CMBA 603-S Assignment Project Essay
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
CMBA 603-S Assignment Project Essay
CMBA 603-S Name ___________________________
Test 1 – part 1 (discussion)
Fall 2021
Discussion – Answer the following questions in your own words – do not copy from the book or notes. Answers should be typed. This is an open-book, open-notes test. You may not use the internet or consult with other people, but you may use our textbook and notes from this class. Both parts of the test are due at midnight, Monday, September 27. Upload your files to Canvas.
- (a) Explain the difference between the net and gross methods of recording purchases. (b) Explain the difference between the net and gross methods of recording sales. Include in your answers how to account for discounts taken or not taken under each of the methods. Why might the net method be considered theoretically and/or practically better than the gross method (for purchases and for sales)?
- Discuss “inventory shrinkage” and how it impacts the financial statements.
- Explain each of the following concepts surrounding accrual accounting and tell how they are related: realization principle, matching principle, accruals, deferrals. Why did the accounting profession decide that accrual accounting was superior to cash accounting for meeting the needs of the primary users of financial statements?
- Explain the “cost principle” in relation to accounting for assets (chapter 2). What are the pros and cons of this approach?
- Explain the three parts of the cash flows statement and give two examples of items that would appear in each section.
- Are debits “good” and credits “bad” in relation to a company’s financial health? Explain.
- Explain owners’ equity and its subparts for a private company and for a corporation. Theoretically, what can you learn by examining the owners’ equity section of a corporation?
- Define and differentiate between financial accounting and managerial accounting. Which one is more regulated and why?
- Define “Generally Accepted Accounting Principles (GAAP).” Do all companies have to follow GAAP? Explain.
- What is “double entry accounting” and how did it help with the development of business?
- Are dividends expenses? Why or why not?
- Define “depreciation” and explain its purpose in financial accounting. If a company forgot to record depreciation for a given year, what parts of the financial statements would be incorrect that year and the following year (if uncorrected)?
- Discuss the pros and cons of the periodic method and the perpetual method of accounting for inventory.
- Hypothetically, assume that a company offers its customers terms of 3/10, n/30 for paying bills. What annual rate of interest does this equate to, assuming a 360-day year? Explain your answer and why knowing the annual rate is important for the customers.
- Define and compare special journals and subledgers. How can they improve the accounting system?
- In your opinion, which two measures were most informative in the project using the Home Depot annual report? (You may use the ones you submitted or ones that others submitted). Explain why. Also, discuss facts you learned about Home Depot that helped you understand the company’s current or past operating environment.
RUBRIC
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. GET THIS PROJECT NOW BY CLICKING ON THIS LINK TO PLACE THE ORDER
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