NYU Stern School of Business

Undergraduate College

ACCT-UB.0001.003 (C10.0001): PRIN OF FINANCIAL ACCTG

Spring 2013

Instructor Details

Shehata, Amal

ashehata@stern.nyu.edu

646-528-9054

Wednesdays 12:30 – 1:30pm and by appointmen

KMEC 10-70

 

Course Meetings

MW, 2:00pm to 3:15pm

Tisch T-LC25

 

Course Description and Learning Goals

The purpose of this course is for you to learn how to read, understand, and analyze the financial statements of most publicly-traded companies with the perspective of external users: investors, creditors, customers, suppliers, government regulators, and business school students.  Achievement of this goal requires an understanding of the basic principles that underlie accrual accounting, as well as an appreciation of the amount of judgment required in applying these principles.  I will regularly refer to current events that show the impact of accounting in the business world and I will use the Jones Group Company as a real-world example.  A solid understanding of accounting is one of the basic building blocks of the business world.

 

Course Outline

Please note: the dates and assignments listed below are subject to change:

 

DATE

CHAPTER

ASSIGNMENT:  complete assignments prior to the corresponding class date

January 28, 2013

Chap 1:  Financial Statements and Business Decisions, including supplement A

 

January 30, 2013

Finish Chap 1 and begin Chap 2:  Investing, Financing Decisions & the Balance Sheet

Ch 1:  Q:  9,18

E1-2, E1-4, E1-9, E1-11

CP1-1 (use JG annual report)

February 4, 2013

Chap 2:  Investing, Financing Decisions & the Balance Sheet

Ch 2:  Q:  2, 3, MC3, MC7, MC9, E2-3, E2-5, E2-7, P2-5

February 6, 2013

Finish Chap 2, begin Chap 3:  Operating Decisions & the Income Statement

 

February 11, 2013

Chap 3:  Operating Decisions & the Income Statement

Ch 3:  MC 5, M3-2, M3-5, M3-6, M3-7, M3-8, E3-2, E3-7, P3-4

February 13, 2013

Finish Chap 3 & begin Chap 4:  Adjustments, Financial Statements & the Quality of Earnings

 

February 20, 2013

(no class on February 18)

Chap 4:  Adjustments, Financial Statements & the Quality of Earnings

Ch 4:  E4-6, E4-8, E4-14, E4-15, E4-18, E4-19, E4-20

optional:  P4-7 (for more practice)

February 25, 2013

Finish Chap 4 & Chap 5 pages 240-244

Ch 5:  E5-10, E5-12

February 27, 2013

Midterm 1

 

March 4, 2013

Chap 6:  Sales Revenue, Receivables & Cash (including supplement on p. 304)

Ch 6:  E6-3, E6-5, E6-9, E6-10, E6-14, E6-16, E6-19, E6-20, E6-23, P6-3

March 6, 2013

Chap 6:  Sales Revenue, Receivables & Cash

 

March 11, 2013

Finish Chap 6 and begin Chap 7:  Cost of Goods Sold & Inventory (including Supp A, but not Supp B or C)

Ch 7:  E7-2, E7-5, E7-8, E7-11, E7-17, E7-20, P7-5, P7-9

March 13, 2013

Chap 7:  Cost of Goods Sold & Inventory (including Supp A, but not Supp B or C)

 

March 25, 2013

(no class March 18 and 20 for Spring Break)

Finish Chap 7 & begin Chap 8:  Property, Plant & Equipment; Natural Resources; & Intangibles

 

March 27, 2013

Chap 8: Property, Plant & Equipment; Natural Resources; & Intangibles (including Supp on p. 418-419 & read CP8-9 on p. 449)

Ch 8:  M8-3, E8-3, E8-5 + E8-21, E8-8, E8-12, E8-13, E8-17,  E8-22, P8-6

April 1, 2013

Chap 9:  Liabilities (including Supplement B & C)

