discussion week 2
vivinana8591The U.S. GAAP standards in this image (and found in your book on page 80) were developed and codified by the Financial Accounting Standards Board (FASB) and accepted by the AICPA (American Institute of Certified Public Accountants). You have probably heard of the AMA (American Medical Association) for physicians. It is a professional organization that promotes and educates physicians. The professional organizations that developed GAAP (Generally Accepted Accounting Principles) are similar to the AMA in that they provide a similar role for accountants providing guidance for how GAAP accounting standards must be applied.
Case Study 5-1 on pages 80-81 demonstrates the way professional accountants must use professional judgement when reporting results. Medicine is art and science. "Accounting is more art than science". (Harrison and Harrison, 2013, p.80)
Read the case and discuss the following:
Which of the approaches in the case most accurately reflects the financial operations of the company for their first year of operation?
What are the two different accounting treatments offered? Do you find both acceptable, and why or why not?
Participation Requirements: The minimum number of posts this week is 3 substantive posts (total) for the week on3 different days. Initial post is due by Wednesday. Please refer to the grading rubric for discussions in your gradebook. Remember that APA format is required.
Shauna Lewis
Name: Discussion Board Rubric - Points Rang
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| Poor | Satisfactory | Good | |
|---|---|---|---|
| Initial Post - Substantive post | Points: Points Range: 0 (0%) - 9.9 (9.9%) [removed] [removed]Student did not submit an appropriate and substantive post to the original assignment of at least 100 words. Could include not addressing all of the original questions/issues in a grammatically correct and logical manner Feedback: | Points: Points Range: 10 (10%) - 19.9 (19.9%) [removed] [removed]Student submitted an appropriate post to the original assignment but it is either not substantive or is not at least 100 words. Could include not addressing all of the original questions/issues in a grammatically correct and logical manner. Feedback: | Points: Points Range: 20 (20%) - 30 (30%) [removed] [removed]Student submitted an appropriate and substantive post to the original assignment of at least 100 words. This includes addressing all of the original questions/issues in a grammatically correct and logical manner Feedback: |
| Initial Post - Submitted on time | Points: Points Range: 0 (0%) - 4.9 (4.9%) [removed] [removed]Assignment not submitted on time by Wednesday and not submitted on a different day than other posts Feedback: | Points: Points Range: 5 (5%) - 7.9 (7.9%) [removed] [removed]Assignment either not submitted on time by Wednesday or not on a different day than other posts Feedback: | Points: Points Range: 8 (8%) - 10 (10%) [removed] [removed]Assignment submitted on time by Wednesday and on a different day than other posts Feedback: |
| Initial Post - Appropriate source used | Points: Points Range: 0 (0%) - 4.9 (4.9%) [removed] [removed]Appropriate sources were not used Feedback: | Points: Points Range: 5 (5%) - 7.9 (7.9%) [removed] [removed]Outside sources used but not an appropriate article from the library Feedback: | Points: Points Range: 8 (8%) - 10 (10%) [removed] [removed]An appropriate accounting article from the library was used Feedback: |
| Initial Post - APA Citation | Points: Points Range: 0 (0%) - 4.9 (4.9%) [removed] [removed]References are not cited in APA format and less than 50% of the post is original work of the student not taken from outside sources Feedback: | Points: Points Range: 5 (5%) - 7.9 (7.9%) [removed] [removed]References are partially cited in APA format and most of the post is original work of the student not taken from outside sources Feedback: | Points: Points Range: 8 (8%) - 10 (10%) [removed] [removed]References correctly cited in APA format and 80% of the post is original work of the student not taken from outside sources Feedback: |
| Post 2 - Substantive post | Points: Points Range: 0 (0%) - 4.9 (4.9%) [removed] [removed]Student did not submit an appropriate response to another student Feedback: | Points: Points Range: 5 (5%) - 7.9 (7.9%) [removed] [removed]Student submitted an appropriate response to another student but it is either not a substantive response or is lacking in grammar and logic Feedback: | Points: Points Range: 8 (8%) - 10 (10%) [removed] [removed]Student submitted an appropriate and substantive response to another student’s post in a grammatically correct and logical manner Feedback: |
| Post 2 - Submitted on time/different day | Points: Points Range: 0 (0%) - 1.9 (1.9%) [removed] [removed]Assignment not submitted on time and not submitted on a different day than other posts Feedback: | Points: Points Range: 2 (2%) - 2.9 (2.9%) [removed] [removed]Assignment submitted on time but on the same day as other posts Feedback: | Points: Points Range: 3 (3%) - 5 (5%) [removed] [removed]Assignment submitted on time and on a different day than other posts (suggested no later than Friday) Feedback: |
| Post 2 - Length | Points: Points Range: 0 (0%) - 1.9 (1.9%) [removed] [removed]Assignment less than 2 complete sentences. Feedback: | Points: Points Range: 2 (2%) - 2.9 (2.9%) [removed] [removed]Assignment only 2-3 complete sentences. Feedback: | Points: Points Range: 3 (3%) - 5 (5%) [removed] [removed]Assignment met minimum of 3-4 complete sentences. Feedback: |
| Post 3 - Substantive post | Points: Points Range: 0 (0%) - 4.9 (4.9%) [removed] [removed]Student did not submit an appropriate response to another student Feedback: | Points: Points Range: 5 (5%) - 7.9 (7.9%) [removed] [removed]Student submitted an appropriate response to another student but it is either not a substantive response or is lacking in grammar and logic Feedback: | Points: Points Range: 8 (8%) - 10 (10%) [removed] [removed]Student submitted an appropriate and substantive response to another student’s post in a grammatically correct and logical manner Feedback: |
| Post 3 - Submitted on time/different day | Points: Points Range: 0 (0%) - 1.9 (1.9%) [removed] [removed]Assignment not submitted on time and not submitted on a different day than other posts Feedback: | Points: Points Range: 2 (2%) - 2.9 (2.9%) [removed] [removed]Assignment submitted on time but on the same day as other posts Feedback: | Points: Points Range: 3 (3%) - 5 (5%) [removed] [removed]Assignment submitted on time and on a different day than other posts (suggested no later than Saturday) Feedback: |
| Post 3 - Length | Points: Points Range: 0 (0%) - 1.9 (1.9%) [removed] [removed]Assignment less than 2 complete sentences. Feedback: | Points: Points Range: 2 (2%) - 2.9 (2.9%) [removed] [removed]Assignment only 2-3 complete sentences. Feedback: | Points: Points Range: 3 (3%) - 5 (5%) [removed] [removed]Assignment met minimum of 3-4 complete sentences. |
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