Unit 3 Assignment
GB518: Financial Accounting Principles and Analysis
Case Study Part 1: Details and Rubric
Initial Notes:
1. Only the Title Page, Abstract, Headings and Subheadings for the final analysis paper and preliminary Reference List are due in Unit 3.
2. The Full Case Study will be due in Unit 4.
3. A PowerPoint Presentation for the Case will be due in Unit 5.
4. The Case Project is developed over 3 Units: 3, 4 & 5. The Case Project should be considered a single assignment, not 3 separate assignments. Therefore, do not overemphasize the score on any single component of the Case. Rather, take a broader and more accurate view, of the Case as a single, unified assignment worth a total of 175 points. The Case point distribution is as follows:
a. Part I (Due Unit 3) -The Initial formatting/outline = 25 Points
b. Part II (Due Unit 4) – The Full Paper (Analysis) = 100 Points
c. Part III (Due Unit 5) – The Case PowerPoint Presentation = 50 Points
Total Case Assignment Points = 175 Points
5. The Textbook, Continuing Problem Assignment Instructions, Classroom/course assignment instructions, etc. use several terms interchangeably. The following terms can be understood as referring to your Project or individual elements of the project: Case Project, Continuing Problem, Continuing Case, “CC”, “CCC.” If you have any questions about any of the terminology, please do not hesitate to ask in the Virtual Office.
6. Much of the Case Project will be an exercise in developing your skill at following instructions. Therefore, be sure to read all assignment instructions (All Units – 3, 4 and 5) very carefully before starting the writing process.
VERY IMPORTANT INITIAL GENTLE REMINDER: If you do not understand Plagiarism and how to avoid violating the rules of Academic Integrity, please review the tutorial in the classroom title “Plagiarism”. It can be found under the “Academic Tools” tab. All written papers (and many of the Discussion Posts) will be submitted to Turnitin to determine originality of content. In particular, do NOT simply “cut and paste” ANY content from ANY source unless you intend to use the material as a properly formatted and attributed Direct Quote. If you do not understand the rules for proper attribution of unoriginal sources, please carefully review the information available in the Writing Center in the material related to “Using Sources.”
Unit 3 Case Part 1 Assignment Specifics:
Part 1 of the Continuing Case, due in Unit 3, includes creating the Title Page, Abstract and preliminary Reference List for a formal analysis paper. For the Case, you are to complete a series of “Continuing Problems” from your textbook. Those Continuing Problems involve a series of business issues related to the “Cookie Creations” company progressive narratives in the textbook end-of-chapter resources.
This is the list of Continuing Problems you will complete:
Textbook’s “Continuing Problems:”
· CC 1 – page 37 In the physical text.
· CC 2 – page 83 in the physical text.
· CC 7 – Part 1, ONLY, page 366 in the physical text.
· CC 8 – Requirement (a), ONLY, page 415 in the physical text.
NOTE: Although not due in the Case Paper, Part 1 or 2, the following additional Continuing Problem will be included in the Unit 5 Case Part 3 PowerPoint Assignment:
· CC 11– Part 1, (a), ONLY, page 581 in the physical text.
· You should preview the Unit 4 & 5 Assignment Instructions.
Special Note: The full Continuing Problem Narratives may NOT be included in the physical textbook pages. The full CC narratives can be located at the Textbook Companion Website: www.wiley.com/college/kimmel
The order of presentation MUST follow the grading rubric order.
You should consider using the CC Problem elements or the grading rubric as a basic “Outline” (ie, Headings and Subheadings) for your paper. You may use the individual CC Problem parts to build your headings and subheadings. The rubric is provided at the end of this document.
Thinking ahead to Unit 4, Do NOT simply answer the components in each CC Problem. Be thorough! Short answers do not provide the necessary analysis for critical thinking. Be sure to complete all required sections for all CC problems.
IMPORTANT NOTES:
1. Your Unit 3 Assignment should ONLY include sufficient page length to include: Title Page, Abstract, Full Paper Headings and Subheadings (for the full analysis) and a preliminary Reference List.
2. Use the APA Template provided in the classroom as the basis for constructing your Unit 3 Assignment.
3. The physical Textbook only supplies a portion of the complete Narrative in some CC Problems. Therefore, you MUST use the additional resources available in WileyPLUS or the Textbook Student Companion Website.
