ACC 610 Southern New Hampshire Accounting Portfolio Final Project 9-1 Final Project Submission Assignment Your final course project consists of seven cr

ACC 610 Southern New Hampshire Accounting Portfolio Final Project 9-1 Final Project Submission
Assignment

Your
final course project consists of seven critical elements. They follow a
logical flow for financial reporting. In this module, place all
elements into their correct sequence. Include the elements from
Milestones One, Two, and Three, revised based on your instructor’s
feedback. Then, add the remaining elements.For additional details, please refer to the Final Project Guidelines and Rubric document attached. ACC 610 Final Project Guidelines and Rubric
Overview
The final project for this course is the creation of an accounting portfolio. The project is divided into three milestones, which will be submitted at various points
throughout the course to scaffold learning and ensure quality final submissions. These milestones will be submitted in Modules Three, Five, and Seven. The final
product will be submitted in Module Nine.
According to the AICPA (American Institute of Certified Public Accountants), a CPA in today’s environment must not only have a high level of technical
competence and a sense of commitment to service, but must also have good communications and analytical skills and the ability to work well with people.
Employers are looking for individuals who have the ability to analyze and evaluate complex business problems combined with the interpersonal skills and
maturity to make decisions in a client and customer service environment.
By adopting a real-life company in this course, you will apply the technical competence and other skills required by today’s CPA. Through case study analysis, you
will develop skills such as communication, presentation, and interpersonal relations, in conjunction with technical accounting knowledge.
In ACC 610, Financial Reporting I, your focus will be on developing skills in critical thinking and applying accounting theories and practices in accordance with
Generally Accepted Accounting Principles (GAAP). You will analyze situations in your case studies and communicate results to decision makers with an emphasis
on assets and liabilities, measurement, and reporting.
In this assignment, you will demonstrate your mastery of the following course outcomes:





Analyze the conceptual framework, standards, standard setting, and presentation of financial statements for ensuring compliance with Generally
Accepted Accounting Principles
Differentiate between the Generally Accepted Accounting Principles and the International Financial Reporting Standards for their impact on financial
statements
Analyze results of consolidated financial statements for informing internal and external users of financial statements
Analyze financial statement accounts using assertions related to the recognition, measurement, valuation, calculation, presentation, and disclosure of
financial information for their accuracy and reliability
Determine appropriate accounting treatments of business transactions, including adjusting entries, for their impact on the results of financial statements
Prompt
This course, ACC 610, is the first course in a Financial Reporting Series that includes ACC 610 and ACC 620. Throughout this series, you will apply the concepts
you are learning using the financial data and business scenarios of a prominent retail company to develop a portfolio. You may choose from Walmart, Kroger,
Amazon, Costco, The Home Depot, CVS Health Corporation and Target . It is recommended you use the same company for both courses in the series.
The portfolio deliverables for this course include a financial analysis paper, spreadsheets to address the questions posed in the paper, memorandums illustrating
company communication, and a financial report.
Specifically, the following critical elements must be addressed:
I.
Conceptual Framework: For this part of the assessment, you will prepare a financial analysis paper addressing various topics about your chosen
company, supporting your answers and claims with quantitative data where applicable. You will need to research your chosen company and obtain its
latest audited financial statements (information that is available to the public online) in order to answer the following:
A. Explain how the conceptual framework and accounting standards apply to your company.
B. Analyze the information within the disclosure statements for information that would interest the creditors of your company. What information
would be important for someone in this role? Why is this information important to them?
C. Analyze the information within the disclosure statements for information that would interest the investors of your company. What information
would be important for someone in this role? Why is this information important to them?
II.
Analysis of Financial Statements: For this part of the assessment, you will continue your financial analysis paper. You will need to research your chosen
company and obtain the last few years (at least two) of financial statements (information that is available to the public online) in order to answer the
following questions:
A. Based on the information you have gathered, explain the changes in financial ratios. Has anything changed in the few years of financial statements
that you have obtained? What are the reasons for these changes?
B. Based on the information you have gathered, analyze the changes in the financial reports regarding cash. Be sure to examine the statement of cash
flows. What are the reasons for these changes?
C. Based on the information you have gathered, analyze the changes in the financial reports regarding the accounts receivable account balance. What
are the reasons for these changes?
D. Describe the type of inventory valuation method that your company uses and explain why it uses this method. What are the benefits of this
method?
