9-1 Final Project Submission: White Paper Hide Assignment InformationTurnitinThis assignment will be submitted to Turnitin.InstructionsFor your final project submission, you will submit the following:A complete written report, including Section II: Nonprofit and Governmental, that incorporates the feedback gained throughout the courseAccompanying spreadsheetsTo complete this assignment, review the Final Project Guidelines and Rubric document.
9-1 Final Project Submission: White Paper Hide Assignment InformationTurnitinThis assignment will be submitted to Turnitin. Instructions For your final project submission, you will submit the followin
Running Head: BANKRUPTCY 0 Bankruptcy Name Southern New Hampshire University November 14, 2019 Differentiate between various forms of bankruptcy and restructuring that the firm should understand. Summarize the key points of interest if the firm fell on hard times and had to file voluntary bankruptcy. What ethical implications should be considered when debating whether or not to file bankruptcy? The way by which a company may go out of business or recover from a huge debt is governed by the federal bankruptcy laws. In chapter 7 of the bankruptcy code, the company may choose to stop all its business operations and go out of business, or, the company may choose to use the chapter 11 of the Bankruptcy code to restructure itself and go back to normal business operations. By using the chapter 7 of the bankruptcy code which involves stopping all the company’s business operations, the company goes into what is referred to as voluntary bankruptcy. Voluntary bankruptcy involves the company filing a petition to the court to declare the company bankrupt as the company is able to accomplish its debt obligations to the creditors. However, the petition to declare the company bankrupt may rejected by the court upon establishing that the actions of this petition may have a detrimental on the creditors. Upon qualifying for voluntary bankruptcy, the company, which is the debtor, is relieved from the debts owed to creditors and any actions by the creditors against the debtor are stopped. Certain ethical implications should be considered while debating on whether to file a bankruptcy or not. Running an insolvent company which is continually taking debts from creditors is unethical. The actions is unethical as it will lead to wastage of finances from the creditors’ side as the company cannot meet its debt obligation. Therefore, the ethical implication that should be considered before filing for bankruptcy are based on what is good for both the interest of the company and the its stakeholders. Upon establishing that the continual existence of the company will lead to more losses which means that the interests of creditors together with other stakeholders are at stake, it is ethical to file for bankruptcy. Identify the key areas of concern if the firm fell on hard times and their creditors forced them into bankruptcy. What defenses are available in this situation? When companies are experiencing hard times, creditors may force them into bankruptcy regardless of their consent. However, certain aspects must be met to force a company into an involuntary bankruptcy. Section 303 of the bankruptcy code identifies the major requirements that need to be followed to allow for an involuntary bankruptcy. One of these requirements is the minimum number of creditors that are needed to force a company into an involuntary bankruptcy. In the situation where a company, the debtor, has less than 12 creditors the minimum number of creditors needed to file for an involuntary bankruptcy is one. On the other end, for companies with more than 12 creditors, the minimum number of creditors needed to file an involuntary bankruptcy are 3 creditors. Also, the debtor company must not be in a position to pay debts as they fall due (Eisenbach, 2012). Also, for a company to go into involuntary bankruptcy, the company must be aware of the debts owed to creditors and must not be questioning the validity of the debts owed. 3. Illustrate hypothetical calculations that would be done to help creditors understand how much money they might receive if the company were to liquidate. Ensure all information is entered accurately. Please refer to the illustration (Exhibit 13.2) on page 592 from your textbook to view potential calculations. Refer to excel spreadsheet. Reference Eisenbach, B. (2012). Forced Into Bankruptcy: The Involuntary Bankruptcy Process. Retrieved November 14, 2019, from https://bankruptcy.cooley.com/2012/05/articles/business-bankruptcy-issues/forced-into-bankruptcy-the-involuntary-bankruptcy-process/.
