Your Purchase Point Project is being returned for the following reasons: It is not unusual to have the project returned as not graded

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Your Purchase Point Project is being returned for the following reasons:

It is not unusual to have the project returned as not graded.

It is evident that you have done a lot of work, which is good. The feedback is being provided to help you “tweak” what you have done in order to help meet the requirements for the project.

If you are don’t understand something about what needs to be done, then do not hesitate to telephone and speak with me. Students who do call, find it much easier to complete the project because they get a better understanding for what needs to be done as opposed to reading the written word and being unsure due to “interpretation”.

 

Read and apply both the feedback and the comments provided below.

 

The project requires three steps to be presented.

Step 1 – Identify Form and Substance Errors.

Step 2 – Compute the Purchase Point Media (PPMC) break-even points in terms of carts and stores.

Step 3 – Determine the number of grocery stores for various food chains.

In one Word document, provide individual sections for each Step. This Word document along with the Excel file (described below for Step 2) will be uploaded when you click on the Take Exam button on your Student Portal to submit your project (described under the “Submitting Your Assignment” later in the instructions).

 

For Step 1:

Revisit this step for errors.

Here is an example of how you’ll present both the Form and Substance errors.

 

Summary of Form Errors for the PPMC Report

 

1. Location:

The first page of Exhibit 1, the last sentence of the first paragraph states “You should independently investigate and fully understand all risk before making investment decisions.”

Location should be in the form of Page number and/or note number, paragraph number, sentence number and include the sentence or portion thereof so that it is identifiable as to what you are referring to.

 

Error:

The word risk is singular. It should be plural.

An Error is what is wrong with the grammar, spelling, and punctuation or formatting.

 

Correction:

It should have been written “You should independently investigate and fully understand all risks before making investment decisions.”

Instead of having students write or rewrite the entire Exhibit, the correction shows how the Exhibit should have been written. If the correction is not correct, there will be a deduction.

 

 

· For this step, you are looking at it from the perspective of being handed an Exhibit and you are to “proof read” it for English Composition – grammatical, punctuation, spelling - and formatting errors (font size/style, bold text, alignment, etc.). You are not rewriting it based upon how you would write it – your writing style. You are only correcting it. You are not changing the “content” of the Exhibit, only correcting it.

 

 

 

· There are more than 30 Form errors. You have some control over how many of the 30 points you will receive for this step. As an example, if you submit 37 errors and say 13 are incorrect, you will receive 24 points (37 – 13 = 24). If you submit only 30 errors and get 13 incorrect, you will receive 17 points (30 – 13 = 17). The more errors you provide within reason, the better your chances of receiving the 30 points for this step.

 

· When it comes to Form errors, if one sentence, heading, or whatever, has – as an example, three things wrong with it - then that is one Form error and not three. When you make the correction for that sentence, it should be corrected in its entirety.

For example, if a heading should be bold, has the incorrect font and is spelled incorrectly, this should not be shown as three errors. It should be shown as one error with the three corrections in it.

 

 

The heading for the Substance Errors should be “Summary of Substance Errors for the PPMC Report”.

 

· Substance errors are errors with the “math” throughout the tables in the Exhibit.

 

“Substance” refers to the figures and data that are being reported and making sure the math is correct going both across the tables and down the tables. Identify the obvious errors or problems first by focusing on the addition or math errors

 

Do not take this step lightly. The data and figures found in the report are used to calculate the beak-even analysis for Step 2. As presented, the data is incorrect making the break-even analysis incorrect. Therefore, it is important that you find “all” of the substance errors and correct them as these corrected figures will be what you use to make the break-even calculations for Step 2.

 

There are between 3 and 10 Substance Errors. Substance errors are simply doing the math in the tables. It is not interpreting the notes as to what should go in the tables. (You are not provided with the “details” to decide whether the information provided in the notes are correct in order to make up the figures in the tables.) You are only “correcting” the Exhibit and not determining its contents.

 

 

For Step 2:

Recheck your work as the breakeven points for the carts and stores are incorrect.

· Be sure to take into consideration the above Substance Errors that you found.

 

· Pay attention to the comments that are provided on the spreadsheet.

 

· Think about how you are interpreting the information in the notes for the Exhibit.

 

· Make sure the “math” is correct going both across the rows and down the columns and don’t just rely upon formulas in cells.

 

For Step 3:

There should be a table with only three columns in it. It should look exactly like the table in the instructions.

Along with Table 1, a Works Cited page needs to be included for Step 3.

