Accounting Summary Report

 

Write a three- to four-page accounting summary report (not including the title page) that presents the financial reports for the Lemonade Stand Business. As part of your report include a journal, Income statement, and Balance Sheet.

Your paper must be formatted according to APA style guidelines as outlined in the Ashford Writing Center.

Focus of the Summary Project

The report should focus on the interpretation of the accounting information (see Week Two), financial analysis (see Week Four), or economic opportunities (see Week Six).  Each report should include an updated income statement and balance sheet (plus other financial statements as appropriate).  The financial statements should be prepared in Excel and copied and pasted either into the main text of the report or into an appendix.  Your financial reports should be in the same format as the sample reports.   

Run the game yourself.  You are required to use your own results from playing the game.  The game is accessed through item 3 under Summary Projects.

A working knowledge of Excel is essential to your success in this class.  If you do not have experience with Excel it is suggested that you begin working through Excel tutorials so that you are ready for the week 2 assignments. 

In week two, four and six, you will post your income statement, balance sheet, and financial ratios (week four and six only) in the discussion forum but not your full written report.  Also, this is a way for you to test your opinion about your numbers with your fellow students and to get ideas on what numbers may be worth commenting on.  You will find it useful in your report to compare your numbers to those of your classmates or the sample data provided.  Assets must always balance with liabilities plus equity.  The Lemonade stand will always have liabilities because they carry a balance with the store.

Lemonade Game

 

Description:

Total Possible Score: 10.00

Writes an Accounting Summary Report

Total: 7.00

Distinguished - Writes a comprehensive and accurate accounting summary report (including a journal, income statement, and balance sheet), presenting the financial reports for the Lemonade Stand Business.

Proficient - Writes an accounting summary report (including a journal, income statement, and balance sheet), presenting the financial reports for the Lemonade Stand Business. Minor details are missing or inaccurate.

Basic - Writes a limited accounting summary report (including a journal, income statement, and balance sheet), presenting the financial reports for the Lemonade Stand Business. Relevant details are missing and/or inaccurate.

Below Expectations - Attempts to write an accounting summary report (including a journal, income statement, and balance sheet), presenting the financial reports for the Lemonade Stand Business; however, significant details are missing and/or inaccurate.

Non-Performance - The accounting summary report is either nonexistent or lacks the components described in the assignment instructions.

Critical Thinking: Explanation of Issues

Total: 0.50

Distinguished - Clearly and comprehensively explains in detail the issue to be considered, delivering all relevant information necessary for a full understanding.

Proficient - Clearly explains in detail the issue to be considered, delivering enough relevant information for an adequate understanding.

Basic - Briefly recognizes the issue to be considered, delivering minimal information for a basic understanding.

Below Expectations - Briefly recognizes the issue to be considered, but may not deliver additional information necessary for a basic understanding.

Non-Performance - The assignment is either nonexistent or lacks the components described in the instructions.

Written Communication: Content Development

Total: 0.50

Distinguished - Uses appropriate, pertinent, and persuasive content to discover and develop sophisticated ideas within the context of the discipline, shaping the work as a whole.

Proficient - Uses appropriate and pertinent content to discover ideas within the context of the discipline, shaping the work as a whole.

Basic - Uses appropriate and pertinent content, but does not apply it toward discovering or developing ideas. Overall, content assists in shaping the written work.

Below Expectations - Uses content, though it may be unrelated or inappropriate to the topic. Content does not contribute toward the development of the written work, and may distract the reader from its purpose.

Non-Performance - The assignment is either nonexistent or lacks the components described in the instructions.

Written Communication: Context of and Purpose for Writing

Total: 0.50

Distinguished - Demonstrates methodical application of organization and presentation of content. The purpose of the writing is evident and easy to understand. Summaries, quotes, and/or paraphrases fit naturally into the sentences and paragraphs. Paper flows smoothly.

Proficient - Demonstrates sufficient application of organization and presentation of content. The purpose of the writing is, for the most part, clear and easy to understand. There are some problems with the blending of summaries, paraphrases, and quotes. Paper flows somewhat smoothly.

Basic - Demonstrates a limited understanding of organization and presentation of content in written work. The purpose of the writing is somewhat evident, but may not be integrated throughout the assignment. There are many problems with the blending of summaries, paraphrases, and quotes. Paper does not flow smoothly in all sections.

Below Expectations - Organization and presentation of content is extremely limited. The purpose of the writing is unclear. There is little or no blending of summaries, paraphrases, and quotes. Paper does not flow smoothly when read.

Non-Performance - The assignment is either nonexistent or lacks the components described in the instructions.

Written Communication: Control of Syntax and Mechanics

Total: 0.50

Distinguished - Displays meticulous comprehension and organization of syntax and mechanics, such as spelling and grammar. Written work contains no errors, and is very easy to understand.

Proficient - Displays comprehension and organization of syntax and mechanics, such as spelling and grammar. Written work contains only a few minor errors, and is mostly easy to understand.

Basic - Displays basic comprehension of syntax and mechanics, such as spelling and grammar. Written work contains a few errors, which may slightly distract the reader.

Below Expectations - Fails to display basic comprehension of syntax or mechanics, such as spelling and grammar. Written work contains major errors, which distract the reader.

Non-Performance - The assignment is either nonexistent or lacks the components described in the instructions.

Written Communication: APA Formatting

Total: 0.50

Distinguished - Accurately uses APA formatting consistently throughout the paper, title page, and reference page.

Proficient - Exhibits APA formatting throughout the paper. However, layout contains a few minor errors. 

Basic - Exhibits basic knowledge of APA formatting throughout the paper. However, layout does not meet all APA requirements.

Below Expectations - Fails to exhibit basic knowledge of APA formatting. There are frequent errors, making the layout difficult to distinguish as APA.

Non-Performance - The assignment is either nonexistent or lacks the components described in the instructions.

Written Communication: Page Requirement

Total: 0.50

Distinguished - The length of the paper is equivalent to the required number of correctly formatted pages. 

Proficient - The length of the paper is nearly equivalent to the required number of correctly formatted pages. 

Basic - The length of the paper is equivalent to at least three quarters of the required number of correctly formatted pages.

Below Expectations - The length of the paper is equivalent to at least one half of the required number of correctly formatted pages.   

Non-Performance - The assignment is either nonexistent or lacks the components described in the instructions.