ACC 308 Milestone Two Guidelines and Rubric

Overview: For Milestone Two, which is due in Module Five, you will create pro forma financial statements, notes to the financial statements, and develop a report for management explaining the impact of pro forma financial statements on the company’s expansion plans, implications of inventory costing, contingent liabilities, and revenue recognition. In your management analysis brief, you will also identify potential issues in interpreting financial statements.

Prompt: First, review the Final Project Scenario document and the accompanying Final Project Workbook. Follow the instructions below and complete the workbook with the information provided in the scenario. Using your review of the scenario, develop a management analysis brief that addresses the critical elements indicated below. Use information from your accounting workbook to support your claims in the management analysis bri ef.

Note: Milestone Two is a draft of some critical elements of the final project. Note that the management analysis brief informs the management analysis memo in the final project.

Specifically, the following critical elements must be addressed:

I. Accounting Workbook: Your accounting workbook must include appropriate calculations and statements: A. Create pro forma financial statements for predicting ability to meet future expansion goals. Pro Forma Statements are “what if” statements. If

the company opens the second location, what will the budgeted income statement and budgeted balance sheets be?

II. Notes to the Financial Statements: You will find an example for how to format these notes located in the module resources. Your notes must contain the following:

A. Create appropriate notes as year-to-year documentation for managing depreciation, supplies, and inventory. B. Create appropriate notes for long-term debt.

III. Management Analysis Brief: Your management analysis brief should explain financial information to management. Provide evidence from your accounting workbook to support your ideas where applicable.

A. Discuss the impact of the pro forma financial statements for predicting ability to meet future expansion goals. B. Describe the implications of inventory costing, contingent liabilities, and revenue recognition. C. Identify potential issues in interpretation of financial information, providing examples to support your ideas.

Rubric Guidelines for Submission: You will submit three files for this milestone. Your accounting workbook must be submitted as a Microsoft Excel document. Your notes to the financial statement must be submitted in a Microsoft Word document. Your management analysis brief should be a separate 1- to 2-page Microsoft Word document with double spacing, 12-point Times New Roman font, and one-inch margins.

Critical Elements Proficient (100%) Needs Improvement (75%) Not Evident (0%) Value

Accounting Workbook: Pro Forma Financial

Statements

Creates pro forma financial statements for predicting ability to meet future expansion goals

Creates pro forma financial statements but calculations contain inaccuracies

Does not create pro forma financial statements

15

Notes to the Financial Statements: Year-to-Year

Documentation

Creates appropriate notes as year-to- year documentation for managing depreciation, supplies, and inventory

Creates appropriate notes as year-to- year documentation for managing depreciation, supplies, and inventory, but notes are cursory or illogical

Does not create appropriate notes as year-to-year documentation for managing depreciation, supplies, and inventory

15

Notes to the Financial Statements:

Long-Term Debt

Creates appropriate notes for long-term debt

Creates appropriate notes for long-term debt, but notes are cursory or illogical

Does not create appropriate notes for long term debt

15

Management Analysis Brief: Pro Forma Financial

Statements

Discusses the impact of pro forma financial statements for predicting ability to meet future expansion goals

Discusses the impact of pro forma financial statements for predicting ability to meet future expansion goals, but explanation is cursory or contains inaccuracies

Does not discuss the impact of pro forma financial statements

15

Management Analysis Brief: Inventory Costing,

Contingent Liabilities, and Revenue Recognition

Describes the implications of inventory costing, contingent liabilities, and revenue recognition

Describes the implications of inventory costing, contingent liabilities, and revenue recognition, but description is cursory or illogical

Does not describe the implications of inventory costing, contingent liabilities, and revenue recognition

15

Management Analysis Brief: Issues in Interpretation

Identifies potential issues in interpretation of financial information, providing examples to support ideas

Identifies potential issues in interpretation of financial information, but identification or examples provided are cursory or illogical

Does not identify potential issues in interpretation of financial information

15

Articulation of Response Submission has no major errors related to citations, grammar, spelling, syntax, or organization

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

10

Total 100%

Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.