As a preview: The final paper must be presented in a single Word document. The full paper due in Unit 4 must be between 6 to 8 pages in length , not including the title and reference list pages. The paper must use proper APA Publication Manual, 6th Edition formatting, including title page, running head, abstract and reference list with properly formatted citations in the body of the paper. Headings and sub-headings are REQUIRED.
Additional NOTES:
2. Part 2 is an Analysis; do NOT present an “Interview” format with “questions and answers”. Do not simply provide “short-answers,” use a more formal approach in the communication style. In case you do not understand the difference between formal and informal styles, please review the information provided by the Writing Center in their link related to “Formal versus Informal Writing.”
3. A properly formatted Title Page with Running head and abstract is required.
4. Do NOT include a table of contents.
5. Do NOT repeat or copy the assignment question narratives. You may use abbreviated versions of the questions as headings and sub-headings. Anything that artificially increases the length of the paper but does not add value to the analysis will result in a reduced score.
6. The Unit 5 Case PowerPoint cannot be submitted until the Unit 4 Case Paper has been completed and the feedback returned to you. The Unit 4 Case Paper cannot be submitted until after the Unit 3 Case Part I Outline has been completed and the feedback returned to you.
7. For more specific information and guidance, please access the following resources available in the Writing Center:
a. How to Write an Abstract.
b. How to Get Help with Your Writing.
c. APA Headers and Title Page Tutorial.
d. Using Headings and Subheadings in APA.
e. APA Reference Page.
f. Formal versus Informal Writing.
g. Using Sources (or, unoriginal content)
After you have completed the Unit 3 Case Paper Title Page, Abstract, Outline and Preliminary Reference List, upload your Word document to the Unit 3 Assignment Dropbox before 11:59 PM (ET), on Tuesday of Unit 3.
Name your assignment filename using this format: LastName_FirstName_Unit#_AssignmentName
For example, this assignment will be named: Smith_Joan_Unit03_CasePaper Part 01
Assignments submitted late will be subject to the Late Policy described in the Syllabus.
| GB518 Unit 3 Assignment Grading Rubric | |||
| Category/Description | Points Possible | Points Earned | Instructor Additional Comments (If necessary) |
| Part 1) Create the Continuing Problem Case Title Page: | |||
| Properly formatted Running head with page numbers in upper right corner, only. | 1 | NOTE: Please review all guidance and feedback presented in the margins and within the paper. | |
| Properly formatted Title Page body. | 1 | ||
| Are ONLY the 3 required elements for the Body of the Title Page included? | 1 | ||
| Other considerations, as appropriate. For example, no graphics or color in Title Page | 1 | ||
| Part 2) Write an Abstract | |||
| Properly formatted Abstract page.
i. Proper Length (150 to 250 words). ii. Proper margins and paragraph format. |
2
1 |
||
| Is the Abstract Content appropriate? | 2 | ||
| Other considerations, as appropriate. | 1 | ||
| Part 3) Heading and Subheading Outline. | |||
| Are ALL CC Problem Narrative elements represented in the Outline as Headings or Subheadings? | 1 | ||
| Are the Headings and Subheadings appropriately formatted in Level One and Level Two APA style? | 1 | ||
| Other considerations, as appropriate. | 1 | ||
| Part 4) Preliminary Reference List: | |||
| Heading centered and properly formatted. | 2 | ||
| Proper “Hanging Indent” paragraph format used. | 2 | ||
| Minimum of Four or 5 References included. | 2 | ||
| Preliminary References formatted properly. | 2 | ||
| Preliminary References include all required reference list elements. | 2 | ||
| Preliminary References in alphabetical order. | 1 | ||
| Other considerations, as appropriate. | 1 | ||
| Content Subtotal | 25 | ||
| Deduct Late Penalty in accordance with Syllabus if necessary. | |||
| Total | 25 |
Case Study Part 2: Details and Rubric
Initial Notes:
5. The Full Case Study is due in Unit 4.
6. A PowerPoint Presentation for the Case will be due in Unit 5.
7. The Case Project is developed over 3 Units: 3, 4 & 5. The Case Project should be considered a single assignment, not 3 separate assignments. Therefore, do not overemphasize the score on any singe component of the Case. Rather, take a broader, and more accurate view, of the Case as a single, unified assignment worth a total of 175 points. The Case point distribution is as follows:
d. Part I (Due Unit 3) -The Initial formatting/outline = 25 Points
e. Part II (Due Unit 4) – The Full Paper (Analysis) = 100 Points
f. Part III (Due Unit 5) – The Case PowerPoint Presentation = 50 Points
Total Case Assignment Points = 175 Points
7. The Textbook, Continuing Problem Assignment Instructions, Classroom/course assignment instructions, etc. use several terms interchangeably. The following terms can be understood as referring to your Project or individual elements of the project: Case Project, Continuing Problem, Continuing Case, “CC”, “CCC.” If you have any questions about any of the terminology, please do not hesitate to ask in the Virtual Office.
