are not received by your tutor due to any problem with submission via the OLE. As a precaution, you are advised to keep a copy of each assignment you submit.
According to the University's policy, no extension of the due date will be allowed for the final assignment. This policy will be strictly enforced. Any late submission of the final assignment will result in the score of the assignment being adjusted to zero.
Final examination
At the end of this course, you are required to sit for a two-hour examination. The examination is worth 60% of the total marks for the course. You must pass the examination (as well as the continuous assessment) in order to pass the course. To pass the examination, you must score a minimum of 40%. If you fail the examination, you may be given the opportunity to resit the exam at the end of the next presentation of the course. However, to qualify for a resit you must have passed the continuous assessment and, in your exam, you must have reached the minimum resit score, which will be determined by the examiners.
You will receive a copy of the specimen examination paper before the examination. The HKMU Registry will also send you information on the date, time and location of your exam. For your planning, the examination for the April presentation is usually held the following August, whereas the examination for the October presentation is usually held the following February.
Remember that your final result in this course depends on your performance in both the continuous assessment (assignments) and the examination. In order to pass the course, you need to pass both the continuous assessment and the examination. For more information on the University's policies on assignments and examination, please refer to Section 7, 'Assignments and Examination', in the HKMU Student Handbook.
It is important that you organize your study schedule at the beginning of the course.
Set out below is a suggested study schedule showing the minimum amount of time you should spend on each unit. The due date for each assignment indicates when you should have completed studying the relevant units.
| Unit | Study weeks | Assignment | |
| 1 | Accounting for partnerships | 3 | |
| 2 | Accounting for limited companies | 3 | Assignment 1 |
| 3 | Statement of cash flows and analysis of financial statements | 3 | |
| 4 | Cost concepts | 3 | Assignment 2 |
| 5 | Budgets | 3 | |
| Revision | 1 | ||
| Total | 16 | 2 | |
You can set your own pace in this course, provided you meet the deadlines for assignments. However, you are urged to move ahead as soon as possible because once you fall behind in your studies, it is difficult to catch up.
The study of accounting is a time-consuming and, at times, difficult task. However, the rewards are considerable. People with accounting skills are always in demand.
Remember, too, that although you are responsible for your own study, staff members of HKMU are here to help you. If you experience difficulties with any aspect of your course, contact your tutor. If you need any further help, contact your Course Coordinator or other HKMU staff members.
Bosco Law is a fellow member of Hong Kong Institute of Certified Public Accountants (HKICPA) and Association of Chartered Certified Accountants. He received an accounting degree from Hong Kong Polytechnic University and a master's degree in international accounting from City University of Hong Kong. He has more than twenty years' experience in teaching financial accounting. He also served the Qualification Programme of HKICPA as a workshop facilitator in the Financial Accounting Module and the Examination Committee of Hong Kong Institute of Accredited Accounting Technicians as a member in moderating examination papers. At present he is residing in the UK.
If you wish to defer your studies of this course until a later date, you should apply for deferment of studies. For the regulations governing deferment of studies, please refer to your Student Handbook. If you have applied for deferment of studies you should continue with your studies of this course and submit the required assignments until formal approval is given by the University. Should you have difficulties in submitting an assignment, you are advised to liaise with your Course Coordinator and apply for an assignment extension. Students who have been granted deferment of studies will not be allowed to submit assignments due before the date that their application for deferment of studies is received by Registry.
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