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Homework answers / question archive / ACC 309 Final Project Guidelines and Rubric Overview In the accounting field, you will often be expected to both enter calculations accurately and articulate what this information means to internal and external stakeholders
ACC 309 Final Project Guidelines and Rubric
Overview
In the accounting field, you will often be expected to both enter calculations accurately and articulate what this information means to internal and external stakeholders. In addition, you will be expected to propose financial solutions when a company is faced with a policy change, or when the company’s regulations change. For this project, imagine that you have just started in a new role as a financial accountant preparing for a year-end audit. In addition, you are charged with showing the financial impacts of the company’s recent initiatives. You will revise year-end financial statements to reflect these changes, compose notes to the financial statements, and compose an executive summary to explain the impacts to stakeholders. You will create these documents based on information in the Final Project Scenario and Final Project Workbook.
In this assignment, you will demonstrate your mastery of the following course competencies:
Specifically, the following critical elements must be addressed. Most of the critical elements align with a particular course competency (shown in brackets).
In Module Three, you will develop a portion of the workbook and a brief memo to management explaining the impacts to stockholder equity and the impact of tax structures. This milestone will be graded with the Milestone One Rubric.
In Module Five, you will develop a portion of the workbook and a brief memo to management explaining the impacts of accounting for postretirement benefits and revision processes. This milestone will be graded with the Milestone Two Rubric.
Final Project Submission: Workbook, Notes to the Financial Statements, and Executive Summary
In Module Seven, you will submit your final project. It should be a complete, polished artifact containing all of the critical elements of the final product. It should reflect the incorporation of feedback gained throughout the course. This submission will be graded with the Final Project Rubric.
In addition to revising your milestone work, make sure that you include the following elements from the prompt above, which were not included in the milestones:
Guidelines for Submission: Your workbook must be submitted as a MS Excel Document, and your Executive Summary must be 2-3 pages in length and must be written in APA format. Use double spacing, 12-point Times New Roman font, and one-inch margins.
|
Critical Elements |
Exemplary |
Proficient |
Needs Improvement |
Not Evident |
Value |
|
Workbook: Capital Lease Obligations [ACC-309-02] |
|
Calculate capital lease obligations for determining debt and depreciation (100%) |
Calculates capital lease obligations, but calculations are inaccurate or incomplete (55%) |
Does not identify sources of other comprehensive income not included in net income (0%) |
3.12 |
|
Workbook: Pension Payouts [ACC-309-01] |
|
Calculates pension payouts for determining the company’s financial obligations (100%) |
Calculates pension payouts, but calculations are inaccurate or incomplete (55%) |
Does not calculate pension payouts (0%) |
5.28 |
|
Workbook: Adjusting Entries [ACC-309-01] |
|
Prepare appropriate adjusting entries (100%) |
Prepares appropriate adjusting entries, but calculations are inaccurate or incomplete (55%) |
Does prepare adjusting entries (0%) |
5.28 |
|
Workbook: Adjusted Trial Balance [ACC-309-01] |
|
Completes the Adjusted Trial Balance (100%) |
Completes the Adjusted Trial Balance, but calculations are inaccurate or incomplete (55%) |
Does not complete adjusted trial balance (0%) |
5.28 |
|
Workbook: Revised Financial Statements [ACC-309-01] |
|
Prepares revised financial statements for year-end audit that flow logically within the document. (100%) |
Prepares revised financial statements for year-end audit, but the statements do not flow logically within the document, or revisions contain inaccuracies (55%) |
Does not prepare revised financial statements for yearend audit (0%) |
5.28 |
|
Workbook: Statement of Comprehensive Income [ACC-309-01] |
|
Prepares a statement of comprehensive income to ensure alignment with applicable rules and regulations (100%) |
Prepares a statement of comprehensive income, but statement does not align with applicable rules and regulations, contains inaccuracies or is missing key elements (55%) |
Does not prepare a statement of comprehensive income (0%) |
5.28 |
|
Workbook: Earnings per Share [ACC-309-02] |
|
Determines the impact on earnings per share (100%) |
Determines the impact on earnings per share, but calculations are inaccurate or incomplete (55%) |
Does not determine the impact on earnings per share (0%) |
3.12 |
|
Notes to Financial Statements: Footnotes [ACC-309-03] |
Meets proficient criteria and footnotes included demonstrate a keen grasp of applicable accounting standards (100%) |
Composes appropriate footnotes within a statement of comprehensive income in accordance with applicable accounting standards, such as GAAP, International Financial Reporting Standards, and SEC, as applicable (85%) |
Composes appropriate footnotes within a statement of comprehensive income in accordance with applicable accounting standards, such as GAAP, International Financial Reporting Standards, and SEC, as applicable, but footnotes lack detail, are illogical or are missing key elements (55%) |
Does not compose appropriate footnotes within a statement of comprehensive income (0%) |
10.56 |
|
Executive Summary: Comprehensive Income [ACC-309-01] |
Meets proficient criteria, and explanation demonstrates a sophisticated awareness of topic (100%) |
Explains rationale for inclusion as comprehensive income or other comprehensive income (as opposed to net income) of nondisclosure within notes (85%) |
Explains rationale for inclusion as comprehensive income (as opposed to net income) of nondisclosure within notes, but notes are inaccurate or missing key elements (55%) |
Does not explain rationale for inclusion as comprehensive income (0%) |
