March 1, 2022

ACC 620 Final Project Guidelines and Rubric Overview According to the AICPA (American Institute of Certified Public Accountan

ACC 620 Final Project Guidelines and Rubric

Overview

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 and the interpersonal skills and maturity to make decisions in a client and customer service environment.

If you continue to use the company that you adopted in ACC 610, you will apply the technical competence and other skills required by today’s CPAs. Through case-study analysis, you will develop skills such as communication, presentation, and interpersonal relations in conjunction with technical accounting knowledge. If you have transferred directly into ACC 620 and have not had the opportunity to choose a company, or are choosing a different company than you used in ACC 610 you will do so at this time. Throughout ACC 620, you will apply the concepts you are learning using the financial data and business scenarios of a prominent retail company. You may choose from Walmart, Kroger, Amazon, Costco, The Home Depot, CVS Health Corporation or Target.

ACC 620: Financial Reporting II is a continuation of ACC 610. In ACC 620, your focus in the final project will be on developing skills in critical thinking and applying accounting theories and practices according to generally accepted accounting principles (GAAP). You will be analyzing situations and communicating results to decision makers with an emphasis on stockholders’ equity, income measurement, income taxes, pensions, leases, and statements of changes in financial positions.

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.

In this assignment, you will demonstrate your mastery of the following course outcomes:

Analyze stockholder sections of balance sheets for how they inform stakeholders of equity positioning

Interpret income measurement for determining the accuracy of financial statements

Analyze the effect of income taxes and their impact on financial statement accounts for appropriate estimation and planning

Evaluate various pension plans for their implications on balance sheets and income statements

Differentiate between operating and capital leases for addressing their impact on balance sheets and income statements

Analyze complex financial statements for informing stakeholders in making economic decisions

Prompt

You will continue to work with the retail company you have chosen either in ACC 610 or at the beginning of this class. If you are transferring into SNHU’s financial reporting courses, you will choose from five retail companies (Walmart, Kroger, Amazon, Costco, The Home Depot, CVS Health Corporation or Target). This company will be yours throughout the Financial Reporting Series (ACC 610, ACC 620). You will adopt this company to apply learning concepts in authentic scenarios. Through this assessment, you will continue building your Financial Reporting Series portfolio.

Your portfolio pieces for this project will include memos, spreadsheets, and a final report.

At the most recent strategic planning meeting, the board of directors of your company has voted to issue additional stock to raise capital for major expansions for the company in the next five years. The board is considering issuing a total amount of stock worth $5 billion. The CEO has asked you to analyze the impact of issuing this stock on the income statement, statement of retained earnings, balance sheet, and cash flow statement. Take the most recent financial statements and prepare a set of projected financial statements based on the given assumptions.

Specifically, the following critical elements must be addressed:

I. Stockholders’ Equity

Determine how your company got its initial financial start in terms of debt (liabilities) or equity (capital). Support your response.

Analyze the equity section of your company’s balance sheet as compared to your company’s industry average. Rate the company’s performance against its competitors.

Review your company’s dividend policy and its history. Based on the information, discuss the trends over the past year.

II. Income Measurement/Revenue Recognition

Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) came together on a unified project to outline the accounting principles for recognizing revenue and to develop a common revenue standard for U.S. GAAP and IFRS. Research IAS-18, Revenue, and discuss how it would apply to your company.

Review your company’s revenue over the past two years. Analyze the change in revenue (increase/decrease) and give the reasons for this change.

Reflecting upon your company’s balance sheet, identify the unearned revenue accounts listed. How does your company handle the proper accounting treatment with regard to recognizing revenue from unearned revenue accounts?

III. Income Taxes

If Congress voted to eliminate corporate taxes, what would be the effect on your company’s income statement and balance sheet? Defend your response.

Calculate the income tax rate for your chosen company. What effect will an increase in income of $2,000,000 have on your company?

What are the effects on the balance sheet and income statement? Justify your response.

How much did your company pay in foreign taxes last year? What percentage of its income is United States vs. foreign?

IV. Leases

What are the differences between operating and capital leases?

Describe the particular leases of your company based on the liability section of your company’s balance sheet.

What impact have the leases had on the company’s financial statements for the most recent year?

Discuss the advantages and disadvantages of leasing a building versus purchasing one.

V. Pensions Address the following elements in the form of a memo to your CEO:

From your company’s financial information, what type of pension plan does it have? Discuss the reasons why your company has chosen this particular plan.

