Accounting for Decision Makers (ACC 1701) Lecture 1: An Introduction

This document presents the lecture notes for the first lecture of ACC 1701, "Accounting for Decision Makers," taught by Dr. Hanny Kusnadi at the National University of Singapore (NUS). The lecture introduces the course, administrative details, and the importance of accounting in the business world. It covers topics such as the need for accounting, users of accounting information (both internal and external), the accounting system, different types of business entities (sole proprietorship, partnership, and corporation), financial accounting standards (IFRS and Singapore FRS), the IASB conceptual framework, qualitative characteristics of accounting information (relevance, faithful representation, comparability, verifiability, timeliness, and understandability), and the importance of ethical conduct in accounting. The lecture emphasizes the role of financial statements in providing reliable information for decision-making and highlights the impact of accounting scandals driven by poor ethics. The lecture also outlines the assessment components, tips for succeeding in the class, Zoom lecture etiquette, and procedures to follow when technology fails. The lecture uses examples like Andy's AI Company and Amazon's financial data to illustrate key concepts. It also introduces the use of PollEv for interactive activities and provides an overview of Chapters 1 and 2, focusing on accounting in business and financial statements.

ACC 1701
Accounting for Decision Makers
Lecturer: Dr. Hanny Kusnadi
ACCOUNTING
The language of the business world

ACC 1701 (AY2122S1) LECTURE 01 (Dr. Hanny Kusnadi) 2
Before moving on to the exciting official stuff that is Accounting,
let’s establish communication among the class and
also discuss some administrative issues.
Welcome to ACC 1701!

ACC 1701 (AY2122S1) LECTURE 01 (Dr. Hanny Kusnadi) 3
▪ Share with me, and the class, a little about yourself in the following shared google
doc slides (just add on slides into the file):
“Let’s get to know each other – Section LV1”
“Let’s get to know each other – Section LV2”
Please do it after the lecture in your own time.
▪ It’s a really big lecture, so I cannot guarantee I will remember all of you by the end of
the course.
▪ BUT I will try my very very best to!!!
▪ Since we will be spending the next couple of weeks together, I would really like to
get to know all of you.
Who am I + Who are you?

ACC 1701 (AY2122S1) LECTURE 01 (Dr. Hanny Kusnadi) 4
▪ Class website: https://luminus.nus.edu.sg/
▪ Textbook: “Financial Accounting: IFRS Edition”, 3e by Stice, Stice, Albrecht,
Swain, Duh, and Hsu (Cengage)
▪ Lectures/Tutorials format:
▪ Lectures: ONLINE via Zoom
Weekly tutorials start from Week 3
▪ Tutorials: Hybrid (mix of f2f and online delivery)
Note: Mode of delivery for lectures and tutorials might be subjected to changes depending on the
current safe distancing measures in place. Any changes will be announced to the class.
▪ My office hours: By appointments only.
▪ Email me at [e-mail] to schedule a virtual/f2f meeting.
Some administrative items

▪ Further details on each component are provided on LumiNUS
Assessment
5ACC 1701 (AY2122S1) LECTURE 01 (Dr. Hanny Kusnadi)
Weight
Class Participation (from tutorials) 20%
Group Project 30%
Final examination 50%
TOTAL 100%

▪ Before each lecture, read the assigned chapter ahead of time and
review the lecture slides before class. This will benefit you.
Tips for surviving this class successfully
6ACC 1701 (AY2122S1) LECTURE 01 (Dr. Hanny Kusnadi)
▪ After each lecture, review the materials after class. This will help you “digest” the
materials covered.
▪ Attempt the assigned self-study practice problems and review the given solutions
carefully at your own time. This will help to further solidify your understanding of the
materials.
▪ Complete all the assigned tutorial questions before your tutorial sessions and be prepared
to contribute to the discussions during tutorial classes. The quality of tutorials will also
depend on your contributions to the class.
▪ Always raise questions when you have them. Do not let them accumulate as each chapter
builds on prior chapter(s). Make sure you do not let yourself fall behind!
▪ Enjoy and immerse yourself in the wonders of accounting!

ACC 1701 (AY2122S1) LECTURE 01 (Dr. Hanny Kusnadi) 7
Zoom Lecture Etiquette
▪ Log into sessions 5-10 minutes before lecture time using your NUS Zoom account. Only
authenticated users will be allowed into the zoom session.
▪ Turn on your camera. I would love to see your happy face ☺You are most welcome to use
a virtual background.
▪ Dress appropriately. Clothing is not optional!
▪ Keep audio on mute at all times. You will be given time to ask questions during the break or
after the lecture, unmute yourself during this time to ask questions.
▪ I will NOT monitor or respond to the chat box during lecture.
▪ Questions should be directed to the Discussion forum in LumiNUS.
▪ Avoid doing other tasks not related to lecture. (e.g. checking emails, chatting, playing games)
▪ Inappropriate language will not be tolerated. I will remove students from the zoom session if
you are engaging in inappropriate or distracting behavior.
# 1 Rule to adhere to at all times: BE PROFESSIONAL

ACC 1701 (AY2122S1) LECTURE 01 (Dr. Hanny Kusnadi) 8
When technology fails us
1) Please do NOT panic!
2) Wait a minute or two and try logging in again to the same zoom lecture link.
3) Please be patient. I could be having connection issues from my side.
4) If after 10 minutes, the zoom session has not restarted, please check your email for
an announcement from me (if I am able to send announcement, I will do so)
5) If after an additional 5 minutes, the zoom session still has not restarted, that
probably means that technology has failed me that day. It is unlikely lecture will
continue, and therefore class is dismissed for the day. I will make a video recording
for the remaining materials not yet covered in the lecture and upload it to
LumiNUS.
Everyone has bad days, and so can Technology.
What to do when the Zoom session stops in the middle of lecture:

ACC 1701 (AY2122S1) LECTURE 01 (Dr. Hanny Kusnadi) 9
Let’s do some Accounting!
Let’s get started
Show time!

Accounting in Business
& Financial Statements Overview
Chapter 01 & 02

Let’s link to PollEv
Important Note on PollEv
▪ I will be using PollEv frequently throughout my
lectures. The link for all PollEv activities in
class is:
PollEv.com/bizhann
▪ Or scan the QR code.
▪ You may want to bookmark my presentation link
for future lecture.
ACC 1701 (AY2122S1) LECTURE 01 (Dr. Hanny Kusnadi) 11

ACC 1701 (AY2122S1) LECTURE 01 (Dr. Hanny Kusnadi) 12
▪ Andy just graduated from NUS.
▪ He is starting his own artificial intelligence (AI) company providing
automated business solutions.
▪ To grow his business, he needs $10 million!
▪ BUT, the ten million dollar question is:
Where can Andy get $10 million?
The need for Accounting:
Andy’s AI Company
• Personal savings
• Family & friends
• Bank loan
• Private investors
• Go Public!