5.28 |
|
Executive Summary: Stockholder Equity [ACC-309-02] |
Meets proficient criteria, and financial information used to support claims demonstrates a complex grasp of implications on stockholder equity and retained earnings per share (100%) |
Describes impacts of company goals and finances for their implications on stockholder equity, including retained earnings per share, using financial information to support claims (85%) |
Describes impacts of company goals and finances for their implications on stockholder equity, but explanation or information used to support claims is illogical or contains inaccuracies (55%) |
Does not evaluate impacts of company goals and finances for their implications on stockholder equity (0%) |
3.12 |
|
Executive Summary: Preferred Stock or Debt [ACC-309-02] |
Meets proficient criteria and explanation demonstrates a sophisticated awareness of the impact of issuing preferred stock or debt for determining changes to equity structures (100%) |
Explains the impact of issuing preferred stock or debt for determining changes to equity structures (85%) |
Explains the impact of issuing preferred stock or debt for determining changes to equity structures, but explanation is cursory or illogical (55%) |
Does not explain the impact of issuing preferred stock or debt (0%) |
3.12 |
|
Executive Summary: Current Tax Structure [ACC-309-02] |
Meets proficient criteria and assessment of relevant changes demonstrates a sophisticated awareness of taxation impacts (100%) |
Assesses the impact of changes to current tax structure for articulating changes relevant to the company (85%) |
Assesses the impact of changes to current tax structure for articulating changes relevant to the company, but assessment is cursory or illogical (55%) |
Does not assess the impact of changes to current tax structure (0%) |
3.12 |
|
Executive Summary: Capital Lease [ACC-309-02] |
Meets proficient criteria and explanation demonstrates a sophisticated awareness of the implications of capital lease (100%) |
Explains the implications of capital lease based on how it relates to the company’s equipment usage (85%) |
Explains the implications of capital lease based on how it relates to the company’s equipment usage, but explanation is cursory or illogical (55%) |
Does not explain the implications of capital lease (0%) |
3.12 |
|
Executive Summary: Post-retirement Plans [ACC-309-02] |
Meets proficient criteria and examples used to support ideas demonstrate a nuanced understanding of how post retirement plans will impact the company financially (100%) |
Explains how post-retirement plans will impact the company financially short and long-term, using examples from the balance sheet to support claims (85%) |
Explains how post retirement plans will impact the company financially, but examples provided are cursory or illogical (55%) |
Does not explain how postretirement plans will impact the company (0%) |
3.12 |
|
Executive Summary: Current Performance [ACC-309-02] |
Meets proficient criteria and evaluation and supporting information demonstrates a nuanced understanding of topics (100%) |
Evaluates the company’s current performance based on the outcomes of relevant ratio analysis (85%) |
Evaluates the company’s current performance, but use of relevant ratio analysis to support evaluation is cursory, illogical or inaccurate (55%) |
Does not evaluate the company’s current performance (0%) |
3.12 |
|
Executive Summary: Retrospective and Prospective Approaches [ACC-309-02] |
Meets proficient criteria and discussion of changes encountered and retrospective and prospective approaches demonstrates a nuanced understanding of accounting approaches (100%) |
Discusses types of accounting changes encountered for informing when retrospective and prospective approaches should be used (85%) |
Discusses types of accounting changes encountered, but explanation of when retrospective and prospective approaches should be used is cursory, illogical or contains inaccuracies (55%) |
Does not discuss types of accounting changes encountered (0%) |
3.12 |
|
Executive Summary: New Credit Policies [ACC-309-02] |
Meets proficient criteria and relevant ratio analysis used demonstrates a sophisticated awareness of impacts on credit policies, and change in product or markets (100%) |
Predicts the impact of new credit policies, change in product or markets based on relevant ratio analysis (85%) |
Predicts the impact of new credit policies, change in product or markets, but relevant ratio analysis used is illogical or contains inaccuracies (55%) |
Does not predict the impact of new credit policies or change in products or markets (0%) |
3.12 |
|
Executive Summary: Accounting Standards [ACC-309-03] |
Meets proficient criteria and Discussion of relevant accounting standards demonstrates sophisticated awareness of how accounting standards apply to financial reporting (100%) |
Discusses relevant accounting standards for informing the company’s financial reporting strategies (85%) |
Discusses relevant accounting standards for informing the company’s financial reporting strategies, but application is cursory illogical or contains inaccuracies (55%) |
Does not discuss relevant accounting standards (0%) |
10.56 |
|
Executive Summary: Four-Step Process [ACC-309-03] |
Meets proficient criteria and explanation of how the four step process was used demonstrates a nuanced understanding of the process (100%) |
Explains how the four step process was used for effectively correcting and reporting errors in the revision process (85%) |
Explains how the four-step process was used for correcting and reporting errors, but explanation is cursory, illogical or contains inaccuracies (55%) |
Does not explain how the four step process was used to correct and report errors (0%) |
10.56 |
|
Articulation of Response |
Submission has no major errors related to, grammar, spelling, syntax, or organization (100%) |
Submission has few minor errors related to organization, grammar and style (85%) |
Submission has several errors related to, grammar, spelling, syntax, or organization (55%) |
Submission has major errors related to, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas (0%) |
5.44 |
|
Total |
100% |
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