9-1 Final Project Submission: White Paper Hide Assignment InformationTurnitinThis assignment will be submitted to Turnitin. Instructions For your final project submission, you will submit the followin
Running Head: ACCOUNTING: FUNCIONAL CURRENCY 0 Accounting: Functional Currency Name Southern New Hampshire University December 10, 2019 Accounting: Functional Currency 1. To prompt transparency within an organization through financial reporting, the submission and availability of financial statements are critical. For companies that are performing at the international market, it is essential to provide the segment information as it crucial in influencing perceptions of the stakeholders in the market environment. Besides, the provision of financial information helps users to comprehensively deliberate on market performance and earning the capacity to foster their market position. In reference to the rate of exchange, it is a vital element that affects the business transactions of multinational companies. The implication of forex rates is significant to the financial performance of a company. Also, fluctuations in exchange rates can be a result of the lack of fixed demand and supply of foreign currency in the foreign exchange market. Considering that multinationals’ financial performance is largely dependent on the dynamics of the foreign exchange market. There is extensive fluctuation implication on the financial statement and performance (Hoyle, Schaefer, & Doupnik, 2015). Organizations operating in the foreign market ought to account for the results of their operations in reference to the functional currency following the guidelines of financial reporting. Following this premise, the fluctuation of exchange rates has great implications for financial statement developments. Once the results of financial statements are provided, it illustrates a typical average rate of exchange rates. Researches posit that remarkable fluctuation in the foreign exchange market rates can lead to intense implications on organizations’ fiscal performance and profitability (Corgel, Lane & Walls, 2013). The unpredictable implications on the fluctuation of foreign exchange could prompt either positive or negative effects on multinational companies. However, it is dependent on the currency that a transaction will be undertaken and designation on the direction which exchange rates take. Methods for Translating Financial Statements The organization performing on the international market and influenced by the dynamics of foreign exchange rates need to employ appropriate methods of translating financial statements. It is an important practice that allows reporting on foreign financial operations, especially in cases of transacting with different foreign currencies (Rambo, Main, & McQuilkin, 2019). Working in an international market, it is essential to accord the appropriate accounting standards to ensure consistency in the methodology for translating financial statements with the full intent of prompting timely and accurate financial reporting to ascertain precision and transparency in consideration of the prevailing economic situations. The current rate method refers to the exposition of equitable items with the exclusion of reserved financial earnings. Primarily, functional currency defines the currency of transaction in consideration of the market environment that a company is operating. The other applicable method is the temporal method, which involves the translation of income statements and balance sheets. 3. For a comprehensive definition demonstration of the translation process, the discussion provides hypothetical examples in reference to the methods mentioned above of financial statement translation. The hypothetical demonstration for “Current Rate” and “Temporal Method” are described in a spreadsheet attachment. To illustrate the Temporal Method, let’s consider a New York subsidiary company operating in the global market that accepts dollars as the currency of the transaction. On the other hand, Current Rate methods can be hypothesized using the example of referring to the UK subsidiary company using the pounds. In this case, the assets and liabilities are influenced by the present “spot” rate of exchange in the prevailing market and the recorded date during the translation process. References Corgel, J. B., Lane, J., & Walls, A. (2013). How currency exchange rates affect the demand for U. S. hotel rooms [Electronic version]. Retrieved from Cornell University School of Hotel Administration http://scholarship.sha.cornell.edu/articles/651 Hoyle, J. B., Schaefer, T., & Doupnik, T. (2015). Advanced accounting. McGraw Hill. Rambo, R., Main, D., & McQuilkin, J. (2019). Hedging Recognized Foreign Currency Denominated Receivables or Payables. The Accounting Educators’ Journal, 28.