What was the effect of the pension plan on your company’s financial statements? Defend your response.

Your CEO has informed you—the controller of your company—that the board of directors has made the decision to look at other options of types of retirement plans. Investigate what other alternatives would be available, and determine which would be appropriate for your particular company.

VI. Statement of Cash Flows

From the perspective of an investor, determine whether or not you would invest in your chosen company based on the company’s Statement of Cash Flows (SoCF). Support your opinion.

Review the company’s SoCF for any concerns that may need to be addressed. As controller of your company, prepare a memo to your CEO, giving a summary report for possible recommendations.

VII. Report for CEO At the most recent strategic planning meeting, the board of directors of your company has voted to issue additional stock to raise capital for major expansions for the company in the next five years. The board is considering $5 billion. Take the most recent financial statements and prepare a set of projected financial statements based on the given assumptions. The CEO requests that you prepare a written report (including the financial statements) for her.

Generate a projected income statement based on the given scenario.

Analyze the impact on the income statement based on the given scenario.

Generate a projected statement of retained earnings based on the given scenario.

Analyze the impact on the statement of retained earnings based on the given scenario.

Generate a projected balance sheet based on the given scenario.

Analyze the impact on the balance sheet based on the given scenario.

Generate a projected statement of cash flows based on the given scenario.

Analyze the impact on the statement of cash flows based on the given scenario.

Milestones

Milestone One: Stockholders’ Equity and Revenue Recognition

In Module Three, you will submit critical elements I and II for review by your instructor. It is important that you incorporate your instructor’s feedback from this milestone into your final submission. This milestone will be graded with the Milestone One Rubric.

Milestone Two: Income Taxes and Pensions

In Module Five, you will submit critical elements III and V for review by your instructor. It is important that you incorporate your instructor’s feedback from this milestone into your final submission. This milestone will be graded with the Milestone Two Rubric.

Milestone Three: Leases and S tatement of Cash Flows

In Module Seven, you will submit critical elements IV and VI for review by your instructor. It is important that you incorporate your instructor’s feedback from this milestone into your final submission. This milestone will be graded with the Milestone Three Rubric.

Final Submission: Financial Reporting Series Portfolio

In Module Nine, you will submit your final project. It should be a complete, polished artifact containing all of the critical elements of the final product, including critical element VII: Report for the CEO. It should reflect the incorporation of feedback gained throughout the course. This submission will be graded with the Final Project Rubric.

SEE ATTACHED SUBMITTED MILESTONES AND RUBRICS:

Final Project Milestone Two: Income Taxes and Pensions (resubmission)

Alexander, Apanyin

SNHU

IV. Income taxes

Question A

In case congress decides to abolish the corporate taxes, then the profit available in the income statement will increase. The company's EPS will increase, and the tax benefits' expenses will drop. As per the current financial report, the current net income of Target Corporation was $ 4,368,000; therefore, the abolishment of the income tax will result in an increase of net income by 10. 83 % to $ 4, 841, 000. The leverage theory will stand null, and the company will be showing profits in their income statement higher than what is earned to attract investors.

The corporate taxes are placed under taxes in the current liabilities category in the company's balance sheet. The abolishment of the corporate tax will increase the current corporate assets and decrease the current liabilities. The current income tax paid by the target corporation is $ 473,000; therefore, if this tax is abolished, the current assets will increase by the amount, and the company will now have total current assets of $ 21 239 000. On the other hand, the current liabilities will decrease by $ 19 652 000. The tax liability provision will reduce in the balance sheet, and the retained earnings will increase. Nevertheless, there will be high chances to manipulate the profits, increasing it to indicate high profitability and better financial position.

Question B

Company’s income tax rate = income tax expenses/ Earning before Taxes

Income before tax expenses = $ 5, 546, 000

Income tax expenses = $ 1,178, 0000

= $ 1, 178, 000/ $ 5, 546,000

= 21.24%

The increase in the income by $ 2,000, 000 will not have any effect on the tax rate because this increase in income will also results in the increase the income tax expenses. However, if we assume that the income is not included in the income tax deduction, then the tax rate will drop 10.62 %.

Question C

The income tax expense is recorded on the debit side of income statements. The increase in the income by $2,000,000 will result in the increase of the net income. Using the tax rate obtained in B the income tax expenses will be $ 424, 810. The income after deducting the tax expense will be $1, 575, 190. Therefore, on the net income in the income statement will be $ 5,943,190.

