ACC 202 Closing Undertaking Pointers and Rubric
Overview Profitable entrepreneurs perceive all elements of enterprise, particularly prices and costing programs. Managerial accounting gives a framework for strategic evaluation and planning with regard to value behaviors and costing programs. On this last mission, you have got the chance to behave as an entrepreneur and apply managerial accounting rules to guage and handle prices associated to your merchandise inside a costing system. Moreover, you’ll show your capability to speak your findings successfully to inner stakeholders, simply as an precise enterprise proprietor would wish to do.
Particularly, you’ll assume the position of the proprietor of a hypothetical small enterprise. In your milestone work, you’ll develop monetary methods previous to opening your enterprise. For the ultimate submission, you’ll create a presentation on your traders after your enterprise has been in operation for a sure time period. You’ll use the supplied situations to finish your mission. The mission is split into three milestones, which might be submitted at numerous factors all through the course to scaffold studying and guarantee high quality last submissions. These milestones might be submitted in Modules Two, 4, and 5. The ultimate product might be submitted in Module Seven.
On this project, you’ll show your mastery of the next course outcomes:
ACC-202-01: Apply basic costing programs to optimize operations inside a enterprise ACC-202-02: Assess monetary efficiency to speak monetary planning methods to inner stakeholders ACC-202-03: Leverage basic managerial accounting strategies to assist the mission of a corporation
Immediate In an in depth PowerPoint presentation (12 to 15 slides in size, plus speaker notes and an addendum), clarify and defend your costing methods (i.e., the marketing strategy created in your first and second milestones) and share your enterprise’s efficiency to-date (i.e., the work out of your third milestone). Make sure to successfully talk to your stakeholders by breaking down ideas and utilizing investor-friendly language to construct their belief and confidence.
Particularly, the next important parts should be addressed. Many of the important parts align with a specific course consequence (proven in brackets).
I. Introduce your presentation A. Define your organization’s profile, together with its title, location, and mission and imaginative and prescient. B. Clarify on your traders the aim of the presentation. What do you propose to speak, and why ought to your traders listen? In different phrases, attempt to persuade your traders that the accounting data you’re about to share is essential. [ACC-202-03] C. Clarify and defend your strategies for producing the knowledge that you’re about to share when it comes to your adherence to trade requirements and the AICPA code of ethics. In different phrases, why ought to your traders belief that you’re delivering correct monetary information and that your decision-making course of has been moral? [ACC-202-03]
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D. Particularly, you should definitely illustrate how your managerial accounting strategies assist the mission of your group, utilizing examples. [ACC-20203]
II. Monetary Technique: Evaluation your unique marketing strategy and costing methods utilizing the prior-to-opening state of affairs data. A. Justify your use of job order costing. Make sure to examine and distinction the varied costing programs you realized about on this course as a part of your protection. [ACC-202-01] B. Clarify and defend the promoting costs that you just established for grooming, day care, and boarding. Make sure to reference your cost-volume-profit evaluation in your protection. [ACC-202-02] C. Clarify and defend your chosen goal earnings for every space of your enterprise. Make sure to reference your cost-volume-profit evaluation in your protection. [ACC-202-02] D. Clarify and defend your contribution margin per unit and contribution margin ratio. Make sure to reference your cost-volume-profit evaluation in your protection. [ACC-202-02]
III. Monetary Statements: Assess your monetary efficiency to-date utilizing the post-opening state of affairs data. A. Monetary Statements 1. Share the assertion of value of companies and logically interpret the enterprise’s efficiency in opposition to the supplied benchmarks. [ACC-20202] 2. Share the earnings assertion and logically interpret the enterprise’s efficiency in opposition to the supplied benchmarks. [ACC-202-02] B. Variance Evaluation 1. Determine all variances for the direct labor time and the supplies worth. [ACC-202-02] 2. Consider the importance of the variances when it comes to the potential to affect future budgeting choices and planning. [ACC-202-02]
IV. In an addendum, submit your accomplished workbook, together with the next: A. Precisely classify your whole prices within the “Price Classification” tab. [ACC-202-01] B. Conduct a cost-volume revenue evaluation: 1. Decide your contribution margin per unit and contribution margin ratio within the “Contribution Margin Evaluation” tab. [ACC-202-01] 2. Decide your break-even factors for attaining your goal earnings within the “Break-even evaluation” tab. [ACC-202-01]
Milestones
Milestone One: First A part of Workbook In Module Two, you’ll submit the “Price Classifications” and “Variable_Fixed” tabs in your supplied last mission workbook. This milestone might be graded with the Milestone One Rubric.
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Milestone Two: Second A part of Workbook In Module 4, you’ll submit the “Contribution Margin Evaluation” and “Break-even Evaluation” tabs in your supplied last mission workbook. This milestone might be graded with the Milestone Two Rubric.