 

Work and/or figures that are not your own need to be cited as part of a paper.

 

 

If…

1) no citations are provided

2) the citations are not properly formatted, or

3) the web address provided does not take the reader to where the figure quoted is to be found,

 

This is “Plagiarism” which is unacceptable at Penn Foster or in the workplace and the project receives a grade of 1.

 

 

 

· There should be 25 individual citations - one citation for each figure. There should not be more than one citation for the number provided.

 

 

· There should be a correctly formatted citation for each figure for the number of stores for the grocery store chain. This is standard for English Composition and should follow APA formatting.

 

If you do not remember how to make a properly formatted APA citation, go to the Purdue OWL (Online Writing Lab) website by doing the following:

1) do a search on the Internet for “Purdue OWL” and go to the homepage

2) in the menu on the left, click on “Research and Citation”

3) from the drop down menu click on “APA Style”

4) then click on “APA Formatting and Style Guide”

5) finally, select “Reference List: Electronic Resources

 

Alternatively, go to Penn Foster’s Writer’s Block (http://pflibrary.pennfoster.edu/writersblockhomepage) or telephone and speak with an English instructor to refresh your memory on how to make a proper citation.

 

· The web address provided for the citation should take the reader directly to the web page where the number of stores can be found.

 

The reader should not have to search for your information. Do not provide a generic web address such as the homepage of a web site unless the actual number of stores is on that web page. Therefore, check your web addresses by making them links and clicking on them to make sure they are working properly and taking the reader the where the correct figure can be found. If when clicking on a link that goes to a page other than where the figure you provided in the table can be found, this is Plagiarism and warrants a grade of 1.

 

Most of the number of stores are not correct. The instructions advised against using web sites such as Yahoo Finance, Marketbeat, Nasdaq, Bloomberg, referenceforbusiness.com, statista.com, Google Finance, InvestSnips, Investopedia, Wikipedia, newspaper articles, etc. when possible. This step requires doing “research” and not just doing a search on the Internet. More research is required.

 

Using your own research skills and abilities, determine the number of grocery stores for each store chain. How you go about doing this is up to you and your research skills.

 

Here is what you are looking for as far as the number of stores is concerned:

 

· You are looking for the most “current” information. However, current does not mean today.

 

For example, if store A (which has 10 stores) took over store B (which had 3 stores) in a merger, then B is no longer in business. The number of stores for A will be 13 as of today because it is still in business. The number of stores for B will be 3 which is how many it had before the merger. That is the most current for B – not zero.

 

As another example, if a store declares bankruptcy, it all depends upon the bankruptcy status. If the store is in Chapter 11, which is reorganization then the number of stores – say – 57 – will be the current information. If the store is in Chapter 13, which is a closing of the business, then the number of stores will be zero.

 

Be aware that the “solution” to the number of stores in the table is kept current – “as of today.” But, that does not mean that data will all be “as of today.” It is possible that the most current information might be 2015 or 2016. It all depends upon your research and what is available. Finding the correct information is the purpose behind doing research.

 

One other thing to watch out for in doing your research is a “name change.” If a store changes its name, then list both the old name and the new name and the current information available for the number of stores.

 

· You should rarely use third party sites as these do not have the most current and accurate information. You should use information from the business web site, SEC filings, Annual Reports, etc… for the most credible, relevant and current information. This is not to say that news articles should not be used. It all depends upon the “relevancy” of the article as to the current situation.

 

 

Reference the Excel spreadsheet for Step 2 in the Word document. No other wording is necessary for this step in the Word document. Include the spreadsheet as a separate file when submitting the project.

 

Please rework and resubmit the project for grading..

 

 

 

 

 

 

 

Purchase Point Media Corporation

Step 1: Summary of Errors in the Substance of the PPMC Report

Organizations should prepare their accounting reports in a flawless way. This is to say that the accounting reports should neither contain material misstatements nor ambiguity during preparation (Deegan, 2013). Unlike in the case of Enron Corporation and WorldCom where the financial statements lacked substance, Purchase Point Media Corporation’s financial statement is not well written.

1. Location:

The second sentence of the induction part of the report states that “This project statement of income contains forward looking statement” (Cataldo, Oehlers & Pelfrey, nd, pg 13).

Error:

The word “Project” (Cataldo, Oehlers & Pelfrey, nd, pg 13) is a typo. It should be “Projected”

Correction:

It should be “The projected statement of net income.” Even so, “Projected statement of net income is not a conventional term in accounting.”