8. Much of the Case Project will be an exercise in developing your skill at following instructions. Therefore, be sure to read all assignment instructions very carefully before starting the writing process.
VERY IMPORTANT INITIAL GENTLE REMINDER: If you do not understand Plagiarism and how to avoid violating the rules of Academic Integrity, please review the tutorial in the classroom title “Plagiarism”. It can be found under the “Academic Tools” tab. All written papers (and many of the Discussion Posts) will be submitted to Turnitin to determine originality of content. In particular, do NOT simply “cut and paste” ANY content from ANY source unless you intend to use the material as a properly formatted and attributed Direct Quote. If you do not understand the rules for proper attribution of unoriginal sources, please carefully review the information available in the Writing Center in the material related to “Using Sources.”
Part 2 of the Continuing Case, due in Unit 4, builds on the work completed in Unit 3. The Title Page, Abstract, Outline and preliminary Reference List completed in Unit 3 will be the foundation for the continued effort in Unit 4.
For the Case Part 2, you are to complete a series of “Continuing Problems” from your textbook. Those Continuing Problems involve a series of business issues related to the “Cookie Creations” company progressive narratives in the textbook end-of-chapter resources.
This is the list of Continuing Problems you will complete:
Textbook’s “Continuing Problems:”
· CC 1 – page 37 In the physical text.
· CC 2 – page 83 in the physical text.
· CC 7 – Part 1, ONLY, page 366 in the physical text.
· CC 8 – Requirement (a), ONLY, page 415 in the physical text.
NOTE: Although not due in the Case Paper, Part 1 or 2, the following additional Continuing Problem will be included in the Unit 5 Case Part 3 PowerPoint Assignment:
· CC 11– page 581 in the physical text.
· You should preview the Unit 5 Assignment Instructions.
Special Note: The full Continuing Problem Narratives may NOT be included in the physical textbook pages. The full CC narratives can be located at the Textbook Companion Website: www.wiley.com/college/kimmel
The order of presentation MUST follow the grading rubric order.
Do NOT simply use short answers for the components in each CC Problem. Be thorough! Short answers do not provide the necessary analysis or critical thinking. Be sure to complete all required sections for all CC problems.
IMPORTANT NOTES:
4. Use the APA Template as the basis for completing your Unit 4 Assignment.
5. The final paper must be presented in a single Word document. The full paper due in Unit 4 must be between 6 to 8 pages in length, not including the title and reference list pages. The paper must use proper APA Publication Manual, 6th Edition formatting, including title page, running head, abstract and reference list with properly formatted citations in the body of the paper. Headings and sub-headings are REQUIRED.
6. The physical Textbook only supplies a portion of the complete Narrative in some CC Problems. Therefore, you MUST use the additional resources available in WileyPLUS or the Textbook Student Companion Website.
IMPORTANT NOTES:
9. Part 2 is an Analysis ; do NOT present an “Interview” format with “questions and answers”.
10. Do not simply provide “short-answers,” use a more formal approach in the communication style. If you do not understand the differences between formal and informal writing, please carefully review the guidance available in the Writing Center.
11. A properly formatted Title Page with Running head and an Abstract are required .
12. Do NOT include a table of contents.
13. Do NOT repeat or copy the assignment question narratives. You should use abbreviated versions of the questions as headings and sub-headings.
14. Anything that artificially increases the length of the paper but does not add value to the analysis will result in a reduced score.
15. For more specific information and guidance, please access the following resources available in the Writing Center:
h. Writing a research paper.
i. Introductions and conclusions.
j. Plagiarism prevention.
k. Formal versus informal writing.
l. Critical thinking and the writing process.
m. Before submitting your Unit 4 Case Paper, submit it to the Writing Center for “Paper Review.”
n. Using Sources (or, unoriginal content)
After you have completed the Unit 4 Case Paper, upload your Word document to the Unit 4 Assignment Dropbox before 11:59 PM (ET), on Tuesday of Unit 4.
Name your assignment filename using this format: LastName_FirstName_Unit#_AssignmentName
For example, this assignment will be named: Smith_Joan_Unit03_CasePaper Part 01
Assignments submitted late will be subject to the Late Policy described in the Syllabus.
