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Fall 2023
ACCT 115-001: Fund of Financial Accounting ACCT 115-001: Fund of Financial Accounting
Joseph A. Micale
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School of Management Syllabi
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47.
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1
ACCT 115-001: Fund of Financial Accounting
Fall 2023 – Face to Face, In Person
Syllabus
CLASS MEETING
COURSE MATERIALS
INSTRUCTOR
OFFICE (VIRTUAL)
EMAIL
OFFICE HOURS
TR 10:00am-11:20am; CKB 124
All materials and announcements can be accessed from the
course webpage on Canvas (njit.canvas.edu)
Dr. Joseph A. Micale
CAB 2012; Webex Personal Meeting Room: 2623 657 8835
[email protected] (Please include ACCT115 in the
email) Tues 11:30am – 2:30pm; or by appointment
Course Description
This is an introductory financial accounting course. The purpose of this course is to help you develop a
view of what accounting is and how it provides information that is timely and relevant for capital providers
to make decisions. The course will help students to develop skills in applying financial accounting
principles to record business transactions, prepare financial statements, and provide students basic financial
statement analysis tools and techniques. When you master the materials in this course, you will have a
basic understanding of how the activities of an organization are reflected in financial statements.
The course is organized by weekly modules. Course materials can be accessed through
https://canvas.njit.edu/ with specific weekly tasks under each module. The course is designed following a
half-flipped mode. Lectures will take half of the class time and will focus only on important and difficult
issues. The other half of the class time will be student-lead hands-on learning including but not limited to
exercises, projects and cases. Students are expected to preview the lecture notes before class. Students are
responsible for all topics covered in the lecture notes and assignments. Extra materials in the textbook are
not required but may be helpful for studying required materials.
By the end of this course students will be able to:
• Understand the basic financial accounting concepts
• Prepare the four financial statements
• Presenting Financial Statement Analysis highlights of a real company, including ratio, common
sized statement, and trend analysis.
• Perform basic data analytics with Excel
Prerequisites None
2
Textbook
Accounting: Tools for Business Decision Making (with WileyPlus Access Code) by Paul D. Kimmel,
Jerry J. Weygandt, Donald E. Kieso. 7
th
Edition.
NOTE: WileyPlus Code is required. Physical copy of the book is optional. This same text will be
used for BOTH ACCT 115 and ACCT 215 (both required for MTSM students).
Grading and Evaluation
Quizzes
10%
Data Analytics Case Study
15%
Financial Statement Analysis Project
15%
Class Participation
15%
Homework
15%
Exams
30%
• Exams will be administered in person in CKB 124 during scheduled class time
• The Final Exam will be a take home exam and is optional for students. The lowest
grade from all three exams will be dropped.
• The DA Cases and FSA Projects will be completed in groups of 3-4 students.
• Late homework receives 50% of the score. No exceptions.
• Unexcused absences will result in decreases to the class participation grade.
• Bonus boosts will be issued to students for active class participation.
Grading Scale
A
B
C+
C
D
F
90-100
80-84
75-79
70-74
65-69
0-64
Grades are to reflect the level of understanding of course content.
Therefore, to achieve the grade of A or B in this class expect to:
• Attend 100% of the classes. During class new content is explained and then applied using in-class
exercises and activities for better understanding.
• Come to class prepared 100% of the time. This means completing homework prior to class to the best of
your abilities. To maximize learning and your competitiveness in the workplace …
STUDY IT! WORK IT! Don’t give up.
READ IT! COMPLETE IT! Bring your questions to class.
• Actively participate in class discussions, exercises, and activities to further understanding.
Expect the grade of C or lower with less preparation and participation.
3
Incompletes (I) are only given under special circumstances such as severe illness … not for being
unprepared for class or exams. These special circumstances will be confirmed with the office of
the Dean of Students.
EDUCATIONAL ACCESS
Educational access is the provision of classroom accommodations, auxiliary aids and services to ensure equal
educational opportunities for all students regardless of their disability. If you are in need of accommodations due to
a disability please contact Scott Janz (oars@njit.edu), Associate Director of the Office of Accessibility Resources
& Services (OARS), Kupfrian Hall 201, to discuss your specific needs. A Letter of Accommodation Eligibility
from the OARS authorizing your accommodations will be required. Accommodations need to be requested in
advance and will not be granted retroactively.
HONOR CODE regarding Academic Dishonesty: NJIT has a zero-tolerance policy regarding cheating of
any kind and student behavior that is disruptive to a learning environment. Any incidents will be immediately
reported to the Dean of Students. Punishment for Honor Code violations range from a failure in the course plus
disciplinary probation up to expulsion from NJIT with notations on the students’ permanent record. Avoid situations
where honorable behavior could be misinterpreted. For more information on the Honor Code go to
http://www.njit.edu/academics/honorcode.php
CLASSROOM CODE OF CONDUCT
To maximize learning and help transition to a professional work environment.