Milestone Three: Closing Workbook In Module 5, you’ll submit “COS Schedule,” “Revenue Assertion,” and “Variances” tabs in your supplied last mission workbook. This milestone might be graded with the Milestone Three Rubric.
Closing Submission: Presentation to Buyers In Module Seven, you’ll submit your last mission. It ought to be a whole, polished artifact containing the entire important parts of the ultimate immediate. It ought to replicate the incorporation of suggestions gained all through the course. This submission might be graded with the Closing Undertaking Rubric.
Deliverables Milestone Deliverable Module Due Grading
One Price Classification Tabs Two Graded individually; Milestone One Rubric
Two Monetary Scope of the Enterprise Plan 4 Graded individually; Milestone Two Rubric
Three Draft Presentation to Buyers 5 Graded individually; Milestone Three Rubric
Closing Submission: Presentation to Buyers Seven Graded individually; Closing Undertaking Rubric
Closing Undertaking Rubric Pointers for Submission: Your PowerPoint presentation to traders should be at the least 12–15 slides plus speaker notes, and all citations ought to observe APA formatting. As well as, submit accomplished Excel workbook.
Crucial Parts Exemplary Proficient Wants Enchancment Not Evident Worth Introduce: Firm’s Profile Meets “Proficient” standards and judiciously consists of particulars related to the audience of the presentation (100%) Outlines the corporate’s profile, together with its title, location, and mission and imaginative and prescient (85%) Outlines the corporate’s profile however fails to incorporate its title, location, and mission and imaginative and prescient (55%) Doesn’t define the corporate’s profile (zero%) three
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Introduce: Objective [ACC-202-03]
Meets “Proficient” standards and demonstrates nuanced appreciation for the position of managerial accounting in ethically supporting the mission of a corporation (100%)
Explains the aim of the presentation, together with a persuasive case for the significance of the accounting data to be shared (85%)
Explains the aim of the presentation, however fails to completely or persuasively make a case for the significance of the accounting data (55%)
Doesn’t clarify the aim of the presentation (zero%)
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Introduce: Defend of Strategies [ACC-202-03]
Meets “Proficient” standards and demonstrates nuanced appreciation for the position of managerial accounting in ethically supporting the mission of a corporation (100%)
Explains and defends the strategies for producing the knowledge within the presentation when it comes to their adherence to trade requirements and the AICPA code of ethics (85%)
Explains the strategies for producing the knowledge within the presentation, however fails to completely defend the strategies when it comes to their adherence to trade requirements and the AICPA code of ethics (55%)
Doesn’t clarify the strategies for producing the knowledge within the presentation (zero%)
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Introduce: Assist the Mission [ACC-202-03]
Meets “Proficient” standards and demonstrates nuanced appreciation for the position of managerial accounting in ethically supporting the mission of a corporation (100%)
Illustrates how the managerial accounting strategies assist the mission of the group utilizing particular examples (85%)
Discusses how the managerial accounting strategies assist the mission of the group, however fails to completely or precisely illustrate utilizing particular examples (55%)
Doesn’t focus on illustrate how the managerial accounting strategies assist the mission of the group (zero%)
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Monetary Technique: Costing Methods [ACC-202-01]
Meets “Proficient” standards and demonstrates eager perception into key value behaviors and value programs (100%)
Justifies the usage of job order costing by evaluating and contrasting the varied costing programs lined within the course (85%)
Discusses the usage of job order costing however fails to completely or precisely justify its use by evaluating and contrasting the varied costing programs lined within the course (55%)
Doesn’t focus on the usage of job order costing (zero%)
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Monetary Technique: Promoting Costs [ACC-202-02]
Meets “Proficient” standards and demonstrates strategic capability to suggest costing options supported by the monetary information (100%)
Explains and defends the promoting costs for grooming, day care, and boarding by citing monetary information from the cost-volumeprofit evaluation (85%)
Explains the promoting costs for grooming, day care, and boarding, however fails to completely or precisely defend every worth by citing monetary information from the cost-volume-profit evaluation (55%)
Doesn’t clarify the promoting costs for grooming, day care, and boarding (zero%)
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Monetary Technique: Goal Income [ACC-202-02]
Meets “Proficient” standards and demonstrates strategic capability to suggest costing options supported by the monetary information (100%)
Explains and defends the goal earnings for every space of the enterprise by citing monetary information from the cost-volume-profit evaluation (85%)
Explains the goal earnings for every space of the enterprise, however fails to completely or precisely defend every one by citing monetary information from the costvolume-profit evaluation (55%)
Doesn’t clarify the goal earnings for every space of the enterprise (zero%)
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Monetary Technique: Contribution Margin [ACC-202-02]
