ACC 308

ACC 308 Milestone One Guidelines and Rubric

Overview: For Milestone One, which is due in Module Three, you will create adjusting entries for various situations, prepare annual financial reports, calculate ratios, and develop a brief report for management explaining accounting ratios and the effects of interest rates on the future value of money. You will build on this milestone in subsequent modules leading up to the final project.

Prompt: First, review the Final Project Scenario document and the accompanying Final Project Workbook. Follow the instructions below and complete the workbook with the information provided in the scenario. Using your review of the scenario, develop a management analysis brief that addresses the critical elements indicated below. Use information from your accounting workbook to support your claims in the management analysis brief.

Note: Milestone One is a draft of some critical elements of the final project. Note that the management analysis brief corresponds to the m anagement analysis memo in the final project.

Specifically, the following critical elements must be addressed:

I. Accounting Workbook: Your accounting workbook must include appropriate calculations, ratios, and notes: A. Create adjusting entries for financial statement preparation. B. Create an adjusted trial balance for financial statement preparation. C. Prepare financial statements for determining the company’s financial position. D. Calculate ratios for determining the company’s financial health. Refer to the Final Project Scenario for the ratio formulas.

II. Management Analysis Brief: Your management analysis brief should explain financial information to management. Provide evidence from your accounting workbook to support your ideas when applicable.

A. Assess the company’s financial health based on ratio analyses presented in the accounting workbook. B. Compare ratio analysis to trends in financial ratios over time for illustrating their impact, providing examples to support your claims. C. Summarize the effects of different compounding periods and interest rates on future value of money. D. Explain how alignment to relevant regulations and ethical reporting influenced your accounting practices and notes, providing examples to

support your claims.

Rubric Guidelines for Submission: You will submit two files for this milestone. Your accounting workbook must be submitted as a Microsoft Excel document. Your management analysis brief should be a 1- to 2-page Microsoft Word document with double spacing, 12-point Times New Roman font, and one-inch margins.

Critical Elements Proficient (100%) Needs Improvement (75%) Not Evident (0%) Value

Accounting Workbook: Adjusting Entries

Creates adjusting entries for financial statements preparation

Creates adjusting entries, but entries are inaccurate

Does not create adjusting entries 12

Critical Elements Proficient (100%) Needs Improvement (75%) Not Evident (0%) Value

Accounting Workbook: Adjusted Trial Balance

Creates an adjusted trial balance for financial statement preparation

Creates an adjusted trial balance, but balances are inaccurate

Does not create an adjusted trial balance

12

Accounting Workbook: Financial Statements

Prepares financial statements for determining the company’s financial position

Prepares financial statements, but calculations are inaccurate

Does not prepare financial statements 12

Accounting Workbook: Ratios

Calculates ratios for determining the company’s financial health

Calculates ratios but calculations are inaccurate

Does not calculate ratios 12

Management Analysis Brief: Company’s Financial Health

Assesses the company’s financial health based on ratio analyses presented in the accounting workbook

Assesses the company’s financial health, but assessment is cursory or contains inaccuracies

Does not assess the company’s financial health

12

Management Analysis Brief: Ratio Analysis and Ratios

Over Time

Compares ratio analysis to trends in financial ratios over time for illustrating their impact, providing examples to support claims

Compares ratio analysis to trends over time for illustrating their impact, but examples are cursory, or response contains inaccuracies

Does not compare ratio analysis to trends in financial ratios over time

12

Management Analysis Brief: Compounding Periods and

Interest Rates

Summarizes the effects of different compounding periods and interest rates on future value of money

Summarizes the effects of different compounding periods and interest rates on future value of money, but summary is cursory or contains inaccuracies

Does not summarize the effects of different compounding periods and interest rates on future value of money

12

Management Analysis Brief: Regulations and Ethical

Reporting

Explains how alignment to relevant regulations and ethical reporting influenced accounting practices and notes, and provides examples to support claims

Explains how alignment to relevant regulations and ethical reporting influenced accounting practices and notes, but explanation or examples are cursory or illogical

Does not explain how alignment to relevant regulations and ethical reporting influenced accounting practices and notes

12

Articulation of Response 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

4

Total 100%