Please contact NYU IT (email@example.com, 212-998-3333) or NYU Stern IT (firstname.lastname@example.org, 212-998-0180) for all ZOOM/email/NYU Brightspace/Admin/CapitalIQ issues. Please do not copy/contact me. Brightspace sends all emails to the @nyu.edu (not @stern.nyu.edu) address, while Stern class mail lists send emails to @stern.nyu.edu. You must check BOTH emails and use the correct browser profile. Please contact IT to figure this out. Do not write to Almaris or me if you do not get Almaris emails because this issue is between NYU and you.
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.
Attendance and penalty for missing classes
Requiring attendance is necessary for several reasons. First, you incorrectly assume that you can catch up on a missed class by watching a recording (if available). Videos do not engage your brain as much as a live class. Second, less than 20% of you watch the recording (if available). You are then lost in class, which provides wrong signals to me as an instructor. Third, your absence hurts class discussions. Fourth, you miss out on feedback if you do not work through the questions I pose in class. Fifth, I lose the feedback since there are fewer questions.
The policy below will be in effect only after the add/drop period.
Without mandatory attendance, attendance is often below 50%. Therefore, though I dislike doing this, I penalize absences. If you anticipate being absent for good reasons, please email me well in advance. Please enter "Excused" on the attendance sheet described below to avoid the penalty if I approve. If you miss a class due to emergencies and cannot tell me in advance, do not panic. Take care of the emergency first, and then email me. I will permit you to change the "Absent" to "Excused." But, if you miss a class without a valid reason, there is a penalty, as stated below.
For sections meeting in 150-190 minute sessions, you would lose one grade (A to A-, A- to B+, B+ to B, B to B-, and so on) for EVERY missed session unless you were explicitly excused via email. Thus, if you miss two class sessions, you would lose two grades, and so on.
For sections meeting in 75-80 minute sessions, you would lose one grade (A to A-, A- to B+, B+ to B, B to B-, and so on) for EVERY TWO missed sessions unless you were explicitly excused via email. Thus, if you miss four class sessions, you would lose two grades, and so on.
Please sit in the same seat in every class and display your name tags. For zoom classes, you must keep your video on AT ALL TIMES. You must also have a good working headset or mic as it is extremely rude to be inaudible and force me to ask you to repeat yourself.
After entering the class, please mark yourself present in the first 20 minutes on the OneDrive sheet (link posted on Brightspace). You will be marked absent if you are more than 20 minutes late unless it is because of factors beyond your control (traffic, subway, interviews running late). You will also be marked absent if you leave the class early unless you have my permission or get it afterward. You will get an F in the course if you are caught cheating on the attendance sheet.
Exams and Grading
- Please read about the penalty for missed absences above.
- 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