9-1 Final Project Submission: White Paper Hide Assignment InformationTurnitinThis assignment will be submitted to Turnitin. Instructions For your final project submission, you will submit the followin
Running Head: ACCOUNTING: FUNCIONAL CURRENCY 0 Accounting: Functional Currency Name Southern New Hampshire University December 10, 2019 Accounting: Functional Currency 1. To prompt transparency within an organization through financial reporting, the submission and availability of financial statements are critical. For companies that are performing at the international market, it is essential to provide the segment information as it crucial in influencing perceptions of the stakeholders in the market environment. Besides, the provision of financial information helps users to comprehensively deliberate on market performance and earning the capacity to foster their market position. In reference to the rate of exchange, it is a vital element that affects the business transactions of multinational companies. The implication of forex rates is significant to the financial performance of a company. Also, fluctuations in exchange rates can be a result of the lack of fixed demand and supply of foreign currency in the foreign exchange market. Considering that multinationals’ financial performance is largely dependent on the dynamics of the foreign exchange market. There is extensive fluctuation implication on the financial statement and performance (Hoyle, Schaefer, & Doupnik, 2015). Organizations operating in the foreign market ought to account for the results of their operations in reference to the functional currency following the guidelines of financial reporting. Following this premise, the fluctuation of exchange rates has great implications for financial statement developments. Once the results of financial statements are provided, it illustrates a typical average rate of exchange rates. Researches posit that remarkable fluctuation in the foreign exchange market rates can lead to intense implications on organizations’ fiscal performance and profitability (Corgel, Lane & Walls, 2013). The unpredictable implications on the fluctuation of foreign exchange could prompt either positive or negative effects on multinational companies. However, it is dependent on the currency that a transaction will be undertaken and designation on the direction which exchange rates take. Methods for Translating Financial Statements The organization performing on the international market and influenced by the dynamics of foreign exchange rates need to employ appropriate methods of translating financial statements. It is an important practice that allows reporting on foreign financial operations, especially in cases of transacting with different foreign currencies (Rambo, Main, & McQuilkin, 2019). Working in an international market, it is essential to accord the appropriate accounting standards to ensure consistency in the methodology for translating financial statements with the full intent of prompting timely and accurate financial reporting to ascertain precision and transparency in consideration of the prevailing economic situations. The current rate method refers to the exposition of equitable items with the exclusion of reserved financial earnings. Primarily, functional currency defines the currency of transaction in consideration of the market environment that a company is operating. The other applicable method is the temporal method, which involves the translation of income statements and balance sheets. 3. For a comprehensive definition demonstration of the translation process, the discussion provides hypothetical examples in reference to the methods mentioned above of financial statement translation. The hypothetical demonstration for “Current Rate” and “Temporal Method” are described in a spreadsheet attachment. To illustrate the Temporal Method, let’s consider a New York subsidiary company operating in the global market that accepts dollars as the currency of the transaction. On the other hand, Current Rate methods can be hypothesized using the example of referring to the UK subsidiary company using the pounds. In this case, the assets and liabilities are influenced by the present “spot” rate of exchange in the prevailing market and the recorded date during the translation process. References Corgel, J. B., Lane, J., & Walls, A. (2013). How currency exchange rates affect the demand for U. S. hotel rooms [Electronic version]. Retrieved from Cornell University School of Hotel Administration http://scholarship.sha.cornell.edu/articles/651 Hoyle, J. B., Schaefer, T., & Doupnik, T. (2015). Advanced accounting. McGraw Hill. Rambo, R., Main, D., & McQuilkin, J. (2019). Hedging Recognized Foreign Currency Denominated Receivables or Payables. The Accounting Educators’ Journal, 28.
