Record Financial Data

1/23/22, 10:51 AM Milestone One Guidelines and Rubric - ACC-201-R3909 Financial Accounting 22EW3

https://learn.snhu.edu/d2l/le/content/957682/viewContent/16293697/View 1/2

Overview

In previous modules, you examined the ini�al stages of the accoun�ng cycle and prac�ced journalizing financial transac�ons. In Milestone One, you will complete the first part of your

course project to demonstrate your ability to accurately record financial data, which will con�nue to be used to complete other parts of the project.

Scenario

You are a cer�fied public accountant (CPA) who is working with a small bakery to prepare their financial statements for three months of the current fiscal year. Because the company is

a startup and so small, the accoun�ng is done manually in Microso� Excel. You have been given the accounts and informa�on you need to prepare their financial statements, but you

will need to use the accoun�ng cycle to report accurate informa�on to the finance department.

Prompt

Record Financial Data: Use accepted accoun�ng principles to accurately capture business transac�ons for October, November, and December in the Company Accoun�ng Workbook

Template Spreadsheet using the data provided in the Accoun�ng Data Appendix Word Document.

Specifically, you must address the following rubric criteria:

Accuracy: Prepare entries that are accurate in that they fully reflect the appropriate informa�on.

Completeness: Prepare entries that are complete for each month, including transferring posted entries to T accounts.

Inventory Valua�on: Prepare entries for the month of December to reflect the new line of products offered by the company, which includes using the entries from the

“Inventory Valua�on” tab to complete your journal for the month of December.

Guidelines for Submission

Using the provided template, submit your company accoun�ng workbook with the following por�ons completed: October, November, and December journal entries; the “T Accounts”

tab; and the “Inventory Valua�on” tab. This should be completed and submi�ed using Microso� Excel. Please note that there are drop-down menus embedded in the “Accounts”

columns as well as formulas throughout the spreadsheet to help you complete the workbook without accidentally introducing errors.

Milestone One Rubric

Criteria Exemplary (100%) Proficient (85%) Needs Improvement (55%) Not Evident (0%) Value

Accuracy Prepares accurate entries with

no errors

Prepares accurate entries with

minimal errors

Prepares entries that have

significant inaccuracies

Does not a�empt criterion 35

Completeness Prepares entries that are

complete for each month,

including transferring posted

entries to T accounts, with no

errors

Prepares entries that are

complete for each month,

including transferring posted

entries to T accounts, with

minimal errors

Prepares entries that are

complete for each month,

including transferring posted

entries to T accounts, with

significant errors

Does not a�empt criterion 35



1/23/22, 10:51 AM Milestone One Guidelines and Rubric - ACC-201-R3909 Financial Accounting 22EW3

https://learn.snhu.edu/d2l/le/content/957682/viewContent/16293697/View 2/2

Criteria Exemplary (100%) Proficient (85%) Needs Improvement (55%) Not Evident (0%) Value

Inventory Valua�on Prepares entries for the month

of December that reflect the

new line of products offered

by the company with no

errors

Prepares entries for the month

of December that reflect the

new line of products offered

by the company with minimal

errors

Prepares entries for the month

of December that reflect the

new line of products offered

by the company with

significant errors

Does not a�empt criterion 30

Total: 100%