E. Based on industry trends, future plans of your company, and the information you have gathered, predict how your company will perform in the
following year compared to competitors.
III.
GAAP vs. IFRS: For this part of the assessment, you will continue your financial analysis paper.
A. Explain the steps that would be needed for your company to transition from GAAP to IFRS. For example, what would this transition
entail? What would your chosen company need to do?
B. Explain how a financial statement would differ under IFRS as opposed to GAAP.
1. How is a financial statement under IFRS different from GAAP? How is it the same?
2. What would the statements for your chosen company look like?
IV.
Adjusting Entries: For this part of the assessment, you will continue your financial analysis paper.
A. Explain the type of depreciation method your company uses and why it uses this method.
B. Identify an example of an adjusting entry (other than depreciation) such as prepaid expenses, supplies, or unearned revenue and whether or not
your company has this account listed on the balance sheet. You could consider why this might not be listed.
V.
Financial Analysis: For this part of the assessment, you will prepare spreadsheets and analysis to be included in your financial analysis paper.
A. Prepare an Excel spreadsheet to compare financial ratios for your company to the industry averages.
B. Compose a summation as to how your company is performing in relation to its competitors. Be sure to base your answer on the spreadsheet you
previously prepared.
VI.
Communication: For this part of the assessment, you will prepare memorandums to upper management addressing certain scenarios or situations.
A. As the controller of your chosen company, compose a memo to the CEO addressing the advantages and disadvantages of transitioning from GAAP to
IFRS.
B. As the controller of your chosen company, compose a memo to the CEO addressing the following scenario: Your largest customer has just gone
bankrupt, and you must inform the CEO how this will affect your accounts receivable. Assume that the accounts receivable balance is at least
$100,000.
VII.
Financial Report: For this part of the assessment, you will prepare a financial report in response to a hypothetical scenario: A major global disaster (in
this case an oil spill) has caused environmental damage and has affected global transportation as well. As the controller of your chosen company, you
are tasked with providing a financial report to the board of directors addressing how this event will affect your company.
A. Analyze the effects of the global disaster on the financial statements of your chosen company using the financial information from your company.
B. Recommend strategies to address the effects of the disaster on your chosen company based on your analysis.
Milestones
Milestone One: GAAP vs. IFRS
In Module Three, you will submit Critical Element III: GAAP vs. IFRS. You will explain the steps needed for your selected company to transition from GAAP to IFRS
and how a financial statement would differ under IFRS as opposed to GAAP. This milestone will be graded with the Milestone One Rubric.
Milestone Two: Analysis of Financial Statements
In Module Five, you will submit Critical Element II: Analysis of Financial Statements. You will need to research your chosen company and obtain the last few years
(at least two) of financial statements (information that is available to the public online). You will analyze and explain the changes in financial ratios, financial
reports regarding cash, and financial reports regarding account balance. You will describe and explain the type of valuation method your company uses as well as
your predictions for how the company will perform in the following year compared to competitors. This milestone will be graded with the Milestone Two
Rubric.
Milestone Three: Adjusting Entries and Communication
In Module Seven, you will submit Critical Element Critical Element IV: Adjusting Entries and Critical Element VI: Communication. You will explain the type of
depreciation method your company uses and identify as example of an adjusting entry. You will also compose a memo to the CEO addressing the advantages and
disadvantages of transitioning from GAAP to IFRS, as well as a memo addressing how your company will be affected by your biggest customer going bankrupt.
This milestone will be graded with the Milestone Three Rubric.
Final Submission: Accounting Portfolio
In Module Nine, you will submit your accounting portfolio. It should be a complete, polished artifact containing all of the critical elements of the final product. It
should reflect the incorporation of feedback gained throughout the course. This submission will be graded with the Final Project Rubric.
Deliverables
Milestone
Deliverable
Module Due
Grading
1
GAAP vs. IFRS
3
Graded separately; Milestone One Rubric
2
Analysis of Financial Statements
5
Graded separately; Milestone Two Rubric
3
Adjusting Entries and Communication
7
Graded separately; Milestone Three Rubric
Final Submission: Accounting Portfolio
9
Graded separately; Final Project Rubric
Final Project Rubric
Guidelines for Submission: Your accounting portfolio (financial analysis paper, spreadsheets, memos, and financial report) must be 6 to 10 pages in length (plus a
cover page and references) and must be written in APA format. Use double spacing, 12-point Times New Roman font, and one-inch margins. Include at least two
references cited in APA format.
