NEW YORK UNIVERSITY
Stern School of Business
Principles of Financial Accounting C10.000.01
Fall 2008
Instructor: Walter K. Scott, Esq.
Daytime Telephone: 973-716-7524
Email: wscott@stern.nyu.edu
Cell – 201-410-2525
Office: KMEC 10-98
Classroom: KMEC 4-60
Office Hours: before and after class or by appointment
TA: TBD
TA Email: TBD
TA Office Hours/Room: TBD
Course Description:
This course provides an introduction to the fundamental concepts of financial accounting.
The objective of the course is to help you become intelligent readers of financial
statements: the balance sheet, income statement, statement of retained earnings and cash
flow statement. 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 refer to current events that show
the impact of accounting in the business world. A solid understanding of accounting is
one of the basic building blocks of business education.
Course Requirements:
 Attendance and class participation are expected and will make the class more interesting.
 Assigned readings and homework assignments should be completed prior to the
relevant class session and selected problems will serve as a vehicle for class review
 Homework assignments will not be collected unless specifically noted ahead of time,
however, 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.
 There will be some periodic, short quizzes covering previously covered material.
Quizzes will be announced in advance and will last approximately 10 minutes.
Make-ups are not permitted but the lowest quiz score will be dropped.
 Please check Blackboard regularly for announcements and postings.
Required Text and Material:
 Horngren, Sundem & Elliot, Introduction to Financial Accounting, Custom Edition,
Prentice Hall, 9th Edition (you cannot use the 8th edition).
 Supplemental case studies book (shrink-wrapped with the textbook); this is required
for the core enhancement portion of your grade.
 Bring your text to each class session.
Grading:
Quizzes, Homework & Class Participation
Core Enhancement
Midterm Exam I
Midterm Exam II
Final Exam
10%
10% (details to be provided in class)
25%
25%
30%
All exams are cumulative and there are no make-up exams. Calculators are
permitted (no computers or blackberries).
Please note: the dates and assignments listed below are subject to change:
DATE
September 2, 2008
September 4, 2008
September 9, 2008
September 11, 2008
September 16, 2008
September 18, 2008
September 23, 2008
September 25, 2008
CHAPTER
Introduction of Chapter 1:
Accounting: The Language of
Business
Chapter 1: Accounting: The
Language of Business
Chapter 2: Measuring Income to
Assess Performance
Chapter 2: Measuring Income to
Assess Performance
Chapter 3:
Recording Transactions
Chapter 3: Recording Transactions
October 2, 2008
No Class
Chapter 4: Accrual Accounting and
Financial Statements
Chapter 4: Accrual Accounting and
Financial Statements
Midterm 1
October 7 & 9 2008
Core Enhancement
(no class October 14, 2008)
October 16, 2008
Chapter 6: Accounting for Sales
September 30, 2008
October 21, 2008
October 23, 2008
November 6, 2008
November 11, 2008
November 13, 2008
November 18, 2008
Chapter 6: Accounting for Sales
Chapter 7: Inventories and Cost of
Goods
Chapter 7: Inventories and Cost of
Goods
Chapter 8: Long-Lived Assets and
Depreciation
Chapter 8: Long-Lived Assets and
Depreciation
Review
Midterm 2
Chapter 9: Liabilities and Interest
Chapter 9: Liabilities and Interest
November 20, 2008
Chapter 9: Liabilities and Interest
November 25, 2008
Chapter 5: Statement of Cash
Flows
November 27, 2008
December 2, 2008
December 4, 2008
December 9, 2008
No Class (Thanksgiving)
Chapter 5: Statement of Cash
Flows
Chapter 10: Stockholder’s Equity
Chapter 10: Stockholder’s Equity
December 11, 2006
Review
TBD
Cumulative Final Exam
October 28, 2008
October 30, 2008
November 4, 2008
ASSIGNMENT
Chap 1: 26, 31, 33, 35, 36,
38
Chap 2: 34, 35, 45, 48, 49,
55
Chap 3: 19, 24, 27, 30, 34,
40, 49
Chap 4: 24, 30, 31, 35, 39,
46, 53
Chap 6: 34, 37, 41, 42, 45,
49, 54, 56, 58
Chap 7: 31, 34, 36, 41, 47,
48, 55, 56, 58, 66
Chap 8: 27, 29, 31, 37, 42,
47, 51, 53, 75
Chap 9: 33, 34, 40, 44, 46
Chap 9: 37, 53, 54, 56, 59,
63
Chap 5: 32, 40, 45, 47, 57,
62
Chap 10: 34, 37, 45, 46, 48,
55, 60, 62, 75