2. Location:

In the third sentence of the introduction part of the report the author wrote “Corporate house” (Cataldo, Oehlers & Pelfrey, nd, pg 13).

Error:

The first word appears to be the organizations name and is capitalized. Yet, the second word is not capitalized and it should as it is part of the name of the organization

Correction:

Corporate House

3. Location:

In the salutation part, the author addresses users or readers as “Dear Sirs.”

Error:

There is nothing like “Dear Sirs” (Cataldo, Oehlers & Pelfrey, nd, pg 13).

Correction: “Dear sir”

4. Location:

In the second paragraph of the letter, the author indicates that “We have made basic assumptions in compiling the information given to us.” (Cataldo, Oehlers & Pelfrey, nd, pg 13).

Error:

The author has failed to mention the assumptions

Correction: He or she should mention the basic assumptions in the report which he or she has failed to do so.

5. Location:

The author, in the second paragraph of the letter, points out that the organization will only start generating revenues once the firm’s patented displays are installed in the 1,200 stores (Cataldo, Oehlers & Pelfrey, nd).

Error:

This is a contravention of accounting concept for revenues.

Correction:

The accounting for revenues concept asks for the recognition of revenues on accrual basis (Khan& Mayes, 2009). 

6. Location:

In the conclusion part of the letter the author writes, “Yours very truly” (Cataldo, Oehlers & Pelfrey, nd, pg 13).

Error:

“Yours very truly” is a wrong statement for conclusion.

Correction:

Yours Sincerely

7. Location:

Note 6 of Purchase Point Media Corporation’s report has a transposition error and a mathematical error.

Error:

Specifically, there is a mathematical error in the total section of the second quarter and a transposition error under the 15 percent commission’s column of the third quarter.

Correction:

The total amount in the second quarter should be 4,770,000 United States dollars rather than 4,777,000 United States dollars. The 15 percent commission figure should be 5,832,000 dollars instead of 5,382,000 dollars

Step 2: Contribution Margin, Net Operating Income and Break Even Points (Refer to the attached spreadsheet)

Step 3:

Step 3:

 

Table 2
Stock Ticker	No. of Stores	Firm Name
KR	2,782 (statista, 2018)	Kroger
ABS	2,328	Albertson’s
SWY	1,694 (Statista, 2018)	Safeway
AD. AS	6,640 (Statista, 2018)	Ahold
SVU	5,899 (Statista, 2018)	SUPERVALU
WINN	495	Winn-Dixie Stores
PUSH	1,200 (Fotune 500)	Publix Super Markets
GAP	320 (Forbes, 2018)	Great Atlantic & Pacific
SFS	323 (Bloomberg, 2018)	Smart & Final
IMKTA. O	201 (Reuters, 2018)	Ingles Markets
BSI	431 (SEC, 2017)	Blue Square-Israel
PTMK	300	Pathmark
RDK	220 (Bloomberg, 2015)	Ruddick
WFM	470 (Statista, 2018)	Whole Foods Market
WMK	204 (Supermarket News)	Weis markets
MARSB	18 (Indianapolis Business Journal, 2017)	Marsh Supermarkets
NAFC	1,500 (Bloomberg, 2018)	Nash Finch
FRSH	70	Fresh Brands
OATS	110	Wild Oats Markets
SPTN	480	Spartan Stores
EGLE	0 went into bankruptcy	Eagle Food Centers
GRI	31	Gristede’s Foods
VLGEA	29 (Bloomberg, 2018)	Village Super Market
FMS	34	Foodarama Supermarkets
ARDNA	17 (Business Wire, 2013)	Arden Group
Total	16,195

 

 

 

References

Cataldo II, A. J., Oehlers, P. F., & Pelfrey, C. S. (nd) Senior Capstone: Business. Retrieved from. https://studydaddy.com/attachment/47798/azzsyhlkpx.pdf

Deegan, C. (2013). Financial accounting theory. Sydney, Australia: McGraw-Hill Education.

Fortune 500. (2018).Publix Supermarkets. Retrieved from. http://fortune.com/fortune500/publix- super-markets/

Khan, A., & Mayes, S. (2009). Transition to accrual accounting. Washington, DC: International Monetary Fund.

Statista. (2018). Number of stores operated by Kroger or its subsidiaries as of February 2018, by category. Retrieved from. https://www.statista.com/statistics/717760/kroger-operation- stores/

Statista. (2018). Safeway's total number of stores worldwide from 2007 to 2013. Retrieved from. https://www.statista.com/statistics/241228/total-number-of-stores-of-safeway/