Ch 9:  E9-1 , E9-2, E9-13, E9-15, E9-24, P9-4, P9-6,  P9-12

April 3, 2013

Chap 9:  Liabilities

 

April 8, 2013

Finish Chap 9 & review

 

April 10, 2013

Midterm 2

 

April 15, 2013

Chap 10:  Bonds (including page 530 but not Supp A or B)

Ch 10:  E10-14, E10-15, E10-19, E10-23, P10-7, P10-8, P10-10

April 17, 2013

Chap 10:  Bonds

 

April 22, 2013

Chap 10:  Bonds

 

April 24, 2013

Chap 13:  Statement of Cash Flows, including Supp A & B (not C)

Ch 13:  E13-11, E13-13, E13-15, E13-21, P13-4, P13-5

April 29, 2013

Chap 13:  Statement of Cash Flows

 

May 1, 2013

Chap 13:  Statement of Cash Flows

 

May 6, 2013

Finish Chap 13 & begin Chap 11:  Owner’s Equity (including Supplement)

Ch 11:  M11-9, E11-4, E11-6, E11-10, E11-15, E11-18, E11-19, E11-24, P11-9

May 8, 2013

Chap 11:  Owner’s Equity

 

May 13, 2013

Review

 

TBD

Cumulative Final Exam

 

 

Required Course Materials

 

Assessment Components

Grading:

Quizzes/HW                                                    10%

Annual Report Project                                     10%

Midterm I                                                         20%

Midterm II                                                       25%

Final Exam                                                      35%

Quizzes:

There will be periodic, closed book/closed notequizzes on previously covered material and homework assignments.  Quizzes will be announced in advance, will last approximately 10 minutes and will be heldat the beginning of the class period.  Make-ups are not permitted but the lowest quiz score will be dropped, allowingyou to miss one quiz without penalty. No make-up quizzes will be given.  Students who complete their quiz in advance of their classmates should refrain from talking or making any disruptive noise until all quizzes have been collected.

Midterms and Exams:

There will 2 mid-term exams and a final exam.  All exams will be closed book/closed notes and the final exam will be cumulative.   Make-up exams are not permitted.  Nonprogrammable calculators are permitted (no computers, smartphones or blackberries). 

 Homework:

Homework assignments are provided on the syllabus and students should plan to spend 2-3 hours of preparation for each hour of class time on average.  Homework solutions will be available on Blackboard, however, I strongly encourage you to attempt the assignments without using the solutions until complete.  Homework will not be collected unless explicitly stated; however, the assignments will represent the material you should understand for quizzes and exams.  It is critical that you complete the assignments in order to learn the material. I will announce any assignments to be collected in advance.

 Annual Report Project:

The Annual Report Project (ARP) is designed to give you practice in interpreting and analyzing company financial information.  The project will be completed in groups of 3-4 students.  Full details are provided on a separate handout.

 Class Meetings

Assigned readings and homework assignments should be completedprior to the relevant class session and selected problems will serve as a vehicle for class review.  Our class time will be spent developing a deeper understanding of the material you have already read and homework problems you have completed independently; my lectures will focus on the more challenging concepts presented in your textbook and I will aim to present the “big picture” of how the concepts build upon each other and relate to each other.  We will regularly solve problems together and I will refer to real world examples.  Lecture notes will be available on Blackboard prior to the class meeting. Students are requested to arrive to class on time and remain for the entire class period.  During class, please turn off all audible technology (i.e. phones,  pocket PCs, iPod’s iPad’s etc.) as well as laptop computers.

 Attendance, Participation and Class Preparation:

I encourage and expect full attendance and participation during our class time; if you will miss class for exceptional circumstances, please let me know in advance.  Our time together will consist of interactive discussion and collaborative problem-solving so please come prepared to focus and contribute to a quality working session. 

Blackboard:

I will use Blackboard regularly to email you, post lecture notes, homework solutions, relevant articles and other course material so please make sure you are correctly registered and checking our sight on a regular basis.

 

Grading

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: 

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.

 

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:

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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