Note: You may only submit your unit 4 Case Paper after the Unit 3 Case Assignment has been submitted and returned to you with feedback.
| GB518 Unit 4 Assignment Grading Rubric | |||
| Category/Description | Points Possible | Points Earned | Instructor Additional Comments (If necessary) |
| Part 1) Introduction | |||
| All elements of the introduction conform to the guidance available in the Writing Center Resources. | 2 | NOTE: Please review all guidance and feedback presented in the margins and within the paper. | |
| Content effectively communicates the introductory requirements. | 2 | ||
| Any additional, relevant Introductory content appropriate to the assignment. | 2 | ||
| Part 2) CC 1 | |||
| Recommend business form. Discuss the benefits and weaknesses of each form that Natalie might consider. | 2 | ||
| Accounting information needed? What information will she need / why? How often is the information needed? | 2 | ||
| Identify specific accounts that Cookie Creations use. | 2 | ||
| Open a separate bank account? Why or why not? | 2 | ||
| Recommendations about keeping business and personal assets separate? | 2 | ||
| Part 3) CC 2 | |||
| Type of information each financial statement provides? | 2 | ||
| Financial statements needed to evaluate whether cash meets current liabilities? Explain. | 2 | ||
| Evaluate Long-term Viability of Biscuits? Explain. | 2 | ||
| Financial statements needed to evaluate Biscuits’ profitability? Explain. | 2 | ||
| Where can Natalie find out whether Biscuits has outstanding debt? How can Natalie determine whether Biscuits would be able to meet its interest and debt payments on any debts it has? | 2 | ||
| How could we determine if Biscuits pays dividends? | 2 | ||
| What other concerns should Natalie have? | 2 | ||
| Part 4) CC 7 | |||
| Identify weaknesses in internal controls in the system John is recommending. | 2 | ||
| Suggest any improvements if John is hired. | 2 | ||
| Part 5) CC 8 | |||
| What calculations needed and how will the results help? | 2 | ||
| Alternatives to credit extension for 30 days? | 2 | ||
| Advantages and disadvantages of credit card payment. | 2 | ||
| Part 6) Conclusion Segment | |||
| Create a Conclusion segment that incorporates the guidance found in the Writing Center. | 10 | ||
| Content Subtotal | 50 | ||
| Analysis and Critical Thinking: | |||
| Is the page-length requirement met? NOTES:
a) The Title Page, Abstract and Reference List are required. BUT, they do are NOT included in the 6 to 8-page length requirement. |
10 | ||
| b) This is an Either/Or grading component. That is: If any page length less than 6 full pages of properly formatted analysis is presented, the score earned here is 0/10. No partial credit allowed for this component of the rubric. | 5 | ||
| c) IMPORTANT NOTE: If the work product submitted is significantly less than 6 pages, additional deductions may be warranted in other rubric segments. | 5 | ||
| · Concise/precise language used / Appropriate formal language?
· Economy of Expression Used? · Elements of Critical Thinking Used. (1- Identify premises & conclusions, 2- Clarify arguments, 3- Establish facts, 4- Evaluate Logic, 5- Final evaluation). |
10 | ||
| APA Format (Sixth Edition): | |||
| For example, is all content properly cited/referenced? | 8 | ||
| Is all feedback/guidance from Part 1 incorporated? | 5 | ||
| Grammar / Spelling / Punctuation Formatting. | 7 | ||
| Deduct Late Penalty in accordance with Syllabus if necessary. | |||
| Final Score | 100 |
Continuing Cookie Chronicle
CCC1 Natalie Koebel spent much of her childhood learning the art of cookie-making from her grandmother. They spent many happy hours mastering every type of cookie imaginable and later devised new recipes that were both healthy and delicious. Now at the start of her second year in college, Natalie is investigating possibilities for starting her own business as part of the entrepreneurship program in which she is enrolled.
A long-time friend insists that Natalie has to include cookies in her business plan. After a series of brainstorming sessions, Natalie settles on the idea of operating a cookie-making school. She will start on a part-time basis and offer her services in people’s homes. Now that she has started thinking about it, the possibilities seem endless. During the fall, she will concentrate on holiday cookies. She will offer group sessions (which will probably be more entertainment than education) and individual lessons. Natalie also decides to include children in her target market. The first difficult decision is coming up with the perfect name for her business. She settles on “Cookie Creations,” and then moves on to more important issues.