Success in business depends on the combined performance of the professional team, not the self-
centered interests of one individual. Similarly, a good learning environment is collectively created
and requires the contribution of ALL students within the class. To maximize classroom learning:
• Attend regularly. Arriving on time and departing when class is dismissed.
• Prepare for class. Preview lecture notes and complete assignment if any before class.
• Engage in learning. Being attentive during class. Giving class your undivided attention and actively
contributing to discussion, exercises, and projects.
• Show respect. Listening attentively to others’ thoughts and ideas.
• Stay away from distractions. Clear the desk, put away items such as cellphones that are unrelated to the
class.
4
Learning Goals and Outcomes addressed in this course:
Analytical and
Problem
Solving Skills
Information and
Communication
Skills
Interpersonal
Skills and
Team
Dynamics
Ethical
Reasoning
Technology
Skills
Globalization
X
X
X
X
X
X
Analytical and Problem-Solving Skills
Develop skills to critically analyze business problems.
Apply these skills to the Financial Statement Analysis Project, which requires critical thinking
and strong problem-solving skills.
Information and Communication Skills
Deliver an effective oral presentation using visual aids and answer questions pertaining to the
presentation.
Develop skills to search databases, locate and use data to analyze firms’ financial reports, and
properly cite data sources.
Advance skills that enable effective business writing.
Practice articulating accounting concepts and gaining perspective on discussion questions
through class participation.
Apply these skills to the preparation of a Financial Statement Analysis Project.
Interpersonal Skills and Team Dynamics
Demonstrate the skills of working in teams and achieving common goals.
Develop management and leadership skills.
Understand team roles and relationships that foster cooperation toward goals.
Learn how to manage expectations and deadlines.
Ethical Reasoning
Develop skills to identify ethical dilemmas. Develop a sense of ethical and professional behavior.
Technology Skills
Prepare effective Excel spreadsheets, graphs, and a PowerPoint presentation.
Perform basic data analytics with Excel
Use online learnings and collaborating platforms such as WebEx, Google Docs and Canvas.
Globalization
Understand the impact of globalization and the complexity it brings.
5
Course Schedule
Module
Dates
Topic
Assignments
0
09/05
Course Overview
1
09/05
09/07
Introduction to Financial Statements
Lab Session: Financial Statement
Review
Read Ch 1
Problem Sets
A FStmts
B1 B2 Users/Acct
Equation /FStmts FSA
Project Kick-start
2
09/12
09/14
A Further Look at Financial Statements
Read Ch 2
Problem Sets
C Stmt of Cash Flows
D Classified BS
3
09/19
09/21
09/26
The Accounting Information System
Lab Session: Data Analytics in
Accounting
Data Analytics Case 1
Read Ch 3
Problem Sets
E Ratios/Concepts
R1 R2 Transactions
DA Case 1
4
09/28
10/03
Accrual Accounting Concepts
09/30: Quiz #1 Ch.1 - 3
Read Ch 4
Problem Sets
S Journal Entries
T1 T2 AJE
5
10/05
10/10
10/12
10/17
Merchandising Operations and the
Multi-Step Income Statement
Review for Exam
Read Ch 5
Problem Sets
V CJE
F Multi-step IS
6
10/19
Exam 1
7
10/24
10/26
10/31
Reporting and Analyzing Inventory
Read Ch 6
Problem Sets
G Ratios
H Inventory
LIFO/FIFO/Average/Ratios
8
11/02
11/07
Reporting and Analyzing Long-
lived Assets
Lab Session: Data Analytics
Case 2
Read Ch 9
Problem Sets
J Depreciation SL/DDB
K Ratios Intangibles
Gain/Loss
DA Case 2
6
9
11/09
11/14
Reporting and Analyzing Stockholders’
Equity
11/15: Quiz #2 Ch.6, 9, 11
Read Ch 11
WileyPlus
L SEquity
M Dividends/Ratios
10
11/16
Microsoft Excel Workshop
Financial Analysis: The Big Picture
Review Quiz#2
Read Ch13
WileyPlus
N Ver/Hor Analysis
P Ratio Analysis
FSA Project – Spreadsheet
11
11/21
Exam 2
12
11/28
11/30
Financial Analysis: The Big Picture
Lab Session: FSA Project – Spreadsheet
Analysis
Statement of Cashflows
Read Ch 12 (optional)
WileyPlus
W CF Activities
X CF Ratios
13
12/05
12/07
12/12
FSA Project Presentation
Review for Final Exam
FSA Project due 12/07
12/17
to
12/20
Timed Take Home Final Exam
Final Exam due 11:59PM
12/20/23
Tentative schedule ... subject to change. Students will be notified in class of any changes to the Course Schedule.