9-1 Final Project Submission: White Paper Hide Assignment InformationTurnitinThis assignment will be submitted to Turnitin. Instructions For your final project submission, you will submit the followin
Bankruptcy, Foreign Currencies Transactions, Interim and Segments Reporting and the Nonprofit and the Governmental Accounting White Paper Name Southern New Hampshire University November 26, 2019 1)The Interim requirements for Reporting that the organization has as corporation? Describe guidance which is related to the interim financial statement under the GAAP and the IFRS. According to the accounting tools.com it defines interim reporting as reporting of financial results for any given period which is short as compared to a fiscal year. This is usually very important for any company which has gone public, and comprises of issuing three quarterly financial statements for every year. The statements which are usually issued comprise of the statement of income, cash flow statement and the balance sheet. For the GAAP or IFRS it requires interim reporting, both of this usually give guidance on when the organization has to report on the interim basis. Under the SEC the GAAP and the IFRS usually require interim reporting basing on same principles of accounting which are used in preparing the financial statements annually. For IFRS it usually considers interim reporting periods to be discrete accounting periods while for the GAAP it usually considers the interim periods to be the component for the annual periods. Generate the hypothetical financial statements which illustrate what is in the interim report. You should ensure all information are entered in correct manner For the hypothetical financial statement which is illustrating what is entailed is in the excel sheet which has been attached. Determining of interim report requirements, comparing if they are same under GAAP and IFRS. Provide the example supporting the position you take For GAAP and IFRS the interim reporting is not the same. This can be clearly viewed from the comparison below GAAP IFRS Guidance ASC270 IAS34 Costs allocation in the Interim period For interim is seen as the integral part for annual periods of reporting. Costs which can be found to be of benefit in more than one period could be spread over all the periods. Exemption of income tax, every period reporting is taken to be very important rather than being integral part of the annual periods for reporting. When costs benefits more than a single period, it has to meet definition for the asset at the end of the interim reporting which will be deferred.Moreover,the liability for expenses which have accrued should represent an obligation which is existing in the end of interim period. Provision of Interim Tax The global rate of tax is applied in the recording of the provisions for interim tax. We have got a separate tax rate which is used in each jurisdiction and applied to the interim results. C. Company heard of reporting some of business segments separately in case you opt to incorporate Appraising one of processes which is used to identifying which of the segments will be reported separately. Provide the examples to supporting the response. Main objective of segment reporting is providing information on the different type of business activities where an enterprise engages and different environments of economy where it is operating the segments which meet one or more of the quantitative thresholds that have to be reported in a separate manner. Quantitative threshold comprise of revenue tests, profits or loss tests and as the asset test. How effective the process is in supporting the transparency in the financial reporting? Defend the response. When we got transparency in the financial statements then it indicates that everything is in order, can be understood, and is of clarity and user friendly. Segments reporting provide the information on the different kind of business activities. For analysts and investors together with stakeholders usually require understanding, evaluation and monitoring of the petfomance.It vital to have transparent financial information. Provide the suggestion on improving the process in effort to sustain the transparency. Defend the rationale. In the improvement of the process, companies could provide the segment information which is useful in making good assessment of earning capacity and the financial position for business. In the provision of information the foreign operations instead of foreign sales are vital to ensuring transparency. References U.S. GAAP VS. IFRS: Interim Reporting At-A-Glance. (Dec 2012). Retrieved from http://rsmus.com/pdf/us_gaap_ifrs_interim_reporting.pdf Hoyle,Schaefer,& Doupnik,T.(2015). Advanced Accounting. New York, NY: McGraw- Hill Education. http://www.accountingtools.com/questions-and-answers/what-is-interim-reporting.html
