ACC 690 Final Project Guidelines and Grading Guide Consolidation Model
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ACC 690 Final Project Guidelines and Grading Guide Consolidation Model Click below link for Answer visit www.workbank247.com http://workbank247.com/q/acc-690-final-project-guidelines-and- grading-guide/11908 http://workbank247.com/q/acc-690-final-project-guidelines-and- grading-guide/11908 ACC 690: Final Project Guidelines and Grading Guide: Consolidation Model Overview The final project for this course is the creation of an Excel spreadsheet model that shows the consolidation worksheet, intercompany elimination entries, other consolidation entries, and the final income statement and balance sheet for a sample parent and subsidiary company. The project is divided into three milestones, which will be submitted at various points throughout the course to scaffold learning and ensure quality final submissions. These milestones will be submitted in Modules Five, Eight, and Ten. GuidelinesThe Model Assignment: Students will be given the description of a parent company and a subsidiary company along with the two firms’ trial balances at book value as of December 31, 2012, the end of the year for both firms. (See Company Information below.) The financial data will be presented in English pounds as local currency.
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ACC 690 Final Project Guidelines and Grading Guide Consolidation ModelClick below link for Answer visit www.workbank247.comhttp://workbank247.com/q/acc-690-final-project-guidelines-and-grading-guide/11908http://workbank247.com/q/acc-690-final-project-guidelines-and-grading-guide/11908ACC 690: Final Project Guidelines and Grading Guide: Consolidation ModelOverviewThe final project for this course is the creation of an Excel spreadsheet model that shows the consolidation worksheet, intercompany elimination entries, other consolidation entries, and the final income statement and balance sheet for a sample parent and subsidiary company. The project is divided into three milestones, which will be submitted at various points throughout the course to scaffold learning and ensure quality final submissions. These milestones will be submitted in Modules Five, Eight, and Ten. GuidelinesThe Model Assignment: •Students will be given the description of a parent company and a subsidiary company along with the two firms’ trial balances at book value as of December 31, 2012, the end of the year for both firms. (See Company Information below.)•The financial data will be presented in English pounds as local currency.•Other data pertaining to the consolidation is also to be provided.•The student will analyze the data for purpose of consolidation. •The student will create a useful Excel model that shows the consolidation worksheet, intercompany elimination entries, other consolidation entries, and the final income statement and balance sheet.•Using the consolidated financial statements created, students will then use Excel modeling to translate the consolidated income statement and balance sheet from the English pounds to U.S. dollars based on exchange rates provided. (The U.S. dollar is the functional currency.) Requirements: •This project should be prepared as a report for your supervisor.•The report should be visually pleasing.•As many computations as possible should be done by the model with the exception of entering the original financial statement data.•The report should utilize “macros” and other built-in features found in Excel. MilestonesMilestone One:Initial ModelIn task 5-1, you will submit the initial Excel model for the report that shows the consolidation entries and the final income statement and balance sheet. This milestone will be graded using the Final Project Milestone One Rubric. Milestone Two: Model and Exchange RatesIn task 8-2, you will translate the consolidated income statement and balance sheet from English pounds to U.S. dollars.This milestone will be graded using the Final Project Milestone Two Rubric. Milestone 3: Final ReportIn task 10-4, you will submit the final report as an attractive, polished artifact that includes all the main elements of the final product. The report should reflect the incorporation of feedback gained throughout the course. This milestone will be graded using the Final Report Rubric (below). Company Information Below you will find the trial balance for Parent Company and its wholly owned purchase, Subsidiary Company, as of December 31, 2012. The financial statements are denominated in British pounds.Company Parent Company Subsidiary CompanyAccounts Debit Credit Debit CreditCash £10,000 £4,000 Accounts Receivable 25,000 10,000 Inventory 30,000 12,000 Short-Term Investments 40,000 6,000 Prepaid Assets 35,000 12,000 Investment in Subsidiary 290,000 Long-Term Notes Receivable 150,000 14,000 Debt Service Fund 50,000 Depreciable Assets 900,000 350,000 Accumulated Depreciation £200,000 £50,000Intangible Assets 45,000 20,000 Current Liabilities 92,000 44,000Long-Term Notes Payable 225,000 119,000Common Stock 400,000 200,000Retained Earnings 482,000 50,000Sa
