In an educational context focused on student learning, class participation and feedback are key to improving students’ performance. Class participation grading methods are often unclear and subjective, therefore, providing feedback on class participation grades is challenging for lecturers. In this study, the Work-In-Class Assessment Tool (WICAT) designed by researchers is a multidimensional system that grades class participation by assessing students’ attendance, active listening, contribution to class activities, and performance in frequent small tasks. The WICAT allows lecturers to clearly and objectively grade class participation while providing students weekly feedback on their in-class performance. This study aims to analyze the effect of the WICAT and weekly feedback on students’ academic performance. The results from an experiment with 699 accounting students over the 2016 to 2019 period showed that students whose class participation grade was obtained through WICAT performed better on the final exam. Furthermore, the results showed that students assessed by WICAT were 2.28 times less likely to fail the final exam. However, the weekly feedback that WICAT allowed did not affect students’ performance. These results have important implications for curriculum designers and teaching staff on how to plan course syllabuses and where to focus in-class efforts.