9-1 Final Project Submission: White Paper Hide Assignment InformationTurnitinThis assignment will be submitted to Turnitin. Instructions For your final project submission, you will submit the followin
Running Head: BANKRUPTCY 0 Bankruptcy Name Southern New Hampshire University November 14, 2019 Differentiate between various forms of bankruptcy and restructuring that the firm should understand. Summarize the key points of interest if the firm fell on hard times and had to file voluntary bankruptcy. What ethical implications should be considered when debating whether or not to file bankruptcy? The way by which a company may go out of business or recover from a huge debt is governed by the federal bankruptcy laws. In chapter 7 of the bankruptcy code, the company may choose to stop all its business operations and go out of business, or, the company may choose to use the chapter 11 of the Bankruptcy code to restructure itself and go back to normal business operations. By using the chapter 7 of the bankruptcy code which involves stopping all the company’s business operations, the company goes into what is referred to as voluntary bankruptcy. Voluntary bankruptcy involves the company filing a petition to the court to declare the company bankrupt as the company is able to accomplish its debt obligations to the creditors. However, the petition to declare the company bankrupt may rejected by the court upon establishing that the actions of this petition may have a detrimental on the creditors. Upon qualifying for voluntary bankruptcy, the company, which is the debtor, is relieved from the debts owed to creditors and any actions by the creditors against the debtor are stopped. Certain ethical implications should be considered while debating on whether to file a bankruptcy or not. Running an insolvent company which is continually taking debts from creditors is unethical. The actions is unethical as it will lead to wastage of finances from the creditors’ side as the company cannot meet its debt obligation. Therefore, the ethical implication that should be considered before filing for bankruptcy are based on what is good for both the interest of the company and the its stakeholders. Upon establishing that the continual existence of the company will lead to more losses which means that the interests of creditors together with other stakeholders are at stake, it is ethical to file for bankruptcy. Identify the key areas of concern if the firm fell on hard times and their creditors forced them into bankruptcy. What defenses are available in this situation? When companies are experiencing hard times, creditors may force them into bankruptcy regardless of their consent. However, certain aspects must be met to force a company into an involuntary bankruptcy. Section 303 of the bankruptcy code identifies the major requirements that need to be followed to allow for an involuntary bankruptcy. One of these requirements is the minimum number of creditors that are needed to force a company into an involuntary bankruptcy. In the situation where a company, the debtor, has less than 12 creditors the minimum number of creditors needed to file for an involuntary bankruptcy is one. On the other end, for companies with more than 12 creditors, the minimum number of creditors needed to file an involuntary bankruptcy are 3 creditors. Also, the debtor company must not be in a position to pay debts as they fall due (Eisenbach, 2012). Also, for a company to go into involuntary bankruptcy, the company must be aware of the debts owed to creditors and must not be questioning the validity of the debts owed. 3. Illustrate hypothetical calculations that would be done to help creditors understand how much money they might receive if the company were to liquidate. Ensure all information is entered accurately. Please refer to the illustration (Exhibit 13.2) on page 592 from your textbook to view potential calculations. Refer to excel spreadsheet. Reference Eisenbach, B. (2012). Forced Into Bankruptcy: The Involuntary Bankruptcy Process. Retrieved November 14, 2019, from https://bankruptcy.cooley.com/2012/05/articles/business-bankruptcy-issues/forced-into-bankruptcy-the-involuntary-bankruptcy-process/.
9-1 Final Project Submission: White Paper Hide Assignment InformationTurnitinThis assignment will be submitted to Turnitin. Instructions For your final project submission, you will submit the followin