The increase in the income will result in the increase in the current assets in the company. The income after the deduction will increased by $, 575, 190.

Question D

Target corporation pays taxes at state, federal and the international levels. The international taxes comprise those taxes that are paid to foreign countries that target corporation has business in. From 2021 financial report, Target corporation paid $281, 000 at state level, $1, 013, 000 at the federal level, and $ 68,000 at the international level. Therefore, target pays $1, 294, 000 (state taxes plus federal taxes) to united states. We can the calculate the percentage taxes that it pays. The net income is $ 4, 368, 0000.

Foreign tax income percentage = 68,000 / 4,368,000 = 1.56 %

Domestic tax income percentage = 1, 294, 000/ 4,368,000 = 29.63 %

V. Pension

To: The CEO

From: The controller

Subject: Pensions

Date: 20220213

In this memo, I will provide an overview of the different types of retirement plans and their effects for organizational financial risks.

Managers considering the obligations arising from the mutual exchange agreement. The Target Corporation has a special compensation plan to introduce representatives to future retirement payments. The organization includes this agreement because it facilitates the acquisition of obligations and expenses of partners with the organization's pension plans and other post-retirement benefits. The organization also presents a special income plan to ensure the interests of workers in the future. Target chose the plan because it offers a lifetime annuity after retirement.

Commitment to a typical compensation plan has a major detrimental impact on an organization's summary budget. For example, commitment to the agreement reduces the amount of money that can be transferred to retained earnings and reduces the organization's value as a whole. In addition, the obligation for the organization is excessive because it reduces the overall resources in the organization. The company's pension to its owners is an expense deducted from its income.

Various options for selecting the type of retirement plan are available to organizations, including individual retirement courses, clear IRA plans, financial recovery IRAs, cash purchase plans, and employee stock ownership plans (ESOPs). I think it is appropriate for an organization to use a representative shareholding plan as it aims to protect the contingent workers of the organization (Huang et al., 2020). This will convince the representative to try to work on the organization's overall financial performance. The retirement plan enables the firm to ensure that the benefits do not strain the organization's finances while ensuring the beneficiaries have enough income.

References

Huang, K., Sim, N., & Zhao, H. (2020). Corporate social responsibility, corporate financial performance and the confounding effects of economic fluctuations: A meta-analysis. International Review of Financial Analysis, 70, 101504. https://doi.org/10.1016/j.irfa.2020.101504

7-2 Final Project Milestone Three: Leases and Statement of Cash Flows -Target Company

Alexander Apanyin

SNHU

MBA 620 7-2

IV. Leases

Question A

The two most common types of leases are capital leases and operating leases. One major difference between the two is that a capital lease, also known as a finance lease, involves the transfer of ownership of an asset to the lessee. On the other hand, ownership of the asset is retained in an operating lease. Besides that, a lessee considers a lease as an asset and liability in a capital lease. Payments are usually recorded on the balance sheet (Senhadji & Lemrini, 2021). In contrast, a lessee usually considers a lease payment (rent) as an operating expense in an operating lease. The expense is recorded on the income statement but not in the balance sheet since a firm does not own the asset. In an operating lease, the lessor will consider the lease payment as a liability. But the property will remain on the lessor’s balance sheet as an asset. Another difference between the two is that, in a capital lease, the lease term amounts to seventy-five per cent (or above) of the useful life of the asset. But in an operating lease, the lease term is below seventy-five per cent of the useful life of the asset.

Question B

Target Company usually lease retail stores, distribution centers, warehouse, land, office space, as well as equipment. The company also sublease or rent certain properties to third parties. The company’s sublease and lease portfolio comprise operating leases for space inside their stores (Target, 2020). Based on the liability section of Target Company’s balance sheet, the company’s leases include current operating lease and non-current operating lease.

Question C

The aforementioned leases have had a significant impact on Target Company’s financial statements. The lease liabilities have increased the company’s total liabilities, affecting a wide variety of ratios that potential investors and creditors use to evaluate the efficiency and profitability of the company.

