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NYU Stern School of Business

Undergraduate College


Fall 2010

Instructor Details

Maindiratta, Ajay


TR 3:30 pm - 4:45 pm, Room T 200

KMC 10-90







Course Meetings

TR, 3:30pm to 4:45pm

Tisch T-200


Course Description and Learning Goals

OBJECTIVE: This course will introduce you to the language of financial accounting and its position within the information system of a firm's external constituencies (principally investors) given the market and institutional setting in which resource allocation decisions are made by them. The course will help you become "financial statement literate". To this end you will be familiarized with the concepts, principles, practices and mechanics underlying the preparation of these statements and to the ways in which users utilize them. The strengths and limitations of current financial accounting practice and the implications of alternative accounting policies will be highlighted.


Required Course Materials

Introduction to Financial Accounting, Second custom edition (Horngren, Sundem, et. al. 9th Edition)



You are assigned one or more chapters and occasional additional readings for each lecture. You may, but do not have to read the chapter before class. You should read it after the class discussion as a review, and also for coverage of related material that you should generally be aware of (but not necessarily proficient in from the point of view of the exam).

We will use Blackboard as our online course management system. Make sure to login for copies of (missed) course materials, homework solutions and periodic announcements.


Course Outline

ESSION OUTLINE (subject to minor changes)


(You are NOT required to read Chapter Appendices unless otherwise instructed.)




1                            Introduction
2                            Chapter 1: Entities & Balance Sheets
3                            Chapter 1 continued 
4                            Chapter 2: Income Measurement: The Accrual versus the Cash Basis for reporting the Results of Operations
5                            Chapter 2 continued; Chapter 3: T accounts and debits and credits
6                            Chapter 3 continued
7                            Chapter 4:  Adjusting entries and review of the recording cycle
                             Practice midterm distributed

8                            Midterm review

9 (Oct 5)               1st Mid-term
10   & 11               Problems involving missing numbers and recasting statements
12 to 14                Accruing expenses and setting up reservesWarranties (Chapter 9), Uncollectibles & Returns (Chapter 6)
15 & 16                Chapter 7: Inventories and Cost-of-Goods-Sold
                             Practice 2nd midterm distributed

17                          Midterm review

18 (Nov 4)            2nd Mid-term

19                          Readings – to be distributed
20 & 21                 Chapter 5: The Statement of Cash Flows

22                          Chapter 8: Long-lived assets

23 & 24                 Chapter 9: Present value concept
                               Accounting for notes payable

25 & 26                 Chapter 9 contd. Bonds


27                          Chapter 10. Stockholder’s Equity (select topics -see class notes)

                              Practice Final distributed

28                          Final Review

FINAL EXAM      Date and Time will be announced by the Registrar’s office


Assessment Components

HOMEWORK problems are intended for you to test your comprehension of the material covered in class and as such are assigned after class. Two sets of problems will generally be assigned -“Practice” and “Submission”. Solutions to the latter have to be turned in electronically by the beginning of the next class (using the assignment feature in BB). Do not put off submission till the very last minute – BB does not sometimes co-operate. Group work on homework is encouraged, but individual submissions are required. Solutions to Practice problems will be posted promptly on Blackboard to facilitate your learning, while solutions to Submission problems will be posted once they have been turned in. You must keep a copy of your homework and check it yourself against the posted solutions. Homework will not be graded or be a formal part of your evaluation. However, if you do poorly in the exams, then, before determining your final grade, I will review the quality and frequency of your homework submissions.

Notebook computers may not be opened in class.

Attendance is mandatory and will be randomly taken. If too many students come late too often, I may deny admission into the classroom five minutes after the class commences.

Exams may not be rescheduledexcept in case of a documented family or medical emergency.

EVALUATION: Your evaluation will be based on the following:

            First exam                                                                                                        20%

            Second exam                                                                                                   35%    

            Final Exam                                                                                                      45%

To reward improvement, your exams will alternatively be weighted 15%, 30% and 55%.




