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Homework answers / question archive / ACC 325 Final Project Guidelines and Rubric Overview The final project for this course is the hypothetical creation of a nonprofit organization
ACC 325 Final Project Guidelines and Rubric Overview The final project for this course is the hypothetical creation of a nonprofit organization. The final product represents an authentic demonstration of competency because it addresses all major considerations needed to establish and run a nonprofit organization. The project is divided into two milestones and a final project submission. The milestones will be submitted at various points throughout the course to scaffold learning and ensure quality final submissions. The milestones will be submitted in Modules Three and Five. The final product will be submitted in Module Seven. In this assignment, you will demonstrate your mastery of the following course outcomes: ? ACC-325-01: Prepare and present financial documents related to nonprofit organizations according to appropriate ethical considerations and legal requirements ? ACC-325-02: Evaluate and apply legal and tax requirements in the preparation of financial documents for nonprofit organizations ? ACC-325-03: Employ financial management best practices as a means of making informed business decisions Prompt Specifically, you must address the critical elements listed below. Most of the critical elements align with a particular course outcome (shown in brackets). I. Establishing Your Nonprofit A. Describe the nonprofit organization you envision starting. [ACC-325-03] ? Include the following in your description: o The name and mission of the nonprofit; include any other details you feel are important or interesting o The state your nonprofit is located in—preferably the state you are currently located in B. Discuss the corporate structure and corporate governance of your nonprofit. [ACC-325-01] ? Explain how your corporate structure meets nonprofit standards. o o What is the makeup of the board of directors? o What qualifications do they have? o What might cause conflicts of interest? o What is the makeup of your finance/audit committee? What is their role? C. Explain the legal requirements and process for becoming a nonprofit. [ACC-325-02] ? Consider both federal and state requirements needed to establish the nonprofit. o Research and report what agencies you will need to contact in order to establish your nonprofit. Cite your sources. o Research and report what forms are needed to establish your nonprofit. Cite your sources. 1 II. Reporting and Filing A. Create financial reports for your second year of operations. [ACC-325-02] ? Use the provided data in the Final Project Workbook to address the following: o Create a Statement of Financial Position. o Create a Statement of Activities. o Create a Statement of Cash Flows. B. Explain where you will have to submit your financial reports. [ACC-325-02] C. Discuss your annual filing requirements needed to keep the nonprofit status. [ACC-325-01] ? Identify federal legal filing requirements. ? Identify federal tax requirements. ? Identify state legal filing requirements. ? Identify state tax requirements. Use your identified state requirements and support your discussion with relevant resources. III. Summary and Reflection A. Create a budget (using the Budget tab in the Final Project Workbook) based on your second year of operations. [ACC-325-01] B. Summarize your budget and make suggestions for the future of your operations. [ACC-325-03] ? What would you do differently? ? What kind of changes would you make to your budget or operations? C. Summarize your financial analysis. [ACC-325-03] ? Complete your financial analysis in the Final Project Workbook using the Financial Analysis tab. Then review your key ratios and performance indicators. Identify three ratios that you want to use to inform any future changes. ? Based on your financial analysis of those three ratios, what changes would you need to implement? Milestones Milestone One: Establishing Your Nonprofit In Module Three, you will submit a paper discussing the type of nonprofit you would like to use for your final project. This milestone will be graded with the Milestone One Rubric. Milestone Two: Reporting and Filing In Module Five, you will submit a paper addressing the reporting and filing requirements for your identified nonprofit. In order to complete this assignment, you will be using the data provided. This milestone will be graded with the Milestone Two Rubric. 2 Final Project: Nonprofit Organization In Module Seven, you will address the Summary and Reflection section and combine it with the sections you previously completed for the milestones. In order to support this section, you will need to use Excel to create your budget and complete the financial analysis. You will then submit your final project with all feedback implemented from previous milestones. It should be a complete, polished artifact containing all of the critical elements of the final project. This submission will be graded with the Final Project Rubric. Final Project Rubric Guidelines for Submission: In addition to the Final Project Workbook for your budget and financial analysis, submit your nonprofit organization paper as a Word document that is 6 to 9 pages in length (plus a cover page and references) and uses double spacing, 12-point Times New Roman font, and one-inch margins. Include at least two academic references cited in APA format. Critical Elements Exemplary (100%) Proficient (85%) Needs Improvement (55%) Not Evident (0%) Value Establishing Your Nonprofit: Nonprofit Organization [ACC-325-03] Meets “Proficient” criteria and description is exceptionally clear and contextualized with additional details Describes the nonprofit organization, including mission statement and location Describes the nonprofit organization but lacks details or does not cover all required elements Does not describe the nonprofit organization 10 Establishing Your Nonprofit: Corporate Structure and Corporate Governance [ACC-325-01] Meets “Proficient” criteria and demonstrates a complex grasp of the corporate structure and corporate governance Discusses the corporate structure and corporate governance of the nonprofit Discusses the corporate structure and corporate governance of the nonprofit but lacks details or contains inaccuracies Does not discuss the corporate structure and corporate governance of the nonprofit 10 Establishing Your Nonprofit: Legal Requirements and Process [ACC-325-02] Meets “Proficient” criteria and shows in-depth knowledge of the requirements and process Explains the legal requirements and process for becoming a nonprofit, citing sources Explains the legal requirements and process for becoming a nonprofit but lacks details or contains inaccuracies Does not explain the legal requirements and process for becoming a nonprofit 10 Reporting and Filing: Financial Reports [ACC-325-02] Meets “Proficient” criteria and demonstrates an in-depth knowledge of financial reports Creates all financial reports for the second year of operations in Final Project Workbook Creates all financial reports for the second year of operations but reports contain inaccuracies Does not create all financial reports for the second year of operations 10 Reporting and Filing: Submit Your Financial Reports [ACC-325-02] Meets “Proficient” criteria and demonstrates a sophisticated awareness of where the reports need to be submitted Explains where you will have to submit your financial reports Explains where you will have to submit your financial reports but contains inaccuracies Does not explain where you will have to submit your financial reports 10 3 Critical Elements Exemplary (100%) Proficient (85%) Needs Improvement (55%) Not Evident (0%) Value Reporting and Filing: Annual Filing Requirements [ACC-325-01] Meets “Proficient” criteria and illustrates a sophisticated awareness of the requirements Discusses the annual filing requirements needed to keep a nonprofit status Discusses the annual filing requirements needed to keep a nonprofit status but lacks details or contains inaccuracies Does not discuss the annual filing requirements needed to keep a nonprofit status 10 Summary and Reflection: Second Year of Operations [ACC-325-01] Meets “Proficient” criteria and expertly uses the second year of operations to inform budget Creates a budget based on second year of operations Creates a budget based on second year of operations but lacks details or contains inaccuracies Does not create a budget based on second year of operations 10 Summary and Reflection: Future of Operations [ACC-325-03] Meets “Proficient” criteria and provides keen insight on the future of operations Summarizes the budget and make suggestions for the future of operations Summarizes the budget and make suggestions for the future of operations but lacks details or the budget contains inaccuracies Does not summarize the budget and make suggestions for the future of operations 10 Summary and Reflection: Financial Analysis [ACC-325-03] Meets “Proficient” criteria and comprehensively portrays the financial analysis Summarizes the financial analysis Summarizes the financial analysis but financial analysis contains inaccuracies Does not summarize the financial analysis 10 Articulation of Response Submission is free of errors related to citations, grammar, spelling, syntax, and organization and is presented in a professional and easy-to-read format Submission has no major errors related to citations, grammar, spelling, syntax, or organization Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas 10 Total 100%