Transcript of ACC 690 Final Project Guidelines and Grading Guide Consolidation Model
ACC 690 Final Project Guidelines and Grading Guide Consolidation ModelClick below link for Answer visitwww.workbank2!.co"#tt$%&&workbank2!.co"&'&acc(690(final($roject(guidelines(and(grading(guide&))90*#tt$%&&workbank2!.co"&'&acc(690(final($roject(guidelines(and(grading(guide&))90*ACC 690: Final Project Guidelines and GradingGuide: Consolidation Model+verviewThe final project for this course is the creation of an Excel spreadsheet model that shows the consolidation worksheet, intercompany elimination entries, other consolidation entries, and the final income statement and balance sheet for a sample parent and subsidiary company. The project is divided into three "ilestones, which will be submitted at various points throughout thecourse to scaffold learning and ensure quality final submissions. These milestones will be submitted in Modules Five, -ig#t, and .en. GuidelinesThe Model Assignment:Students will be given the description of a parent company and a subsidiary company along with the two firms trial balances at book value as of !ecember "#, $%#$, the end of the year for both firms. &See Company Information below.'The financial data will be presented in English pounds as local currency.(ther data pertaining to the consolidation is also to be provided.The student will analy)e the data for purpose of consolidation. The student will create a useful Excel model that shows the consolidation worksheet, intercompany elimination entries, other consolidation entries, and the final income statement andbalance sheet.*sing the consolidated financial statements created, students will then use Excel modeling to translate the consolidated income statement and balance sheet from the English pounds to *.S.dollars based on exchange rates provided. &The *.S. dollar is the functional currency.' Requirements: This project should be prepared as a report for your supervisor.The report should be visually pleasing.+s many computations as possible should be done by the model with the exception of entering the original financial statement data.The report should utili)e ,macros- and other built.in features found in Excel. MilestonesMilestone +ne/Initial Model0n task /(), you will submit the initial Excel model for the report that shows the consolidation entries and the final income statement and balance sheet. .#is "ilestone will be graded using t#e Final Project Milestone +ne 0ubric. Milestone .wo/ Model and Exchange Rates0n task *(2, you will translate the consolidated income statement and balance sheet from English pounds to *.S. dollars..#is "ilestone will be graded using t#e Final Project Milestone .wo 0ubric. Milestone 1/ Final Report0n task )0(, you will submit the final report as an attractive, polished artifact that includes all the main elements of the final product. The report should reflect the incorporation of feedback gained throughout the course. .#is "ilestone will be graded using t#e Final 0e$ort 0ubric 2below3. Company Information 1elow you will find the trial balance for 2arent 3ompany and its wholly owned purchase, Subsidiary 3ompany, as of !ecember "#, $%#$. The financial statements are denominated in 1ritish pounds.Other Important Information:#.Subsidiary 3ompanys assets and liabilities are all shown at fair value except for/Co"$an4 Parent Co"$an4 5ubsidiar4 Co"$an4Accounts 6ebit Credit 6ebit Credit3ash 4#%,%%% 45,%%%+ccounts 6eceivable $7,%%% #%,%%%0nventory "%,%%% #$,%%%Short.Term 0nvestments 5%,%%% 8,%%%2repaid +ssets "7,%%% #$,%%%0nvestment in Subsidiary $9%,%%%:ong.Term ;otes 6eceivable #7%,%%% #5,%%%!ebt Service , $%#$, 2arent 3ompany made a long.term loan to Subsidiary 3ompany in the amount of #%%,%%%. 5.Subsidiary 3ompany paid 2arent 3ompany >,%%% for 3onsulting Services. Subsidiary 3ompany considers this an +dministrative Expense, and 2arent 3ompany considers it Sales 6evenue.7.Exchange rates are/@arch "#, $%#$ Exchange 6ate# 4 A B#.$5+verage 6ate for $%#$# 4 A B#.$$!ecember "#, $%#$ Exchange 6ate# 4 A B#.$%
