Assesment 1: Accounting tools and practices

OVERALL COMMENTS

Hello,

Look at the Resources - that is, the required readings in the textbook. Also, look at Video for Assessment One - it is in the Announcements, all the way at the end - the first Announcement.

In general, I recommend avoiding other sources until you have read the required textbook. Your reference may have lead in what I would say is an usual direction.

Best wishes for success,

RUBRICS

CRITERIA 1

Explain how the accounting method the company used affects the financial statements.COMPETENCY

Explain how accounting concepts and practices impact financial reporting.

NON_PERFORMANCEDoes not explain the accounting method used.BASICIdentifies the accounting method used.PROFICIENTExplains how the accounting method the company used affects the financial statements.DISTINGUISHEDExplains the accounting method’s effect on specific financial statements clearly and with sufficient detail to demonstrate why the company chose it.

COMMENTS:

Please see the overall comments.

CRITERIA 2

Compare how two accounting methods differ in their effects on the financial statements.COMPETENCY

Explain how accounting concepts and practices impact financial reporting.

NON_PERFORMANCEDoes not identify any alternate accounting methods.BASICIdentifies one other accounting method.PROFICIENTCompares how two accounting methods differ in their effects on the financial statements.DISTINGUISHEDCompares how two accounting methods differ in their effects on the financial statements and provides examples and details to clarify comparisons.

COMMENTS:

Please see the overall comments.

CRITERIA 3

Communicate accounting information clearly.COMPETENCY

Communicate financial information with multiple stakeholders.

NON_PERFORMANCEDoes not communicate accounting information effectively.BASICCommunicates accounting information, but some information is not clear.PROFICIENTCommunicates accounting information clearly.DISTINGUISHEDCommunicates clearly and engages the reader with the fluidity of expression. There are few if any errors of mechanics, grammar, or style.

COMMENTS:

Please see the overall comments.