NYU Stern School of Business

Undergraduate College

C10.0001.005: PRIN OF FINANCIAL ACCTG

Spring 2011

Instructor Details

Nezlobin, Alexander

anezlobi@stern.nyu.edu

Wednesday, 2-4 pm

KMC 10-84

 

Course Meetings

TR, 11:00am to 12:15pm

Tisch T-LC25


Final Exam:

Schedule exceptions
    Class will not meet on:
    Class will meet on:

 

Course Description and Learning Goals

Accounting produces much of the information used within corporations. Accounting information is used in valuation, in contracting, by investors, by creditors, by managers and by the government. A good understanding of accounting is one of the basic building blocks of business education.

This course introduces the fundamentals of accounting. We will approach the subject from a user's point of view, not the accountant, although this does require extensive work on how accounting information is prepared. By the end of this course, you should be able to read and understand financial statements.

The course begins with the simplest and most important rules of accounting. We begin by looking at the three fundamental financial statements – the balance sheet, the income statement, and the statement of cash flows. Particular attention is paid to how the three statements interact with each other. We then move on to specific topics in accounting.

The United States is moving towards adopting international accounting standards. We will be looking at U.S. GAAP and what kinds of changes you can expect to see in the future. We will see how these changes will impact you both as a student of accounting and as a future user of accounting information.

 

Course Pre-Requisites

None.

 

Course Outline

1/25

Introduction

1/27

 

2/1

Read Chapter 1

2/3

Homework Review

2/8

Read Chapter 2: The Income Statement

2/10

Homework Review

2/15

Read Chapter 3: Recording Transactions

2/17

Homework Review

2/22

Accounting Adjustments Read: Chapter 4 – Using Financial Statements

2/24

Homework Review.

3/1

Review

3/3

Exam 1

3/8

Read: Chapter 6: Revenue Recognition and Cash, Accounts Receivables

3/10

Homework Review

3/22

Read: Chapter 7: Inventories & Cost of Goods Sold

3/24

Homework Review

3/29

Read: Chapter 8: Long Lived Assets & Depreciation

3/31

Homework Review

4/5

Review

4/7

Exam 2

4/12

Read: Chapter 9: Liabilities & Interest (Introduction to Present Value Concepts)

4/14

Homework Review

4/19

Read: Chapter 9: Present Value Concepts and Long-term Bonds & Leases

4/21

Homework Review

4/26

Read: Chapter 5: Statement of Cash Flows

4/28

Homework Review

5/3

Read: Chapter 10: Stockholder’s Equity

5/5

Review

 

Final Exam

 

Required Course Materials

The required text is Horngren, Sundem, Elliot, and PhilbrickIntroduction to Financial Accounting, Custom Edition for C10.0001, Prentice-Hall, 10th Edition. You may not use the 9th Edition. All assigned readings and homework problems are from the text.

 

Assessment Components

Assessment is based on three exams, homework assignments and several short quizzes. The first two midterms will be held on March 3d, 2011, and April 7th,  2011, respectively. There are no make-up exams. All exams are cumulative. The exams will be weighted: 20%, 25% and 35% respectively. Homework and quizzes will account for 15%. There are no make-ups. Attendance is a must. If you miss an exam (for a legitimate reason) – at my discretion – the next exam will be counted as cumulative for the point value of the missing exam. Class participation and professionalism constitute the remaining 5% of your grade. You may not schedule your flights to go home before our Final Exam.

 

Group Projects

Guidelines for Group Projects

Business activities involve group effort. Consequently, learning how to work effectively in a group is a critical part of your business education.

Every member is expected to carry an equal share of the group’s workload. As such, it is in your interest to be involved in all aspects of the project. Even if you divide the work rather than work on each piece together, you are still responsible for each part. The group project will be graded as a whole:   its different components will not be graded separately. Your exams may contain questions that are based on aspects of your group projects.

It is recommended that each group establish ground rules early in the process to facilitate your joint work including a problem-solving process for handling conflicts. In the infrequent case where you believe that a group member is not carrying out his or her fair share of work, you are urged not to permit problems to develop to a point where they become serious. If you cannot resolve conflicts internally after your best efforts, they should be brought to my attention and I will work with you to find a resolution.

You will be asked to complete a peer evaluation form to evaluate the contribution of each of your group members (including your own contribution) at the conclusion of each project. If there is consensus that a group member did not contribute a fair share of work to the project, I will consider this feedback during grading.

 

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.

 

Re-Grading

In line with Grading Guidelines for NYU Stern Undergraduate College, the process of assigning of grades is intended to be one of unbiased evaluation. This means that students are encouraged to respect the integrity and authority of the professor’s grading system and discouraged from pursuing arbitrary challenges to it.

If you feel that an inadvertent error has been made in the grading of an individual assignment or in assessing the overall course grade, a request to have the grade re-evaluated may be submitted. You should submit such requests to me in writing within 2 days of receiving the grade, including a brief written statement of why you believe that an error in grading has been made. I reserve the right to regrade the exam or assignment in question in its entirety.

 

Professional Responsibilities For 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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