All class emails are sent to the email address per the NYU Brightspace roster. The Almaris system (if used for your class) also uses the same email. NYU Brightspace lists @nyu.edu email for some of you and @stern.nyu.edu email for others. I don’t control these matters, nor can I change them. Please contact NYU IT (212-998-3333) or NYU Stern IT (212-998-0180) to learn how to read/forward/check spam for @nyu.edu as well as @stern.nyu.edu accounts. Contact them for all ZOOM/email/NYU Brightspace/Admin/CapitalIQ issues. If NYU/Stern support cannot help you, please escalate these matters to Student Affairs/Dean's office without involving me. I will not respond to support requests. Almaris support cannot change emails. You can do so by clicking on the link "Change email" on their main login page.
This course will explain financial accounting from a new angle so that you have some of the background necessary for intermediate courses in financial reporting, analysis, and modeling. The course presents a framework for analysis and provides spreadsheets to implement the framework.
- Class sessions will NOT be recorded. No remote access will be allowed. You must be present physically in class.
- Please get the most recent version of Excel. Microsoft Office 365 is free for students and has the most recent Excel version. That works the best. I will illustrate Excel functions that do not work in versions released before 2021. Please contact Stern IT for Office 365 installation.
- Both Windows and MAC will work, although the Windows version is easier to use. Since Stern podiums have Windows, I will be using Windows in class.
Help and Office
- Teaching assistant:
TBD Contact TAs first.
Please do NOT copy me on your messages to the TAs.
- Me: email@example.com,
212-998-0021, Office: KMC 10-86.
- I use my materials. Therefore, there is no required textbook, and you need not purchase anything.
- Please do not email me to reconfirm any of the statements below.
- The assignments appear as tests on Almaris. I may update the deadlines as the course progresses. The deadlines shown at Almaris are the correct deadlines.
- Some assignments are short; others are long. Please manage your time.
- NO EXTENSIONS will be granted for any reason except medical or family emergencies. If you have religious or personal conflicts, please submit the assignments early. The related materials are covered well in advance of the assignments. Please do not email me to request extensions unless you have a medical or family emergency.
- You can collaborate with others while doing
- All assignments are mandatory. After the first day of class, you can view the online assignments at http://www.almaris.com/assess/ using your official Stern email (no aliases) and the most recent password emailed to you by Almaris. The Almaris password is different from the Stern password. To retrieve the password, use your full email with the domain name as it appears in Brightspace. The domain name could be @nyu.edu for some of you, while for others, it could be @stern.nyu.edu. I do not control this mess.
- Assignments are marked “late” if you do not meet or exceed the passing score described below before the deadline. There is no additional penalty for lateness other than the low score.
- Assignments have a “passing score” of either 100% or less than 100%.
- I set the passing score at 100% if you should ace the assignment. Whatever you get on your last attempt is your final score. That is, you are graded on accuracy but not the number of attempts. You have "completed" the assignment if you score 80 percent or more on the final attempt.
- I set the passing score of less than 100% on a few assignments if you might not get every question right. Any score above that score is rounded up to 100%. For example, if the passing score is 90%, and you get 93%, your score is rounded up to 100%. I do the rounding up in a separate spreadsheet. You will see only the raw score online.
- Almaris is not affiliated with Stern in any way. It is offering these tests to Stern at no charge.
- Almaris staff is not authorized to extend deadlines under any circumstances. Only my TAs can do that. Almaris staff will reply to your emails only if they pertain to technical issues with the Almaris system. Please contact Stern IT for technical issues with your network.
Exams and Grading
- Assignments: 30% of the course grade. Incomplete assignments will result in a failing grade.
- Final exam: 70% of the course grade. An overall score of 80% on the final exam will be considered a passing score if you have completed the assignments. However, your course grade will be an F regardless of the exam score if you do not complete the assignments. The exam has a penalty for multiple attempts, as described on the login page on Almaris.
There will be five class sessions of three hours each. The last session will be the final exam.
- Accounting terms, transactions, and systems
- The logic of the double-entry bookkeeping systems
- How the separation of duties is used to reduce fraud
- Performance measures: Cash flows versus income flows
- Accrued revenues or receivables
- Deferred revenues or advances
- Accrued expenses or payables
- Deferred expenses or prepayments
- Design of incentive systems
- The core set of business transactions and how they affect the following statements:
- Balance sheets
- Income statements
- Indirect cash flow statements
- Direct cash flow statements
- Costs versus expenses versus payments
- Period costs versus inventoriable costs versus separately capitalized costs
- Inventories: Raw materials, work in process, and finished goods
- Cost flow assumptions: LIFO versus FIFO
- Property, plant, and equipment: Gross PP&E, Accumulated depreciation, and Net PP&E
- Which costs are capitalized
- Useful life versus economic life versus physical life; Salvage values; Depreciation patterns
- How depreciation of manufacturing equipment is inventoried
- Gains and losses on the sale of PP&E
- PP&E impairments