At NYU Stern we seek to teach challenging courses that allow students to demonstrate their mastery of the subject matter.  In general, students in undergraduate core courses can expect a grading distribution where: 

  • 25-35% of students can expect to receive A’s for excellent work
  • 50-70% of students can expect to receive B’s for good or very good work
  • 5-15% of students can expect to receive C’s or less for adequate or below work 

Note that while the School uses these ranges as a guide, the actual distribution for this course and your own grade will depend upon how well you actually perform in this course.


Professional Responsibilities For This Course


  • Class attendance is essential to your success in this course and is part of your grade. An excused absence can only be granted in cases of serious illness, grave family emergencies, or religious observance and must be documented. Job interviews and incompatible travel plans are considered unexcused absences. Where possible, please notify me in advance of an excused absence.



In-class contribution is a significant part of your grade and an important part of our shared learning experience. Your active participation helps me to evaluate your overall performance.
You can excel in this area if you come to class on time and contribute to the course by:

  • Providing strong evidence of having thought through the material.
  • Advancing the discussion by contributing insightful comments and questions.
  • Listening attentively in class.
  • Demonstrating interest in your peers' comments, questions, and presentations.
  • Giving constructive feedback to your peers when appropriate.



  • Late assignments will either not be accepted or will incur a grade penalty unless due to documented serious illness or family emergency. Exceptions to this policy for reasons of religious observance or civic obligation will only be made available when the assignment cannot reasonably be completed prior to the due date and you make arrangements for late submission in advance.


Classroom Norms

  • Arrive to class on time and stay to the end of the class period. Chronically arriving late or leaving class early is unprofessional and disruptive to the entire class.  Repeated tardiness will have an impact on your grade.
  • Turn off all electronic devices prior to the start of class. Laptops, cell phones and other electronic devices are a distraction to everyone.


Stern Policies

General Behavior
The School expects that students will conduct themselves with respect and professionalism toward faculty, students, and others present in class and will follow the rules laid down by the instructor for classroom behavior.  Students who fail to do so may be asked to leave the classroom. 


Collaboration on Graded Assignments
Students may not work together on graded assignment unless the instructor gives express permission. 


Course Evaluations
Course evaluations are important to us and to students who come after you.  Please complete them thoughtfully.


Academic Integrity

Integrity is critical to the learning process and to all that we do here at NYU Stern. As members of our community, all students agree to abide by the NYU Stern Student Code of Conduct, which includes a commitment to:

  • Exercise integrity in all aspects of one's academic work including, but not limited to, the preparation and completion of exams, papers and all other course requirements by not engaging in any method or means that provides an unfair advantage.
  • Clearly acknowledge the work and efforts of others when submitting written work as one’s own. Ideas, data, direct quotations (which should be designated with quotation marks), paraphrasing, creative expression, or any other incorporation of the work of others should be fully referenced. 
  • Refrain from behaving in ways that knowingly support, assist, or in any way attempt to enable another person to engage in any violation of the Code of Conduct. Our support also includes reporting any observed violations of this Code of Conduct or other School and University policies that are deemed to adversely affect the NYU Stern community.

The entire Stern Student Code of Conduct applies to all students enrolled in Stern courses and can be found here:

Undergraduate College: http://www.stern.nyu.edu/uc/codeofconduct
Graduate Programs: http://w4.stern.nyu.edu/studentactivities/involved.cfm?doc_id=102505

To help ensure the integrity of our learning community, prose assignments you submit to Blackboard will be submitted to Turnitin.  Turnitin will compare your submission to a database of prior submissions to Turnitin, current and archived Web pages, periodicals, journals, and publications.  Additionally, your document will become part of the Turnitin database.


Recording of Classes

Your class may be recorded for educational purposes


Students with Disabilities

If you have a qualified disability and will require academic accommodation of any kind during this course, you must notify me at the beginning of the course and provide a letter from the Moses Center for Students with Disabilities (CSD, 998-4980, www.nyu.edu/csd) verifying your registration and outlining the accommodations they recommend.  If you will need to take an exam at the CSD, you must submit a completed Exam Accommodations Form to them at least one week prior to the scheduled exam time to be guaranteed accommodation.


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