Instructions
(a) What form of business organization—proprietorship, partnership, or corporation— do you recommend that Natalie use for her business? Discuss the benefits and weaknesses of each form that Natalie might consider.
(b) Will Natalie need accounting information? If yes, what information will she need and why? How often will she need this information?
(c) Identify specific asset, liability, revenue, and expense accounts that Cookie Creations will likely use to record its business transactions.
(d) Should Natalie open a separate bank account for the business? Why or why not?
(e) Natalie expects she will have to use her car to drive to people’s homes and to pick up supplies, but she also needs to use her car for personal reasons. She recalls from her first-year accounting course something about keeping business and personal assets separate. She wonders what she should do for accounting purposes. What do you recommend?
CCC2 After investigating the different forms of business organization, Natalie Koebel decides to operate her business as a corporation, Cookie Creations Inc., and she begins the process of getting her business running.
While at a trade show, Natalie is introduced to Gerry Richards, operations manager of “Biscuits,” a national food retailer. After much discussion, Gerry asks Natalie to consider being Biscuits’ major supplier of oatmeal chocolate chip cookies. He provides Natalie with the most recent copy of the financial statements of Biscuits. He expects that Natalie will need to supply Biscuits’ Watertown warehouse with approximately 1,500 dozen cookies a week. Natalie is to send Biscuits a monthly invoice, and she will be paid approximately 30 days from the date the invoice is received in Biscuits’ Chicago office.
Natalie is thrilled with the offer. However, she has recently read in the newspaper that Biscuits has a reputation for selling cookies and donuts with high amounts of sugar and fat, and as a result, consumer demand for the company’s products has decreased.
Instructions
Natalie has several questions. Answer the following questions for Natalie.
(a) What type of information does each financial statement provide?
(b) What financial statements would Natalie need in order to evaluate whether Biscuits will have enough cash to meet its current liabilities? Explain what to look for.
(c) What financial statements would Natalie need in order to evaluate whether Biscuits will be able to survive over a long period of time? Explain what to look for.
(d) What financial statement would Natalie need in order to evaluate Biscuits’ profitability? Explain what to look for.
(e) Where can Natalie find out whether Biscuits has outstanding debt? How can Natalie determine whether Biscuits would be able to meet its interest and debt payments on any debts it has?
(f) How could Natalie determine whether Biscuits pays a dividend?
(g) In deciding whether to go ahead with this opportunity, are there other areas of concern that Natalie should be aware of?
CCC7 Part 1 Natalie is struggling to keep up with the recording of her accounting transactions. She is spending a lot of time marketing and selling mixers and giving her cookie classes. Her friend John is an accounting student who runs his own accounting service. He has asked Natalie if she would like to have him do her accounting.
John and Natalie meet and discuss her business. John suggests that he do the following for Natalie.
1. Hold onto cash until there is enough to be deposited. (He would keep the cash locked up in his vehicle). He would also take all of the deposits to the bank at least twice a month.
2. Write and sign all of the checks.
3. Record all of the deposits in the accounting records.
4. Record all of the checks in the accounting records.
5. Prepare the monthly bank reconciliation.
6. Transfer all of Natalie’s manual accounting records to his computer accounting program. John maintains all of the accounting information that he keeps for his clients on his laptop computer.
7. Prepare monthly financial statements for Natalie to review.
8. Write himself a check every month for the work he has done for Natalie.
Instructions
Identify the weaknesses in internal control that you see in the system that John is recommending. (Consider the principles of internal control identified in the chapter.) Can you suggest any improvements if John is hired to do Natalie’s accounting?
CCC8 One of Natalie’s friends, Curtis Lesperance, runs a coffee shop where he sells specialty coffees and prepares and sells muffins and cookies. He is eager to buy one of Natalie’s fine European mixers, which would enable him to make larger batches of muffins and cookies. However, Curtis cannot afford to pay for the mixer for at least 30 days. He asks Natalie if she would be willing to sell him the mixer on credit.
Natalie comes to you for advice and asks the following questions.
1. “Curtis has provided me with a set of his most recent financial statements. What calculations should I do with the data from these statements, and how will the results help me decide if I should extend credit to Curtis?”
2. “Is there an alternative other than extending credit to Curtis for 30 days?”
3. “I am thinking seriously about permitting my customers to use credit cards. What are some of the advantages and disadvantages of letting my customers pay by credit card?”
Instructions
(a) Answer Natalie’s questions.
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