Running Head: Bankruptcy, Foreign Currencies Transactions, Interim and Segments Reporting and the Nonprofit and the Governmental Accounting 0 Bankruptcy Name Southern New Hampshire University November 14, 2019 Differentiate between various forms of bankruptcy and restructuring that the firm should understand. Summarize the key points of interest if the firm fell on hard times and had to file voluntary bankruptcy. What ethical implications should be considered when debating whether or not to file bankruptcy? The way by which a company may go out of business or recover from a huge debt is governed by the federal bankruptcy laws. In chapter 7 of the bankruptcy code, the company may choose to stop all its business operations and go out of business, or, the company may choose to use the chapter 11 of the Bankruptcy code to restructure itself and go back to normal business operations. By using the chapter 7 of the bankruptcy code which involves stopping all the company’s business operations, the company goes into what is referred to as voluntary bankruptcy. Voluntary bankruptcy involves the company filing a petition to the court to declare the company bankrupt as the company is able to accomplish its debt obligations to the creditors. However, the petition to declare the company bankrupt may rejected by the court upon establishing that the actions of this petition may have a detrimental on the creditors. Upon qualifying for voluntary bankruptcy, the company, which is the debtor, is relieved from the debts owed to creditors and any actions by the creditors against the debtor are stopped. Certain ethical implications should be considered while debating on whether to file a bankruptcy or not. Running an insolvent company which is continually taking debts from creditors is unethical. The actions is unethical as it will lead to wastage of finances from the creditors’ side as the company cannot meet its debt obligation. Therefore, the ethical implication that should be considered before filing for bankruptcy are based on what is good for both the interest of the company and the its stakeholders. Upon establishing that the continual existence of the company will lead to more losses which means that the interests of creditors together with other stakeholders are at stake, it is ethical to file for bankruptcy. Identify the key areas of concern if the firm fell on hard times and their creditors forced them into bankruptcy. What defenses are available in this situation? When companies are experiencing hard times, creditors may force them into bankruptcy regardless of their consent. However, certain aspects must be met to force a company into an involuntary bankruptcy. Section 303 of the bankruptcy code identifies the major requirements that need to be followed to allow for an involuntary bankruptcy. One of these requirements is the minimum number of creditors that are needed to force a company into an involuntary bankruptcy. In the situation where a company, the debtor, has less than 12 creditors the minimum number of creditors needed to file for an involuntary bankruptcy is one. On the other end, for companies with more than 12 creditors, the minimum number of creditors needed to file an involuntary bankruptcy are 3 creditors. Also, the debtor company must not be in a position to pay debts as they fall due (Eisenbach, 2012). Also, for a company to go into involuntary bankruptcy, the company must be aware of the debts owed to creditors and must not be questioning the validity of the debts owed. 3. Illustrate hypothetical calculations that would be done to help creditors understand how much money they might receive if the company were to liquidate. Ensure all information is entered accurately. Please refer to the illustration (Exhibit 13.2) on page 592 from your textbook to view potential calculations. Refer to excel spreadsheet. Reference Eisenbach, B. (2012). Forced Into Bankruptcy: The Involuntary Bankruptcy Process. Retrieved November 14, 2019, from https://bankruptcy.cooley.com/2012/05/articles/business-bankruptcy-issues/forced-into-bankruptcy-the-involuntary-bankruptcy-process/.
9-1 Final Project Submission: White Paper Hide Assignment InformationTurnitinThis assignment will be submitted to Turnitin. Instructions For your final project submission, you will submit the followin
skip to main content Assignments View Feedbacks Feedback for 3-2 Final Project Milestone One: Bankruptcy Submission Feedback Good work. Thank you. Rubric Name: ACC 690 Milestone One Rubric This table lists criteria and criteria group name in the first column. The first row lists level names and includes scores if the rubric uses a numeric scoring method. Criteria Proficient Needs Improvement Not Evident Incorporation: Voluntary Bankruptcy 30 points Summarizes the key points of interest if the company had to file voluntary bankruptcy and discusses the ethical implications that should be considered 21 points Summarizes the key points of interest if the company had to file voluntary bankruptcy, but does not discuss the ethical implications that should be considered, or discussion is cursory or has inaccuracies 0 points Does not summarize the key points of interest if the company had to file voluntary bankruptcy 30 / 30 Criterion Feedback You showed good understanding of the voluntary bankruptcy. Incorporation: Forced Bankruptcy 30 points