ACC 308 Milestone One Guidelines and Rubric
Overview: For Milestone One, which is due in Module Three, you will create adjusting entries for various situations, prepare annual financial reports, calculate
ratios, and develop a brief report for management explaining accounting ratios and the effects of interest rates on the future value of money. You will build on
this milestone in subsequent modules leading up to the final project.
Prompt: First, review the Final Project Scenario document and the accompanying Final Project Workbook. Follow the instructions below and complete the
workbook with the information provided in the scenario. Using your review of the scenario, develop a management analysis brief that addresses the critical
elements indicated below. Use information from your accounting workbook to support your claims in the management analysis brief.
Note: Milestone One is a draft of some critical elements of the final project. Note that the management analysis brief corresponds to the management analysis
memo in the final project.
Specifically, the following critical elements must be addressed:
I. Accounting Workbook: Your accounting workbook must include appropriate calculations, ratios, and notes:
A. Create adjusting entries for financial statement preparation.
B. Create an adjusted trial balance for financial statement preparation.
C. Prepare financial statements for determining the company’s financial position.
D. Calculate ratios for determining the company’s financial health. Refer to the Final Project Scenario for the ratio formulas.
II. Management Analysis Brief: Your management analysis brief should explain financial information to management. Provide evidence from your
accounting workbook to support your ideas when applicable.
A. Assess the company’s financial health based on ratio analyses presented in the accounting workbook.
B. Compare ratio analysis to trends in financial ratios over time for illustrating their impact, providing examples to support your claims.
C. Summarize the effects of different compounding periods and interest rates on future value of money.
D. Explain how alignment to relevant regulations and ethical reporting influenced your accounting practices and notes, providing examples to
support your claims.
Rubric
Guidelines for Submission: You will submit two files for this milestone. Your accounting workbook must be submitted as a Microsoft Excel document. Your
management analysis brief should be a 1- to 2-page Microsoft Word document with double spacing, 12-point Times New Roman font, and one-inch margins.
Critical Elements Proficient (100%) Needs Improvement (75%) Not Evident (0%) Value
Accounting Workbook:
Adjusting Entries
Creates adjusting entries for financial
statements preparation
Creates adjusting entries, but entries
are inaccurate
Does not create adjusting entries 12
Critical Elements Proficient (100%) Needs Improvement (75%) Not Evident (0%) Value
Accounting Workbook:
Adjusted Trial Balance
Creates an adjusted trial balance for
financial statement preparation
Creates an adjusted trial balance, but
balances are inaccurate
Does not create an adjusted trial
balance
12
Accounting Workbook:
Financial Statements
Prepares financial statements for
determining the company’s financial
position
Prepares financial statements, but
calculations are inaccurate
Does not prepare financial statements 12
Accounting Workbook:
Ratios
Calculates ratios for determining the
company’s financial health
Calculates ratios but calculations are
inaccurate
Does not calculate ratios 12
Management Analysis Brief:
Company’s Financial Health
Assesses the company’s financial health
based on ratio analyses presented in the
accounting workbook
Assesses the company’s financial health,
but assessment is cursory or contains
inaccuracies
Does not assess the company’s financial
health
12
Management Analysis Brief:
Ratio Analysis and Ratios
Over Time
Compares ratio analysis to trends in
financial ratios over time for illustrating
their impact, providing examples to
support claims
Compares ratio analysis to trends over
time for illustrating their impact, but
examples are cursory, or response
contains inaccuracies
Does not compare ratio analysis to
trends in financial ratios over time
12
Management Analysis Brief:
Compounding Periods and
Interest Rates
Summarizes the effects of different
compounding periods and interest rates
on future value of money
Summarizes the effects of different
compounding periods and interest rates
on future value of money, but summary
is cursory or contains inaccuracies
Does not summarize the effects of
different compounding periods and
interest rates on future value of money
12
Management Analysis Brief:
Regulations and Ethical
Reporting
Explains how alignment to relevant
regulations and ethical reporting
influenced accounting practices and
notes, and provides examples to
support claims
Explains how alignment to relevant
regulations and ethical reporting
influenced accounting practices and
notes, but explanation or examples are
cursory or illogical
Does not explain how alignment to
relevant regulations and ethical
reporting influenced accounting
practices and notes
12
Articulation of Response Submission has no major errors related
to citations, grammar, spelling, syntax,
or organization
Submission has major errors related to
citations, grammar, spelling, syntax, or
organization that negatively impact
readability and articulation of main
ideas
Submission has critical errors related to
citations, grammar, spelling, syntax, or
organization that prevent understanding
of ideas
4
Total 100%