Question D

Leasing a building comes with several advantages. One major advantage of leasing a building versus purchasing one is that leasing does not require huge expenditure. Another advantage is that leasing provides more flexibility (Miller, 2021). A business can always find a building that fits its exact requirements with regards to the level and length of commitment. Additionally, in leasing, the owner is responsible for significant repairs, upkeep, or maintenance of the building. However, the business will not accumulate any equity in the building. Without equity, the business will not benefit from any capital appreciation. Another disadvantage of leasing a building versus purchasing one is that rent can increase at any time, making budgeting more difficult.

VI. Statement of Cash Flows

Question A

I would invest in Target Company. Target has a positive cash flow, which means that the company is reporting an increase in its liquid assets, enabling it to meet its financial obligations, return money to investors, and grow its business operation. Similarly, Target has a high operating cash flow. This indicates that the company is in good financial health.

Question B

Date: February 19, 2022

To: The CEO

From: The Company Controller

Subject: Recommendations on how to Address Major Issues in the Cash Flow Statement

Based on the statement of cash flow, Target has recorded an increase in depression expenses over the past years. In 2017, Target recorded a total of 2,476 million dollars in depreciation and amortization. In 2018, the company recorded a total of 2,474 million dollars. In 2019, Target recorded a total of 2,604 million dollars in depreciation and amortization (Target, 2020). An increase in depreciation will increase expenses and eventually reduce net income. The CEO should increase the total number of years in the estimated useful life of an asset (Bryant, 2017). This will reduce annual expenses associated with amortization and depreciation.

References

Bryant, J. (2017). How to Reduce Depreciation & Amortization Expense. Bizfluent. Retrieved from: https://bizfluent.com/how-5626335-reduce-depreciation-amortization-expense.html

Miller, M. (2021). Buying vs Leasing Commercial Real Estate: Pros and Cons of Each. Retrieved from: https://www.valuepenguin.com/small-business/buying-vs-leasing-commercial-real-estate

Senhadji, H., & Lemrini, S. (2021). Accounting for leases by lessee: Case Study. les cahiers du mecas, 17(3), 51-61.

Target. (2020). Target Annual Report:2019. Retrieved from: https://investors.target.com/static-files/84b61f80-290f-48a2-b98b-99652641f14f

Stockholders’ Equity and Revenue Recognition

ALEXANDER, APANYIN

SNHU

JAN 19, 2022

I. Stockholders’ Equity

A. Target Corporation got its initial financial start through debt. It historically relied on public debt markets to raise capital for new store development and other capital expenditures. It also relied on the commercial paper market and other credit facilities to fund seasonal needs for working capital, and the asset-backed securities market to partly fund its then accounts receivable portfolio.

B. The company’s stockholders’ equity in the balance sheet was US $14.44 billion as of 2021, which was generally good but lower than some of its key competitors such as Costco and Walmart. This means that Target is making profits through its retail operations and the business’ activities are paying off the investors.

C. The company pays quarterly dividend since it became publicly held in October 1967. The company has thus had 217 consecutive dividend payouts since October 1967. Target has a history of delivering a dividend hike every year for the last 49 years. This upward trend indicates that its long-term performance has been good since it was publicly held. It last declared a quarterly dividend of 90 cents per common share in the past year, the company has bumped up its dividend amid the pandemic. It increased its quarterly payout by 3%, from 64 to 66% per share.

II. Income Measurement/Revenue Recognition

A. Target Corporation is a retail company. Thus, IAS 18, Revenue, applies to it. IAS 18 holds the objective of prescribing the accounting treatment for revenue arising from certain types of transactions and events (Deloitte, 2020). Target is required to measure revenue at the fair value of the consideration received or receivable. The company should recognize its revenue and the recognition should be in criteria that: the amount of revenue can be measured with reliability, and it is possible that any future economic benefit associated with the item of revenue flows to the entity. In its sale of goods, Target should ensure revenue can be measured reliably, the costs incurred due to the transaction are to be measured reliably, the seller transfers to the buyer the significant risks and rewards of ownership and they do not retain ownership or control of goods sold. With respect to dividends, Target should ensure payout in revenue since the shareholder’s right to receive payment is established. Also, Target should disclose revenue pillars such as accounting policy, sale of goods and dividend (Deloitte, 2020).

B. Target Corporation has had an increase in revenue over the last two years, from US $92.4 billion in 2020 to US $99.6 billion in 2021 (NADAQ, 2022). The rise is driven by a rise in comparable store sales as well as an increase in comparable digital sales. Target CEO reported that the strong increase in revenue was because of a strong inventory position during the peak seasons coupled with peak sales, same-day digital fulfilment services and a double-digit growth in all its merchandising categories.

