Southern New Hampshire University ACC 309 Milestone One Guidelines and Rubric Overview: For Milestone One, which is due in Module Three, you will develop a portion of the workbook and a brief memo to management explaining the impacts to stockholder equity and the impact of tax structures

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Southern New Hampshire University

ACC 309 Milestone One Guidelines and Rubric

Overview: For Milestone One, which is due in Module Three, you will develop a portion of the workbook and a brief memo to management explaining the impacts to stockholder equity and the impact of tax structures. You will build on this milestone in subsequent modules to create the balance sheet and executive summary portions of your final project.

Prompt: First, review the Final Project Scenario document. Using your review of the scenario, begin your balance sheet and discuss the impacts in your management brief, including impacts on stockholder equity and impacts based on changes to tax structure.

Note: Milestone one is a draft of some of the critical elements of the final project.

Specifically, the following critical elements must be addressed:

I. Workbook

A. Prepare adjusting entries for unrealized loss and tax issues.

II. Management Brief

A. Identify sources of other comprehensive income not included in net income.

B. Explain rationale for the inclusion as comprehensive income (as opposed to net income) of nondisclosure within notes.

C. Evaluate impacts of company goals and finances for their implications on stockholder equity, using financial information to support claims.

D. Evaluate impacts of company goals and finances for their implications on retained earnings per share, using financial information to support claims.

E. Explain the impact of issuing preferred stock or debt for determining changes to equity structures.

F. Assess the impact of changes to current tax structure for articulating changes relevant to the company.

Rubric

Guidelines for Submission: Your balance sheet must be submitted as a Microsoft Excel document, and your management brief should be a 1-page Microsoft Word document with double spacing, 12-pt. Times New Roman font, and one-inch margins.

Critical Elements	Proficient (100%)	Needs Improvement (75%)	Not Evident (0%)	Value
Workbook: Adjusting entries	Prepare adjusting entries for unrealized loss and tax issues	Prepares adjusting entries for unrealized loss and tax issues, but entries contain inaccuracies	Does not prepare adjusting entries for unrealized loss and tax issues	12.5
Management Brief: Other sources of comprehensive income	Identifies sources of other comprehensive income not included in net income	Identifies sources of other comprehensive income not included in net income, but sources identified are cursory or response contains inaccuracies	Does not identify sources of other comprehensive income not included in net income	12.5
Management Brief: Comprehensive Income	Explains rationale for the inclusion as comprehensive income (as opposed to net income) of nondisclosure within notes	Explains rationale for the inclusion as comprehensive income (as opposed to net income) of nondisclosure within notes, but response is cursory or contains inaccuracies	Does not explain rationale for the inclusion as comprehensive income (as opposed to net income) of nondisclosure	12.5
Management Brief: Stockholder equity	Evaluates impacts of company goals and finances for their implications on stockholder equity, using financial information to support claims	Evaluates impacts of company goals and finances for their implications on stockholder equity, but response is cursory or inaccurate or financial information used to support is cursory or illogical	Does not evaluate impacts of company goals and finances for their implications on stockholder equity	12.5
Management Brief: Retained earnings per share	Evaluates impacts of company goals and finances for their implications on retained earnings per share, using financial information to support claims	Evaluates impacts of company goals and finances for their implications on retained earnings per share, but response is cursory or inaccurate or financial information used to support is cursory or illogical	Does not evaluate impacts of company goals and finances for their implications on retained earnings per share	12.5
Management Brief: Preferred stock or debt	Explains the impact of issuing preferred stock or debt for determining changes to equity structures	Explains the impact of issuing preferred stock or debt for determining changes to equity structures, but explanation is cursory or illogical	Does not explain the impact of issuing preferred stock or debt	12.5
Management Brief: Current Tax Structure	Assesses the impact of accounting for income taxes and disclosure issues relevant to the company	Discusses accounting for Income taxes encountered, but explanation of temporary and permanent tax differences is cursory or illogical or contains inaccuracies	Does not assess the impact of changes to current tax structure	12.5
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	12.5
Total				100%