Mid-term Information:

Coverage, Test Format, and more…

Date: 11 Mar 2018, Monday

Time: 19:00-21:00 (7pm – 9pm). You need to arrive 15 minutes before start. This will ensure that you do not lose time
finding your seat.

Location: Different subclasses will have different exam halls:

For subclass G (the class starting at 9:30 am), exam hall is LE2.
For subclass H (the class starting at 12:30pm), exam hall is MB201
For subclass I (the class starting at 3:30pm), exam hall is MB217
Coverage: Chapters 1, 2,3,4, and 5 (cost-recovery method excluded).
Details are provided in the next slide.

Mid-term will consist of two parts:

• Long Questions (between 70-80 marks)
• Statement of Cash Flows (Chapter 4) and Revenue (Chapter 5) are the
important chapters. The combined weight of these chapters will be between
60-70 marks (rough estimation).
• Additionally, there will be a question on ‘The Statement of Profit or Loss and
Other Comprehensive Income’ (chapter 3).

• Multiple Choice Questions (between 10-15 questions, 2 marks each )

• Multiple Choice Questions will mainly test concepts introduced in chapters 1,
2, and 5. But I may also ask questions from chapter 3.
The Mid-term will cover the following material:
Chapter Topic Coverage
(page no.)

Ch. 1 Conceptual framework 19 – 31 (Part B)

Time value of money (covered in tutorial sessions) 27

Ch. 2 Financial disclosures 62 – 72 (Part B)

Ch. 3 Comprehensive income 115 – 118

Profits from continuing operations and earnings quality 118 – 128

Discontinued operations 128 – 133

Accounting changes 133 – 136

Ch. 4 Content and value of the Statement of Cash Flows (SCF) 178 – 194 (Part A)

Prepare the SCF (Direct method for operating activities) 195 – 218 (Part B)

Prepare the SCF (Indirect method for operating activities) 218 – 222 (Part C)

Ch. 5 IFRS 15 & five-step framework 279 – 300

Recognize revenue at a single point in time 300 – 308

Recognize revenue over a period of time (Percentage of Completion 309 – 330 (exclude 322
Method). – 327)

3
 Resources that will help you prepare for the test
1. The lecture slides, in-class exercises, and class notes (Class discussions
are often much more detailed than lecture slides. If you have missed
a class, it is a good idea to ask for help from a friend who attended
the class).
2. Tutorial presentation material, assignments, and discussion questions
3. Midterm test revision exercise
4. The textbook (if you carefully read the textbook, and practice solving
some questions from the book, you will definitely ace the test.
Unfortunately not too many students read the textbooks If you
want to solve problems in addition to the ones provided by Sam and
me, feel free to solve them and show your answers to Sam. Sam will
go over the solutions with you.
 Office Hours
1. I will hold regular office hours on Tuesday, March 5 (no need to make
an appointment).

2. Sam will also hold office hours during the reading break (please
contact him to make an appointment).