ACC 201 SNHU Module 2 The Accounting Cycle Short Essay In this short paper, you will evaluate the importance of the accounting cycle by illustrating the pr

ACC 201 SNHU Module 2 The Accounting Cycle Short Essay In this short paper, you will evaluate the importance of the accounting cycle by illustrating the products of that cycle and identifying the potential for problems if it is not properly followed. Use the Module Two Short Paper Template as you work on this short paper. Running head: ACC 201 MODULE TWO SHORT PAPER
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(This entire first page can be deleted after you review the guidelines. Your paper should
begin with the title page that follows.)
Review the Module Two Short Paper Guidelines and Rubric document to see how your
paper will be scored.
Be sure to follow APA format when providing references. If you have questions on APA
formatting, you can check the Purdue OWL website or seek help from the SNHU Writing Lab.
Notes on APA in a Formal Assignment
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Use one-inch margins on all sides.
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Use 12-point Times New Roman font with double spacing.
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Paragraphs should be at least three to four sentences in length.
•
Delete the headings for “Introduction” and “Conclusion” in the template. These headings
are included below to help you lay out your paper. APA format assumes that the
introduction begins the paper, the body continues the paper, and the conclusion wraps up
the paper, so those headings are not needed.
•
Indent the first line of every paragraph by 0.5”.
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Be careful not to use personal pronouns such as “I.”
•
Make sure to delete headings such as Paragraph One, Paragraph Two, and so on.
•
Be sure to replace all of the guidelines text in brackets with your own writing.
ACC 201 Module Two Short Paper
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ACC 201 Module Two Short Paper: The Accounting Cycle
[Your Name]
Southern New Hampshire University
ACC 201 Module Two Short Paper
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Introduction (delete this heading in your final paper)
[In your opening paragraph, very briefly introduce the purpose of your paper. Recall that
you will be discussing the accounting cycle in keeping with the key terms of steps, outputs, and
importance, as explained in your rubric instructions. Three or four sentences will be sufficient.]
Paragraph One (delete this heading in your final paper)
[Using your textbook and other provided course resources, identify the steps of the
accounting cycle. Provide a description of each step in your own words, using specific
examples.]
Paragraph Two (delete this heading in your final paper)
[Identify and describe the major products of the accounting cycle. Why are they
important? Explain the purpose of each financial statement, including how they are interrelated.
A minimum of five to six sentences is required to support your thoughts. Be specific in your
answer and use examples to support your thoughts.]
Paragraph Three (delete this heading in your final paper)
[Defend the importance of the accounting cycle to a business. Specifically, Discuss why
specific steps are necessary. Include in your discussion at least three different steps. A minimum
of five to six sentences is required to support your thoughts. Focus your thoughts on the role of
each step, as discussed in the second paragraph, and what each step contributes to the overall
accounting process.]
Conclusion (delete this heading in your final paper)
[The conclusion reminds the reader what your paper is about and allows you to make a
final point without introducing new information. Three or four sentences will be sufficient.]
ACC 201 Module Two Short Paper
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Reference
Warren, C.S., Reeve, J. M., & Duchac, J. (2017). Corporate financial accounting (14th ed.).
Boston, MA: Cengage Learning.
[Make sure that you provide appropriate in-text citations in APA style, with the author’s
name and year of publication (author last name, year). The textbook citation above is provided as
an example of a References page citation, and it should be kept in the references section your
paper. Feel free to add other resources. To add credibility to your paper, remember to cite ALL
of the sources within the body of the paper, as well as in the References page at the end.
References should be in alphabetical order by the author’s last name.]
ACC 201 Module Two Short Paper Guidelines and Rubric
Overview: In this short paper, you will evaluate the importance of the accounting cycle by illustrating the products of that cycle and identifying the potential for
problems if it is not properly followed. There is only one short paper assignment in this course, and it has a unique purpose: You can think of this exercise as
establishing the conceptual framework for your remaining work in the problem sets and Final Project I. Essentially, in those activities, you will be engaging in the
specific tasks of the accounting cycle and applying detailed processes on a practical level. Therefore, it is important to grasp the larger picture in this short paper
so that you will be able to connect these smaller tasks and details and recognize their larger significance.
Prompt: In a well-crafted short paper, respond to the following questions:



What are the steps of the accounting cycle? Describe each in your own words using specific examples.
What are the outputs of the accounting cycle? Why are they important? Identify and explain the purpose of each financial statement, including how
they are interrelated.
Why is the accounting cycle important to a business? Evaluate the significance of the accounting cycle in terms of its practical relevance for businesses.
In your response, be sure to give specific examples of why certain steps are necessary. Address at least three different steps in your evaluation.
Rubric
Guidelines for Submission: Your paper should follow the formatting guidelines in the Module Two Short Paper Template. It should be a 2- to 3-page Microsoft
Word document with double spacing, 12-point Times New Roman font, one-inch margins, and references to the textbook content cited in APA format.
Critical Elements
Steps
Exemplary (100%)
Proficient (85%)
Needs Improvement (55%)
Not Evident (0%)
Value
Meets “Proficient” criteria and
demonstrates keen insight into
the sequence and
interrelationships between the
steps of the accounting cycle
Describes each of the steps of
the accounting cycle in own
words using specific examples
Describes the steps of the
Does not describe the steps of
accounting cycle, but fails to fully the accounting cycle
or accurately identify each using
own words and specific
illustrating examples
30
Outputs
Meets “Proficient” criteria and
demonstrates nuanced
understanding of the products of
the accounting cycle
Identifies and explains the
purpose of each financial
statement created by the
accounting cycle, including their
interrelationships
Identifies the purpose of each
Does not identify the purpose of
financial statement created by
each of the financial statements
the accounting cycle, but fails to created by the accounting cycle
fully or accurately explain each,
including their interrelationships
30
Significance
“Meets Proficient” criteria and
demonstrates deep
appreciations of the significance
of the accounting cycle
Evaluates the significance of the
accounting cycle for businesses,
including at least three specific
examples of why certain steps
are necessary
Evaluates the significance of the Does not evaluate the
accounting cycle for businesses, significance of the accounting
but fails to fully or accurately cite cycle for businesses
specific examples of why certain
steps are necessary
30
Articulation of
Response
Submission is free of errors
Submission has no major errors
related to citations, grammar,
related to citations, grammar,
spelling, syntax, and organization spelling, syntax, or organization
and is presented in a
professional and easy-to-read
format
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
Total
10
100%

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