Meets “Proficient” standards and demonstrates strategic capability to suggest costing options supported by the monetary information (100%)
Explains and defends the contribution margin per unit and contribution margin ratio by citing monetary information from the cost-volume-profit evaluation (85%)
Explains the contribution margin per unit and contribution margin ratio, however fails to completely or precisely defend every by citing monetary information from the cost-volumeprofit evaluation (55%)
Doesn’t clarify the contribution margin per unit and contribution margin ratio (zero%)
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Monetary Statements: Assertion of Price of Providers [ACC-202-02]
Meets “Proficient” standards and demonstrates subtle capability to guage important efficiency measures for strategic planning (100%)
Shares the assertion of value of companies and logically interprets the enterprise’s efficiency in opposition to the supplied benchmarks (85%)
Shares the assertion of value of companies, however there are inaccuracies within the assertion, or the interpretation has gaps in logic or fails to deal with the supplied benchmarks (55%)
Doesn’t share the assertion of value of companies (zero%)
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Monetary Statements: Revenue Assertion [ACC-202-02]
Meets “Proficient” standards and demonstrates subtle capability to guage important efficiency measures for strategic planning (100%)
Shares the earnings assertion and logically interprets the enterprise’ efficiency in opposition to the supplied benchmarks (85%)
Shares the earnings assertion, however there are inaccuracies within the assertion or the interpretation has gaps in logic or fails to deal with the supplied benchmarks (55%)
Doesn’t share the earnings assertion (zero%)
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Variance Evaluation: Determine [ACC-202-02]
Meets “Proficient” standards and demonstrates subtle capability to guage important efficiency measures for strategic planning (100%)
Precisely identifies all variances for the direct labor time and the supplies worth (85%)
Identifies variances for the direct labor time and the supplies worth, however fails to completely or precisely determine every (55%)
Doesn’t determine variances for the direct labor time and the supplies worth (zero%)
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Variance Evaluation: Significance of the Variance [ACC-202-02]
Meets “Proficient” standards and demonstrates subtle capability to guage important efficiency measures for strategic planning (100%)
Evaluates the importance of the variances when it comes to their potential to affect future budgeting choices and planning (85%)
Evaluates the importance of the variances, however fails to completely or precisely determine their potential to affect future budgeting choices and planning (55%)
Doesn’t consider the importance of the variances (zero%)
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Addendum: Classify Prices [ACC-202-01]
Precisely classifies all prices within the “Price Classification” tab of the workbook (100%)
Classifies prices within the “Price Classification” tab, however fails to completely or precisely classify every (55%)
Doesn’t classify prices within the “Price Classification” tab of the workbook (zero%)
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Addendum: Contribution Margin [ACC-202-01]
Determines the contribution margin per unit and contribution margin ratio within the “Contribution Margin Evaluation” tab of the workbook (100%)
Determines the contribution margin per unit and contribution margin ratio within the “Contribution Margin Evaluation” tab of the workbook, however fails to completely or precisely full the evaluation (55%)
Doesn’t decide the contribution margin per unit and contribution margin ratio within the “Contribution Margin Evaluation” tab of the workbook (zero%)
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Addendum: BreakEven Factors [ACC-202-01]
Determines the break-even factors for attaining the goal earnings within the “Break-even evaluation” tab of the workbook (100%)
Determines the break-even factors for attaining the goal earnings within the “Break-even evaluation” tab of the workbook, however fails to completely or precisely full the evaluation (55%)
Doesn’t decide the breakeven factors for attaining the goal earnings within the “Breakeven evaluation” tab of the workbook (zero%)
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Efficient Enterprise Communication [ACC-202-02]
Meets “Proficient” standards and demonstrates subtle capability to successfully talk to inner stakeholders (100%)
Most important concepts are clearly communicated and references are correctly cited all through the presentation (85%)
There are minor points with the communication of concepts or use of citations that negatively affect the effectiveness of the presentation (55%)
There are important errors within the communication of concepts that negatively affect primary comprehension of the presentation (zero%)
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Complete 100%
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Appendix
Situation: Previous to Opening, Half I: You intend to open a pet-services enterprise that can provide canine grooming, day care, and boarding. You might be inventive in deciding the title of your enterprise (e.g., “Inspiring Canine Care”), its geographical location (e.g., Chicago), and its mission and imaginative and prescient for including worth to the neighborhood. You may be requested to make selections for just a few different particulars to customise your case; in any other case, it is best to use the knowledge under.
