Course Nature This course is designed for undergraduate students majoring in accounting and auditing. It is arranged in the fourth or fifth semester. It is aimed to enhance students ability both in westem accounting knowledge and professional English, and to improve competitive for their job The teaching content and arrangements of this course should be strictly according to this teaching outline Teaching Objective After finishing learning this course, the students are required to understand the fundamenta western accounting theory, accounting concepts and the procedures and skills in dealing with the preparation of financial statements. By comparing the major differences of accounting treatment between U.s.A and China, the students are required to make comments on Chinese and Us accounting standards and make research on them Teaching Content Lesson 1 THE ENVIRONMENT OF FINANCIAL REPORTING L. Accounting information: users, uses, and GAAP in U.S.A 2. The development of accounting standards in U.S.A 2. 1 Brief history of development of accounting standards -CAP, APB, FASB 2. 2 Financial Accounting Standards Board(FASB 2.2.1 Organization 2.2 Statements issued by FaSB 3. Other organizations currently influencing GAAP in U.S.A 3. 1 SEC, AICPA, EITF, CASB, IRS, AAA, IASC/IASB, GASB, professional organizations 3.2 Relationship of organizations in current standard setting environment 4. Ethics in the accounting environment 5. Comparison of the development of accounting standards in China and in U.S.A (Case) Lesson 2 FINANCIAL REPORTING: ITS CONCEPTUAL FRAMEWORK 1. FASB conceptual framewo 1. 1 General value of framework 1.2 Nature and components of the FASbs conceptual framework 2. Objectives of financial reporting 3. Qualitative characteristics of accounting information- 1 - Course Nature This course is designed for undergraduate students majoring in accounting and auditing. It is arranged in the fourth or fifth semester. It is aimed to enhance students’ ability both in western accounting knowledge and professional English, and to improve competitive for their job. The teaching content and arrangements of this course should be strictly according to this teaching outline. Teaching Objective After finishing learning this course, the students are required to understand the fundamenta western accounting theory, accounting concepts and the procedures and skills in dealing with the preparation of financial statements. By comparing the major differences of accounting treatment between U.S.A and China, the students are required to make comments on Chinese and US accounting standards and make research on them. Teaching Content Lesson 1 THE ENVIRONMENT OF FINANCIAL REPORTING Forewords I. Accounting information: users, uses, and GAAP in U.S.A. 2. The development of accounting standards in U.S.A. 2.1 Brief history of development of accounting standards – CAP, APB, FASB 2. 2 Financial Accounting Standards Board (FASB) 2.2.1 Organization 1.2.2 Statements issued by FASB 3. Other organizations currently influencing GAAP in U.S.A. 3.1 SEC, AICPA, EITF, CASB, IRS, AAA, IASC/IASB, GASB, professional organizations 3.2 Relationship of organizations in current standard setting environment 4. Ethics in the accounting environment 5. Comparison of the development of accounting standards in China and in U.S.A. (Case) Lesson 2 FINANCIAL REPORTING: ITS CONCEPTUAL FRAMEWORK 1. FASB conceptual framework 1.1 General value of framework 1.2 Nature and components of the FASB’s conceptual framework 2. Objectives of financial reporting 3. Qualitative characteristics of accounting information