Identifies the key areas of concern if the company was forced into bankruptcy and the defenses available in this situation 21 points Identifies the key areas of concern if the company was forced into bankruptcy but does not identify defenses available, or identification is cursory or has inaccuracies 0 points Does not identify the key areas of concern if the company was forced into bankruptcy 30 / 30 Criterion Feedback Good and detailed information. Incorporation: Liquidate 30 points Correctly illustrates hypothetical calculations 21 points Illustrates hypothetical calculations but there are inaccuracies 0 points Does not illustrate hypothetical calculations 30 / 30 Criterion Feedback You provided good and reasonable example. Articulation of Response 10 points Submission has no major errors related to citations, grammar, spelling, syntax, or organization 7 points Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas 0 points Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas 10 / 10 Criterion Feedback Your work is well presented and written. Rubric Total Score Total 100 / 100 Overall Score Overall Score Points earned out of 100 The overall submission earned 71 points or more. Final calculation of grades can be found in the gradebook. Points earned out of 100 The overall submission earned 1 points or more. Final calculation of grades can be found in the gradebook. Points earned out of 100 The overall submission earned 0 points or more. Final calculation of grades can be found in the gradebook. Score 60 / 60 – A Feedback Date Nov 17, 2019 8:59 AM Assignment 3-2 Final Project Milestone One: Bankruptcy Submission(s) Submission(s) Turnitin® Similarity Date Submitted 3-2 Final Project Milestone One Partn… (22.59 KB) 41 % Similar 41 % Nov 14, 2019 11:18 PM Calculation.xlsx (9.92 KB) 0 % Similar 0 % ————————————————————————————————————————————————————————————————————————————————————————————————————————————– Feedback for 5-2 Final Project Milestone Two: Interim and Segment Reporting Submission Feedback Thank you Yvonne. Please read the graded rubrics. Rubric Name: ACC 690 Milestone Two Rubric This table lists criteria and criteria group name in the first column. The first row lists level names and includes scores if the rubric uses a numeric scoring method. Criteria Proficient Needs Improvement Not Evident Incorporation: Interim Reporting 15 points Describes the interim reporting requirements the company would have as a corporation and the guidance related to interim financial statements under GAAP and IFRS 10.5 points Describes the interim reporting requirements the company would have as a corporation but does not describe the guidance related to interim financial statements under GAAP and IFRS, or description is cursory or has inaccuracies 0 points Does not describe the interim reporting requirements 15 / 15 Criterion Feedback Nice and reasonable analysis. Incorporation: Financial Statement 15 points Correctly generates a hypothetical financial statement illustrating what the interim reporting entails 10.5 points Generates a hypothetical financial statement illustrating what the interim reporting entails, but there are inaccuracies 0 points Does not generate a hypothetical financial statement 15 / 15 Criterion Feedback Good example. Incorporation: GAAP and IFRS 15 points Determines if the interim reporting requirements are the same under GAAP and IFRS and provides an academic example to support response 10.5 points Determines if the interim reporting requirements are the same under GAAP and IFRS but does not provide an academic example, or example provided does not support response 0 points Does not determine if the interim reporting requirements are the same under GAAP and IFRS 15 / 15 Criterion Feedback You showed understanding of the IFRS and US GAAP. Incorporation: Segments Reported Separately 15 points Appraises one of the processes used to identify which segments would have to be reported separately and provides academic example to support response 10.5 points Appraises one of the processes used to identify which segments would have to be reported separately but does not provide academic example to support response, or appraisal is cursory or has inaccuracies 0 points Does not appraise one of the processes 10.5 / 15 Criterion Feedback Your discussion for this part needed to be more detailed and sufficient. Incorporation: Transparency in Financial Reporting 15 points Evaluates the effectiveness of the process in supporting transparency in financial reporting and academically defends response 10.5 points Evaluates the effectiveness of the process in supporting transparency in financial reporting but does not defend response, or defense is weak or illogical 0 points Does not evaluate the effectiveness of the process in supporting transparency infinancial reporting 10.5 / 15 Criterion Feedback Your discussion for this