C. Target Corporation’s unearned revenue for the last quarter reported was 906M (NASDAQ, 2022). This represents the money it received from customers for merchandise yet to be provided or delivered. In its balance sheet, the company has placed its unearned revenue as a current liability in the liabilities section. This is a proper accounting treatment for unearned revenue, which is a liability for the recipient of the payment until the company earns the revenue by providing the merchandise to the client (AccountingTools, 2021). Recognizing unearned revenue would mean overstating profits, which is a violation of the matching concept.

References

AccountingTools. (2021, July 21). Unearned revenue definition — AccountingTools. https://www.accountingtools.com/articles/what-is-unearned-revenue.html

Deloitte. (2020). IAS 18 – Revenue. Deloitte Global. https://www.iasplus.com/en/standards/ias/ias18

NASDAQ. (2022). Target Corporation Common Stock (TGT). NASDAQ.com. https://www.nasdaq.com/market-activity/stocks/tgt/financials

ACC 620 Final Project Guidelines and Rubric

Overview 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 and the interpersonal skills and maturity to make decisions in a client and customer service environment.

In this assignment, you will demonstrate your mastery of the following course outcomes:

 Analyze stockholder sections of balance sheets for how they inform stakeholders of equity positioning  Interpret income measurement for determining the accuracy of financial statements  Analyze the effect of income taxes and their impact on financial statement accounts for appropriate estimation and planning  Evaluate various pension plans for their implications on balance sheets and income statements  Differentiate between operating and capital leases for addressing their impact on balance sheets and income statements  Analyze complex financial statements for informing stakeholders in making economic decisions

Prompt You will continue to work with the retail company you have chosen either in ACC 610 or at the beginning of this class. If you are transferring into SNHU’s financial reporting courses, you will choose from five retail companies (Walmart, Kroger, Amazon, Costco, The Home Depot, CVS Health Corporation or Target). This company will be yours throughout the Financial Reporting Series (ACC 610, ACC 620). You will adopt this company to apply learning concepts in authentic scenarios. Through this assessment, you will continue building your Financial Reporting Series portfolio.

Your portfolio pieces for this project will include memos, spreadsheets, and a final report.

Specifically, the following critical elements must be addressed:

I. Stockholders’ Equity A. Determine how your company got its initial financial start in terms of debt (liabilities) or equity (capital). Support your response. B. Analyze the equity section of your company’s balance sheet as compared to your company’s industry average. Rate the company’s performance

against its competitors. C. Review your company’s dividend policy and its history. Based on the information, discuss the trends over the past year.

II. Income Measurement/Revenue Recognition A. Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) came together on a unified project to

outline the accounting principles for recognizing revenue and to develop a common revenue standard for U.S. GAAP and IFRS. Research IAS-18, Revenue, and discuss how it would apply to your company.

B. Review your company’s revenue over the past two years. Analyze the change in revenue (increase/decrease) and give the reasons for this change.

C. Reflecting upon your company’s balance sheet, identify the unearned revenue accounts listed. How does your company handle the proper accounting treatment with regard to recognizing revenue from unearned revenue accounts?

III. Income Taxes A. If Congress voted to eliminate corporate taxes, what would be the effect on your company’s income statement and balance sheet? Defend your

response. B. Calculate the income tax rate for your chosen company. What effect will an increase in income of $2,000,000 have on your company? C. What are the effects on the balance sheet and income statement? Justify your response. D. How much did your company pay in foreign taxes last year? What percentage of its income is United States vs. foreign?

IV. Leases A. What are the differences between operating and capital leases? B. Describe the particular leases of your company based on the liability section of your company’s balance sheet. C. What impact have the leases had on the company’s financial statements for the most recent year? D. Discuss the advantages and disadvantages of leasing a building versus purchasing one.

V. Pensions Address the following elements in the form of a memo to your CEO:

A. From your company’s financial information, what type of pension plan does it have? Discuss the reasons why your company has chosen this particular plan.

B. What was the effect of the pension plan on your company’s financial statements? Defend your response. C. Your CEO has informed you—the controller of your company—that the board of directors has made the decision to look at other options of

types of retirement plans. Investigate what other alternatives would be available, and determine which would be appropriate for your particular company.

