ACC 207 Milestone One Guidelines and Ru
ic
Overview: This assessment focuses on the SRS Educational Supply Company case study. The company provides educational materials and supplies to educational
institutions. The SRS business model is to be a one-stop provider of educational supply needs. For example, some of their product lines include educational
workbooks, classroom visual aids, instructor support materials, art supplies, lab supplies, and administrative office supplies. While SRS serves all levels of
educational institutions, the majority of its customers are K–12 schools. Sales can vary quite a bit from month-to-month, as K–12 educational institutions have
seasonal ordering patterns. Thus, budgeting is vital for planning and cash-flow purposes. SRS has a June 30 fiscal year end.
For Milestone One of Final Project II, you will create department budgets for the four main departments of SRS Educational Supply Company: Sales, Purchasing
Operation, and Finance.
Prompt: Assume you are the new cost accountant at SRS. In this new position, you have been asked to perform a few tasks for the company’s leadership team.
The company has four main managers: sales manager, purchasing manager, operations manager, and finance manager. Each manager has general information
about the company as a whole, as well as information about their own department—private information known only by this departmental manager—that is
more accurate than the general corporate information.
First, review the information for Final Project II. Then, using the Final Project II workbook, complete the four department budgets for the three-month period
eginning July 1 and ending September 30.
Specifically, you must address the critical elements listed below:
I. Budgeting: Prepare Budgets
A. Review the financial information and enter data into the co
ect tabs in the Final Project II workbook. Be sure to complete all the relevant tabs in
the workbook. Complete the following:
i. A sales budget by month and in total
ii. A schedule of expected cash collections from sales by month and in total
iii. A merchandise purchase budget in dollars by month and in total
iv. A schedule of expected cash disbursements for merchandise purchases by month and in total
v. A selling and administrative budget by month and in total
vi. A schedule of expected cash disbursements for selling and administration by month and in total
vii. A cash budget by month and in total
https:
learn.snhu.edu/d2l/lo
viewe
view.d2l?ou=6606&loIdentId=22513
Ru
ic
Guidelines for submission: Submit your Final Project II Workbook with all the relevant sections for Milestone One completed.
Critical Element Proficient (100%) Needs Improvement (70%) Not Evident (0%) Value
Budgeting: Sales
Budget
Prepares an accurate sales budget by
month and in total based on the case
study data
Prepares a sales budget by month based on the case
study data, but does not make a total budget, or
there are e
ors in the data entry or calculations
Does not prepare a sales budget by
month and in total based on the case
study data
15
Budgeting: Schedule
of Expected Cash
Collections
Prepares an accurate schedule of
expected cash collections from sales by
month and in total based on the case
study data
Prepares a schedule of expected cash collections
from sales by month based on the case study data,
ut either does not make a total budget or there are
e
ors in the data entry or calculations
Does not prepare a schedule of
expected cash collections from sales by
month and in total based on the case
study data
14
Budgeting:
Merchandise
Purchase Budget
Prepares an accurate merchandise
purchase budget in dollars showing the
udget by month and in total based on
the case study data
Prepares a merchandise purchase budget in dollars
showing the budget by month based on the case
study data, but either does not make a total budget
or there are e
ors in the data entry or calculations
Does not prepare a merchandise
purchase budget in dollars showing the
udget by month and in total based on
the case study data
14
Budgeting: Schedule
of Expected Cash
Disbursements for
Merchandise
Prepares an accurate schedule of
expected cash disbursements for
merchandise purchases by month and in
total based on the case study data
Prepares a schedule of expected cash
disbursements for merchandise purchases by month
ased on the case study data, but either does not
make a total budget or there are e
ors in the data
entry or calculations
Does not prepare a schedule of
expected cash disbursements for
merchandise purchases by month and
in total based on the case study data
15
Budgeting: Selling and
Administrative
Budget
Prepares an accurate selling and
administrative budget by month and in
total based on the case study data
Prepares a selling and administrative budget by
month based on the case study data, but either
does not make a total budget or there are e
ors in
the data entry or calculations
Does not prepare a selling and
administrative budget by month and in
total based on the case study data
14
Budgeting: Schedule
of Expected Cash
Disbursements for
Selling and
Administration
Prepares an accurate schedule of
expected cash disbursements for selling
and administration by month and in
total based on the case study data
Prepares a schedule of expected cash
disbursements for selling and administration by
month based on the case study data, but either
does not make a total budget or there are e
ors in
the data entry or calculations
Does not prepare a schedule of
expected cash disbursements for selling
and administration by month and in
total based on the case study data
14
Budgeting: Cash
Budget
Prepares an accurate cash budget by
month and in total based on the case
study data
Prepares a cash budget by month based on the case
study data, but either does not make a total budget
or there are e
ors in the data entry or calculations
Does not prepare a cash budget by
month and in total based on the case
study data
14
Total 100%