ACC 201 Final Project Part II Guidelines and Rubric
Overview
One of the measures of success in any business is profitability. Managers and business owners must have an understanding of how to assess the profitability of a
company using information about its financial transactions. This is done through the use of accounting.
By working through the accounting cycle, you will understand how money flows through a company. Using this information can help you determine whether an
organization can afford to stay open while employing current practices and what types of changes might be needed to allow the organization to become
profitable if it is currently struggling financially. This process also helps you understand the level of commitment to attention to detail that is required in a
successful business venture.
In this part of the final project, you will use your workbook and course-provided information to provide an overview of Peyton Approved’s accounting system
and general profitability. This will take the form of a bank memo.
This assessment addresses the following course outcomes: Interpret financial statements for informing business decisions
Analyze how core accounting principles support responsible practices throughout the accounting cycle Prompt
Your dog, Peyton, has severe allergies and cannot have the usual store-bought dog treats. You have been making homemade treats for him that are all-natural
and hypoallergenic. Over the past year, you have been making and selling these treats out of your home and have been quite successful. You now have an
opportunity to open your own dog treat bakery. You have decided on a corporate form of business and have named your company Peyton Approved.
During Part I of the final project, you were asked to follow the business transactions for your company for a three-month period from the first step of the
accounting cycle through the reporting process. Now you will use this information to compose a memorandum to the bank detailing the results of operations as
communicated in the financial statements, as supporting documentation for a request for funding to expand Peyton Approved.
Use your completed workbook from Part I to prepare your memo. Be sure to include an overview of the company’s accounting system, a discussion of the
results of operations, and opportunities for the company to improve its profitability. Specifically, the following critical elements must be addressed:
1. Provide an overview of the company’s accounting system. Specifically:
a) What basis of accounting is used? Why is this basis most appropriate? How does it support responsible practices within the company?
b) What strategies is the business using to ensure responsible accounting practices? Why have these strategies been selected?
c) Describe the overall accounting process and internal controls for cash that are in place. For example, when are entries made, how often are
statements produced and reviewed, and why?
2. Analyze the company’s performance based on the accounting information you recorded. Specifically:
a) Analyze the results of operations. What do these results tell a business? For example, what is the company doing well, and what changes might be
needed? Use the information in your workbook to support your answer.
b) What do the financial statements say about the strengths and weaknesses of the company’s financial position? Be sure to discuss the role of ratio
analysis in your response.
c) Is the company going in the right direction? Why or why not? Use the information in your workbook to support your answer.
d) What opportunities can the company explore given its strengths and weaknesses? How would these be beneficial? Support your response with
information from your workbook. Final Project Part II Rubric
Guidelines for Submission: Your memo should be approximately 2–4 pages and should use double spacing, one-inch margins, and 12-point Times New Roman
font. Sources should be cited according to APA style.
Instructor Feedback: This activity uses an integrated rubric in Blackboard. Students can view instructor feedback in the Grade Center. For more information,
review these instructions.
Critical Elements
Accounting System:
Basis Exemplary (100%)
Meets “Proficient” criteria and
demonstrates exceptional
knowledge of different bases of
accounting Accounting System:
Strategies Meets “Proficient” criteria and
demonstrates especially keen
insight into strategies and their
implications for accounting
practices Proficient (85%)
Identifies the basis of accounting
used, why it is most appropriate,
and how it supports responsible
accounting practices Needs Improvement (55%)
Identifies the basis of accounting
used but does not address why
that basis is most appropriate
and how it supports responsible
accounting practice, or response
contains inaccuracies
Identifies strategies being used
Identifies strategies being used
to ensure responsible accounting to ensure responsible accounting
practices, describing why
practices but does not describe
strategies were selected
why strategies were selected Not Evident (0%)
Does not identify the basis of
accounting used Does not identify strategies being
used to ensure responsible
accounting practices Value
16 16 Accounting System:
Internal Controls Meets “Proficient” criteria, and
description is exceptionally clear
and contextualized Performance:
Operations Meets “Proficient” criteria and
uses concrete examples to
substantiate claims Performance:
Strengths and
Weaknesses Meets “Proficient” criteria, and
description is exceptionally clear
and contextualized Performance: Right
Direction Meets “Proficient” criteria and
demonstrates awareness of what
makes a company profitable Performance:
Opportunities Meets “Proficient” criteria and
demonstrates keen awareness of
the opportunities available Articulation of
Response Submission is free of errors
related to citations, grammar,
spelling, syntax, and organization
and is presented in a professional
and easy-to-read format Describes the overall accounting Describes the overall accounting
process and types of internal
process but does not describe
controls for cash that are in place the types of internal controls for
cash that are in place, or
response contains inaccuracies
Analyzes the results of
Analyzes the results of
operations, describing what the operations but does not describe
results tell a business, supported what the results tell a business,
by workbook information
or response contains inaccuracies
or lacks support
Interprets what financial
Interprets what financial
statements say about the
statements say about the
strengths and weaknesses of the strengths and weaknesses of the
company’s financial position,
company’s financial position but
discussing role of ratio analysis
does not discuss the role of ratio
analysis
Discusses whether the company Discusses whether the company
is going in the right direction and is going in the right direction and
why, supporting response with
why, but with gaps in logic,
workbook information
accuracy, or support
Identifies opportunities that the Identifies opportunities that the
company can explore given its
company can explore given its
strengths and weaknesses,
strengths and weaknesses,
describing how the opportunities describing how the opportunities
could be beneficial, supported by could be beneficial, but with gaps
workbook evidence
in logic, accuracy, or support
Submission has no major errors Submission has major errors
related to citations, grammar,
related to citations, grammar,
spelling, syntax, or organization spelling, syntax, or organization
that negatively impact readability
and articulation of main ideas Does not describe the overall
accounting process 16 Does not analyze the results of
operations 12 Does not interpret what financial
statements say about the
strengths and weaknesses of the
company’s financial position 12 Does not discuss whether the
company is going in the right
direction and why 12 Does not identify opportunities
that the company can explore
given its strengths and
weaknesses 12 Submission has critical errors
related to citations, grammar,
spelling, syntax, or organization
that prevent understanding of
ideas
Earned Total 4 100%

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