Critical Elements
Conceptual
Framework:
Conceptual
Framework and
Accounting Standards
[ACC-610-01]
Conceptual
Framework: Creditors
[ACC-610-01]
Conceptual
Framework: Investors
[ACC-610-01]
Analysis of Financial
Statements: Financial
Ratios
[ACC-610-04]
Analysis of Financial
Statements: Cash
[ACC-610-04]
Exemplary
Meets “Proficient” criteria and
explanation provides keen
insight into how the conceptual
framework and accounting
standards apply to the chosen
company
(100%)
Meets “Proficient” criteria and
analysis demonstrates why this
information would interest
creditors
Proficient
Explains how the conceptual
framework and accounting
standards apply to the chosen
company
Needs Improvement
Explains how the conceptual
framework and accounting
standards apply to the chosen
company but explanation lacks
depth or detail
Not Evident
Does not explain how the
conceptual framework and
accounting standards apply to
the chosen company
(90%)
Analyzes the information within
the disclosure statements for
information that would interest
creditors
(100%)
Meets “Proficient” criteria and
analysis demonstrates why this
information would interest
investors
(90%)
Analyzes the information within
the disclosure statements for
information that would interest
investors
(100%)
Meets “Proficient” criteria and
explains the reasons why these
changes have occurred
(90%)
Explains the changes in the
financial ratios that have
occurred
(0%)
Does not analyze the
information within the
disclosure statements for
information that would interest
creditors
(0%)
Does not analyze the
information within the
disclosure statements for
information that would interest
investors
(0%)
Does not explain the changes in
the financial ratios that have
occurred
(100%)
Meets “Proficient” criteria and
explains the reasons why these
changes have occurred
(90%)
Analyzes the changes in
financial reports regarding cash
and examines the statement of
cash flows
(90%)
(70%)
Analyzes the information within
the disclosure statements for
information that would interest
creditors but analysis is cursory
or lacks depth
(70%)
Analyzes the information within
the disclosure statements for
information that would interest
investors but analysis is cursory
or lacks depth
(70%)
Explains the changes in the
financial ratios that have
occurred but explanation lacks
depth or detail
(70%)
Analyzes the changes in
financial reports regarding cash
but analysis lacks depth or
detail
(70%)
(100%)
(0%)
Does not analyze the changes in
financial reports regarding cash
(0%)
Value
5.5
5.5
5.5
5.5
5.5
Analysis of Financial
Statements: Account
Balance
[ACC-610-04]
Meets “Proficient” criteria and
explains the reasons for why
these changes have occurred
Analyzes the changes in
financial reports regarding the
accounts receivable account
balance
(100%)
Analysis of Financial
Statements: Valuation
Method
[ACC-610-04]
Analysis of Financial
Statements: Predict
[ACC-610-03]
GAAP vs. IFRS:
Transition
[ACC-610-02]
GAAP vs. IFRS:
Financial Statement
[ACC-610-02]
Adjusting Entries:
Depreciation Method
[ACC-610-05]
Meets “Proficient” criteria and
provides keen insight into the
benefits of this method
(100%)
Meets “Proficient” criteria and
provides keen insight into how
the future plans of the company
may inform its future success
(100%)
Meets “Proficient” criteria and
provides keen insight on how
the chosen company would
implement these steps
(90%)
Describes the valuation method
of the chosen company and
explains why it uses this
method
(90%)
Predicts how the chosen
company will perform in the
following year compared to
competitors based on industry
trends, future plans of
company, and the information
gathered
(90%)
Explains the steps that would be
needed for the chosen company
to transition from GAAP to IFRS
(100%)
Meets “Proficient” criteria and
explanation shows a nuanced
understanding of the
differences between IFRS and
GAAP
(100%)
Meets “Proficient” criteria and
provides keen insight into why
the chosen company uses this
method
(90%)
Explains how a financial
statement would differ under
IFRS as opposed to GAAP
(100%)
(90%)
(90%)
Explains the type of
depreciation method of the
chosen company and why this
method is used
Analyzes the changes in
financial reports regarding the
account balance, but analysis
lacks depth or detail
(70%)
Does not analyze the changes in
financial reports regarding the
account balance
Describes the valuation method
of the chosen company and
explains why it uses this