VI. Statement of Cash Flows A. From the perspective of an investor, determine whether or not you would invest in your chosen company based on the company’s Statement of

Cash Flows (SoCF). Support your opinion. B. Review the company’s SoCF for any concerns that may need to be addressed. As controller of your company, prepare a memo to your CEO,

giving a summary report for possible recommendations.

A. Generate a projected income statement based on the given scenario. B. Analyze the impact on the income statement based on the given scenario. C. Generate a projected statement of retained earnings based on the given scenario. D. Analyze the impact on the statement of retained earnings based on the given scenario. E. Generate a projected balance sheet based on the given scenario. F. Analyze the impact on the balance sheet based on the given scenario. G. Generate a projected statement of cash flows based on the given scenario. H. Analyze the impact on the statement of cash flows based on the given scenario.

Milestones Milestone One: Stockholders’ Equity and Revenue Recognition In Module Three, you will submit critical elements I and II for review by your instructor. It is important that you incorporate your instructor’s feedback from this milestone into your final submission. This milestone will be graded with the Milestone One Rubric.

Milestone Two: Income Taxes and Pensions

Milestone Three: Leases and S tatement of Cash Flows In Module Seven, you will submit critical elements IV and VI for review by your instructor. It is important that you incorporate your instructor’s feedback from this milestone into your final submission. This milestone will be graded with the Milestone Three Rubric.

Final Submission: Financial Reporting Series Portfolio In Module Nine, you will submit your final project. It should be a complete, polished artifact containing all of the critical elements of the final product, including critical element VII: Report for the CEO. 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

One Stockholders’ Equity and Revenue Recognition Three Graded separately; Milestone One Rubric Two Income Taxes and Pensions Five Graded separately; Milestone Two Rubric

Three Leases and Statement of Cash Flows Seven Graded separately; Milestone Three Rubric

Final Submission: Financial Reporting Series Portfolio

Nine Graded separately; Final Project Rubric

Final Project Rubric Guidelines for Submission: Your portfolio should be 6–10 pages (including spreadsheets, memos, and summary), double-spaced, with one-inch margins, 12- point Times New Roman font, and APA format.

Critical Elements Exemplary Proficient Needs Improvement Not Evident Value

Stockholders’ Equity: Initial Financial Start [ACC-620-01]

Meets “Proficient” criteria and uses concrete examples to substantiate claims (100%)

Determines whether the company obtained its startup financing from debt or equity and supports response (90%)

Determines whether the company obtained its startup financing from debt or equity, but does not support response (70%)

Does not identify how the company obtained its startup financing (0%)

4.8

Stockholders’ Equity: Industry

Average [ACC-620-01]

Meets “Proficient” criteria and uses concrete examples to substantiate claims (100%)

Analyzes the company’s equity section as compared to the industry average and accurately rates the company’s performance against competitors (90%)

Analyzes the company’s equity section as compared to the industry average, but does not accurately rate the company’s performance against competitors (70%)

Does not analyze the company’s equity section (0%)

4.8

Stockholders’ Equity: Dividend

Policy [ACC-620-01]

Meets “Proficient” criteria, and discussion is exceptionally clear and contextualized (100%)

Analyzes the company’s dividend policy and its history to discuss the trends over the past year (90%)

Analyzes the company’s dividend policy and its history, but does not discuss the trends over the past year (70%)

Does not analyze the company’s dividend policy (0%)

4.8

Income Measurement/

Revenue Recognition: IAS-18

[ACC-620-02]

Meets “Proficient” criteria and uses concrete examples to substantiate claims (100%)

Discusses IAS-18’s application to the company (90%)

Discusses IAS-18’s application to the company, but discussion is cursory or lacks detail (70%)

Does not research IAS-18 (0%)

4.8

Income Measurement/

Revenue Recognition:

Revenue [ACC-620-02]

Meets “Proficient” criteria, and rationale is well supported with concrete evidence (100%)

Analyzes the change in revenue and gives the reasons for the change (90%)

Analyzes the change in revenue, but does not give the reasons for the change (70%)

Does not analyze the change in revenue (0%)

4.8

Income Measurement/

Revenue Recognition:

Unearned Revenue [ACC-620-02]

Meets “Proficient” criteria and displays a nuanced understanding of the company’s internal processes (100%)

Identifies unearned revenue accounts listed as well as how the company handles the proper accounting treatment with regard to recognizing rev

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ACC 620 Final Project Guidelines and Rubric Overview According to the AICPA (American Institute of Certified Public Accountan

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