part needed to be more detailed and sufficient. Incorporation: Suggestions to Improve Transparency 15 points Provides suggestions to improve the process for transparency and academically defends rationale 10.5 points Provides suggestions to improve the process but does not defend rationale, or defense is weak or illogical 0 points Does not provide suggestions to improve the process 10.5 / 15 Criterion Feedback Your discussion for this part needed to be more detailed and sufficient. Articulation of Response 10 points Submission has no major errors related to citations, grammar, spelling, syntax, or organization 7 points Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas 0 points Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas 10 / 10 Criterion Feedback Your work is well presented. Rubric Total Score Total 86.5 / 100 Overall Score Overall Score Points earned out of 100 The overall submission earned 71 points or more. Final calculation of grades can be found in the gradebook. Points earned out of 100 The overall submission earned 1 points or more. Final calculation of grades can be found in the gradebook. Points earned out of 100 The overall submission earned 0 points or more. Final calculation of grades can be found in the gradebook. Score 53.9 / 60 – A- Feedback Date Nov 28, 2019 10:38 AM Assignment 5-2 Final Project Milestone Two: Interim and Segment Reporting Submission(s) Submission(s) Turnitin® Similarity Date Submitted ACC 690 5-2 Final Project Milestone T… (42 KB) 37 % Similar 37 % Nov 26, 2019 11:18 PM ACC 690 Milestone 2 excel grant.xlsx (14.87 KB) 59 % Similar 59 % ————————————————————————————————————————————————————————————————————————————————————————————————————————————– Feedback for 7-2 Final Project Milestone Three: Foreign Currency Transactions and Statements Submission Feedback Nice work Yvonne. Thank you. Rubric Name: ACC 690 Milestone Three Rubric This table lists criteria and criteria group name in the first column. The first row lists level names and includes scores if the rubric uses a numeric scoring method. Criteria Proficient Needs Improvement Not Evident Incorporation: Impact of Foreign Exchange Rates 30 points Summarizes the impact of foreign exchange rates on the financial statements and determines the risks they pose, providing academically supported example 22.5 points Summarizes the impact of foreign exchange rates on the financial statements but does not determine the risks they pose, or summary is cursory, not supported, or has inaccuracies 0 points Does not summarize the impact of foreign exchange rates on the financial statements 30 / 30 Criterion Feedback Good understanding of the effects of the foreign rates. Incorporation: Two Methods to Translate Financial Statements 30 points Describes the two methods used to translate financial statements and how the functional currency plays a role in determining which is used, with academic support 22.5 points Describes the two methods used to translate financial statements but does not describe how the functional currency plays a role in determining which is used, or description is cursory or has inaccuracies 0 points Does not describe the two methods of translation 30 / 30 Criterion Feedback Good examples. Incorporation: Demonstrate the Translation Process 30 points Composes a hypothetical example demonstrating the translation process using the two methods and ensures all information is entered accurately 22.5 points Composes a hypothetical example demonstrating the translation process using the two methods but contains inaccuracies 0 points Does not compose a hypothetical example 30 / 30 Criterion Feedback Good explanation of the translation process. Articulation of Response 10 points Submission has no major errors related to citations, grammar, spelling, syntax, or organization 7.5 points Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas 0 points Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas 10 / 10 Criterion Feedback Your paper is well presented. Rubric Total Score Total 100 / 100 Overall Score Overall Score Points earned out of 100 The overall submission earned 76 points or more. Final calculation of grades can be found in the gradebook. Points earned out of 100 The overall submission earned 1 points or more. Final calculation of grades can be found in the gradebook. Points earned out of 100 The overall submission earned 0 points or more. Final calculation of grades can be found in the gradebook. Score 60 / 60 – A Feedback Date Dec 12, 2019 8:22 AM Assignment 7-2 Final Project Milestone Three: Foreign Currency Transactions and Statements Submission(s) Submission(s) Turnitin® Similarity Date Submitted ACC 690 7-2 Final Project Milestone T… (20.44 KB) 10 % Similar 10 % Dec 10, 2019 12:41 PM ACC 690 milestone 3 spreadsheet.xlsx (10.61 KB) 11 % Similar 11 % Done
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