GB518M1

GB518M1: Assess accounting information and systems in business environments.

All competency criteria must be met to earn a B grade and pass this Course Outcome. A predefined number of mastery criteria must be met to earn an A grade, indicating mastery of the Course Outcome. See the CLA and Grade Criteria Chart below. *If work submitted for this Competency Assessment does not meet the minimum submission requirements, it will be returned without being scored.

Assess accounting information and systems in business environments

MET NOT YET MET

Module 1 Lab Part 1

Competency

Explain the purpose and importance of accounting

Module 1 Lab Part 2

Competency

Analyze business transactions and the Accounting Cycle using source documents

Module 1 Lab Part 3

Competency

Prepare financial statements and explain the importance of periodic reporting

Module 1 Lab Part 4

Competency

Apply the accounting equation to explain accrual accounting and why it is useful in periodic reporting

Module 1 Lab Part 5

Competency

Explain the purpose and impact of adjustments

Module 1 Lab Part 6

Competency

Prepare financial statements using an adjusted trial balance

Module 1 Lab Part 7

Mastery

Interpret the accounting equation and each of its components

Module 1 Lab Part 8

Mastery

Analyze financial data using financial ratios

Module 1 Lab Part 9

Mastery

Compute profits using the accrual concept of accounting

Module 1 Lab Part 10

Mastery

Calculate profitability ratios

Module 1 Lab Part 11

Mastery

Complete the Accounting Cycle

Total Competency Criteria:

Total Mastery Criteria:

CLA and Grade Criteria Chart

CRITERIA CLA

Score Grade Points

Meets all 6 competency criteria and 3 to 5 of mastery criteria

5 A 1000

Meets all 6 competency criteria and 1 to 2 of mastery criteria

4 B 850

Meets 4 to 5 of competency criteria 3 Not Yet

Competent* 0

Meets 3 to 4 of competency criteria 2 Not Yet

Competent* 0

Meets 1 to 2 of competency criteria 1 Not Yet

Competent* 0

Meets 0 competency criteria 0 Not Yet

Competent* 0

No submission NA Not Yet

Competent* 0

*Not Yet Competent grades convert to an F at term end