method but explanation lacks
depth or detail
(70%)
Predicts how the chosen
company will perform in the
following year compared to
competitors, but prediction is
cursory
Does not describe the valuation
method of the chosen company
or explain why it uses this
method
(70%)
Explains the steps that would be
needed for the chosen company
to transition from GAAP to IFRS
but explanation lacks depth or
detail
(70%)
Explains how a financial
statement would differ under
IFRS as opposed to GAAP but
explanation lacks depth or
detail
(70%)
Explains the type of
depreciation method of the
chosen company and why this
method is used but explanation
lacks depth or detail
(70%)
(0%)
Does not explain the steps that
would be needed for the
chosen company to transition
from GAAP to IFRS
5.5
(0%)
(0%)
Does not predict how the
chosen company will perform in
the following year compared to
competitors
(0%)
Does not explain how a financial
statement would differ under
IFRS as opposed to GAAP
(0%)
Does not explain the type of
depreciation method of the
chosen company and why this
method is used
(0%)
5.5
5.5
5.5
5.5
5.5
Adjusting Entries:
Adjusting Entry
[ACC-610-05]
Identifies an example of an
adjusting entry and whether or
not the chosen company has
this listed
(100%)
Prepares a spreadsheet that
compares financial ratios for the
chosen company to the industry
averages
Financial Analysis:
Financial Ratios
[ACC-610-04]
Financial Analysis:
Summation
[ACC-610-04]
Meets “Proficient” criteria and
makes cogent connections
between how the financial
ratios in the spreadsheet inform
the performance of the chosen
company
(100%)
Composes a summation as to
how the chosen company is
performing in relation to its
competitors that is based on
information from the
spreadsheet
Communication:
Transitioning
[ACC-610-02]
(100%)
Meets “Proficient” criteria and
uses industry-specific language
to establish expertise
(90%)
Composes a memo that
addresses the advantages and
disadvantages of transitioning
from GAAP to IFRS
Communication:
Bankrupt
[ACC-610-05]
(100%)
Meets “Proficient” criteria and
uses industry-specific language
to establish expertise
(90%)
Composes a memo that
addresses how the bankruptcy
will affect the chosen
company’s accounts receivable
(100%)
Meets “Proficient” criteria and
illustrates a nuanced
understanding of the influence
of global events on the wellbeing of a company
(100%)
(90%)
Analyzes the effects of the
global disaster on the financial
statements of the chosen
company
Financial Report:
Financial Statements
[ACC-610-03]
(90%)
Identifies an example of an
adjusting entry and whether or
not the chosen company has
this listed but identification is
inappropriate or incorrect
(70%)
Prepares a spreadsheet that
compares financial ratios for the
chosen company to the industry
averages but spreadsheet
contains miscalculations or
errors
(70%)
Composes a summation as to
how the chosen company is
performing in relation to its
competitors that is based on
information from the
spreadsheet but summation is
inaccurate or lacks detail
(70%)
Composes a memo that
addresses the advantages and
disadvantages of transitioning
from GAAP to IFRS but memo
lacks depth or detail
(70%)
Composes a memo that
addresses how the bankruptcy
will affect the chosen
company’s accounts receivable
but memo lacks depth or detail
(70%)
Analyzes the effects of the
global disaster on the financial
statements of the chosen
company but analysis lacks
depth or detail
(70%)
Does not identify an example of
an adjusting entry and whether
or not the chosen company has
this listed
(0%)
Does not prepare a spreadsheet
that compares financial ratios
for the chosen company to the
industry averages
(0%)
Does not compose a summation
as to how the chosen company
is performing in relation to its
competitors that is based on
information from the
spreadsheet
(0%)
Does not compose a memo that
addresses the advantages and
disadvantages of transitioning
from GAAP to IFRS
(0%)
Does not compose a memo that
addresses how the bankruptcy
will affect the chosen
company’s accounts receivable
(0%)
Does not analyze the effects of
the global disaster on the
financial statements of the
chosen company
(0%)
5.5
5.5
5.5
5.5
5.5
5.5
Financial Report:
Strategies
[ACC-610-03]
Articulation of
Response
Meets “Proficient” criteria and
recommendations are well
supported and logical
Recommends strategies that
address the effect of the
disaster on the chosen company
(100%)
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