There are 12 kennels (single canine solely) and the day care space can home 10 giant canine and 12 small canine every day. The grooming facility is 200 sq. ft, the boarding facility is 2,500 sq. ft, and the day care is 1,500 sq. ft. Your groomer can groom 5 canine a day for 5 days every week; every groom consists of 1.5 labor hours. You additionally provide canine day care six days every week, and kenneling on daily basis. You could have taken out a mortgage for start-up prices and the month-to-month fee is $420; it goes into impact instantly and ought to be accounted for in your prices. With restricted money contribution and mortgage funding, you positioned two angel traders. You’ll gather a modest draw for the primary 12 months of $600 a month; keep in mind to divide evenly among the many companies.
Notice: For simplicity, base all calculations utilizing 30 days in every month.
You estimate the next staffing wants:
A groomer who might be paid $12/hour and work 40 hours every week A day care attendant who might be paid $9/hour and can work 22 eight-hour days per thirty days A receptionist who might be paid $eight.50/hour and work 30 hours every week A kennel attendant who might be paid $11.50/hour and can work 22 eight-hour days per thirty days
An entire listing of extra prices is supplied under:
Meals and water bowls: $three.59/unit o Daycare: Two bowls final for each 75 canine that attend daycare. o Boarding: Two bowls final for each 100 canine which might be boarded; you want two bowls per kennel. o Grooming: Every bowl lasts for 20 grooms and also you want 4 bowls always. Fencing for daycare space: $1,249; set up of fencing: $1,000 Canine grooming arm: $300 12 kennels: $9,500; depreciation is $80/month Hire: $650/month; allocate based mostly on sq. footage Utilities/insurance coverage: $600/month; allocate based mostly on sq. footage Grooming desk: $900 Grooming tub: $2800
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Heating system: $10,000; depreciation is $83/month; allocate based mostly on sq. footage Clippers: $136.99; can be utilized for 100 grooms Shampoo: $103.96 per five-gallon pail, which can be utilized for 100 grooms Cage financial institution: $2200 per set of 5 Salon Tuff Capri cell carry cart: $90 Towels: $34.99 per 12 pack o Day care: It’s good to have 12 towels for each 25 canine. o Boarding: It’s good to have 12 towels for each 40 canine. o Grooming: It’s good to have two towels for each groom per day. Scissors: (1) 7-inch straight is $194.99, and (1) ear-and-nose is $7.49; every can be utilized for 200 grooms. Toys: $three.29 per 6-pack; one toy will final for 2 canine in day care, per day. Cleansing merchandise: o Odoban: $14.55/gallon: Every space will dilute 1 ozto 1 gallon of water; allocate based mostly on sq. footage. o Easy Inexperienced: $15.66/gallon: every space will dilute 1 ozto 1 gallon of water; allocate based mostly on sq. footage. Dryer: $1250 Rubberized flooring for day care: $3800
Situation: Previous to Opening, Half II: Your market analysis indicated the next worth ranges as optimum on your space:
Canine Day Care o With pricing at $18 per canine per day, you’ll be able to anticipate to have 22 canine per day. o With pricing at $20 per canine per day, you’ll be able to anticipate to have 15 canine per day. o With pricing at $25 per canine per day, you’ll be able to anticipate to have 10 canine per day.
In a single day Boarding o With pricing at $25 per canine per day, you’ll be able to anticipate to have 12 canine per day. o With pricing at $28 per canine per day, you’ll be able to anticipate to have 10 canine per day. o With pricing at $30 per canine per day, you’ll be able to anticipate to have 7 canine per day.
Primary Groom o With pricing at $25 per groom, you’ll be able to anticipate to do 5 grooms per day. o With pricing at $30 per groom, you’ll be able to anticipate to do four grooms per day. o With pricing at $35 per groom, you’ll be able to anticipate to do three grooms per day.
Moreover, it’s worthwhile to examine your break-even factors for the next goal earnings for every space of your enterprise:
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Day Care o Break-even o $417 goal revenue every month o $667 goal revenue every month
Boarding o Break-even o $583 goal revenue every month o $909 goal revenue every month
Grooming o Break-even o $1,000 goal revenue every month o $1,500 goal revenue every month
Publish-opening Situation: Your angel traders are silent in relation to the enterprise; nonetheless, they require board conferences for standing updates on the corporate’s monetary well being. Subsequently, it’s worthwhile to analyze your organization’s efficiency during the last month utilizing the information supplied under.
Notice: Your teacher will create an announcement sharing the earnings assertion information by the top of Module 4. The entire information you want for the cost-ofgoods-manufactured assertion might be discovered within the “COS Schedule” tab of your workbook.
In your variance evaluation, use the next monetary information:
Direct Supplies/Labor Authentic Projection Precise
Shampoo 1000 ounces ($2/groom) 1200 ounces ($three/groom)
Grooming Labor 1.5 hrs/groom @ $12 2.25 hrs/groom @ $11.50
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