ACC 207 Final Project II Guidelines and Rubric Overview Cost accounting is used for two main purposes. The first purpose is to determine the actual costs of products, projects, processes, or services...

ACC 207 Final Project II Guidelines and Ru
ic

Overview
Cost accounting is used for two main purposes. The first purpose is to determine the actual costs of products, projects, processes, or services so an organization can report
co
ect and accurate information on their financial statements. The second purpose is to aid the management team in making decisions and guiding the planning and
control functions of the organization. Cost accounting provides an analysis of cost behavior, cost-volume-profit relationships, budgeting, resource costing, and activity-
ased costing. The roots of cost accounting are in the manufacturing business, but cost-accounting concepts are also used in service industries.

This assessment focuses on the SRS Educational Supply Company case study. SRS is a company that provides materials and supplies to educational institutions. The SRS
usiness model is to be a one-stop provider of educational supply needs. For example, some of their product lines include 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 their 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 30th fiscal year end.

The final project is divided into two parts. In Final Project II, you will review the financial information provided for the four main departments of the organization: sales,
purchasing, operations, and finance. Based on the information provided, you will create departmental budgets for each of the four departments. You will then create a
master budget based on the department budgets. In addition, you will create an executive
ief presentation regarding the budgeting process. You will also provide an
overview of the department and master budgets.

This final project contains one milestone, which is submitted in Module Five to scaffold learning and ensure quality final submissions. The final product will be submitted in
Module Seven.

In this assignment, you will demonstrate your mastery of the following course outcomes:
 ACC-207-02: Prepare budgets for various purposes in order to aid managerial decision-making processes
 ACC-207-03: Prepare cost accounting reports to internally communicate information to managerial decision makers

Prompt
The company has four main managers: a sales manager, a purchasing manager, an operations manager, and a finance manager. Each manager has both general information
about the company as a whole and information about their own department. The information known only by the departmental manager is more accurate than the general
corporate information.

https:
learn.snhu.edu/d2l/lo
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view.d2l?ou=6606&loIdentId=22522

Based on the information and data in the case study document, create a master budget for the three-month period beginning July 1st and ending September 30th. You are
esponsible for creating a budget for each department that will become the master budget.

Specifically, you will address the following critical elements listed below. Most of the critical elements align with a particular course outcome (shown in
ackets).

I. Budgeting: Prepare Budgets
A. Review the financial information in the case study. Create spreadsheets and enter your data for the following:
1. Prepare the sales budget by month and in total. [ACC-207-02]
2. Prepare a schedule of expected cash collections from sales by month and in total. [ACC-207-02]
3. Prepare a merchandise purchase budget in dollars by month and in total. [ACC-207-02]
4. Prepare a schedule of expected cash disbursements for merchandise purchases by month and in total. [ACC-207-02]
5. Prepare a selling and administrative budget by month and in total. [ACC-207-02]
6. Prepare a schedule of expected cash disbursements for selling and administration by month and in total. [ACC-207-02]
7. Prepare a cash budget by month and in total. [ACC-207-02]
8. Prepare a budgeted income statement (pro forma) for the three-month period ending September 30th using the absorption costing approach.
[ACC-207-02]
9. Prepare a master budget balance sheet (pro forma) as of September 30th. [ACC-207-02]

II. Reporting
A. Analyze Data
1. Briefly summarize each department budget and note any large variances. [ACC-207-03]
2. Explain two variances that might cause concern or prompt further analysis. [ACC-207-03]

B. Executive Brief Presentation
1. Create an executive
iefing presentation in which you
iefly summarize all budgets. Include all supporting documentation as addendums to the
ief. [ACC-207-03]
Milestones
Milestone One: Budgets
In Module Five, you will prepare and submit the department budgets. This submission will be graded using the Final Project II Milestone One Ru
ic.

Final Submission: Final Project II Submission
In Module Seven, you will submit your final project. You will compile the department budgets, master budget, and an overview of the budgeting process in an executive
ief presentation. Based on the performance analysis of the company’s press division, you will prepare a memo for the company’s leadership team to explain the
performance level of the press division and whether it should continue operations. It should be a complete, polished artifact containing all of the critical elements of the
final product. It should reflect the incorporation of feedback gained throughout the course. This submission will be graded using the Final Project II Ru
ic.
Final Project II Ru
ic
Guidelines for Submission: Your Final Project II submission is an organizational financial analysis report, which is your choice of a 12- to 15-page Microsoft Word document
OR a 12- to 15-slide Microsoft PowerPoint presentation (excluding title page and references list):

 Word Document: If you submit a Word document, it should be double spaced, with 12-point Times New Roman font and one-inch margins, and it should use the
latest guidelines for APA formatting for references and citations. Include your name, course number and course name, and report title on the title page. Upload
your Final Project II Student Workbook with any edits based on instructor feedback as a separate addendum.
 PowerPoint: If you submit a PowerPoint presentation, it should include speaker notes (in addition to slide bullet points for each budget) that
iefly summarize
each of the budgets and the two variances. Upload your Final Project II Student Workbook with any edits based on instructor feedback as a separate addendum.

Critical Element Exemplary Proficient Needs Improvement Not Evident Value
Budgeting: Sales
Budget
[ACC-207-02]
Prepares an accurate sales
udget by month and in total
ased on the case study data
(100%)
Prepares a sales budget by month
ased on the case study data, but
either does not make a total
udget or there are e
ors in the
data entry or calculations (55%)
Does not prepare a sales
udget by month and in total
(0%)
7
Budgeting: Schedule
of Expected Cash
Collections
[ACC-207-02]
Prepares an accurate schedule
of expected cash collections
from sales by month and in
total based on the case study
data (100%)
Prepares a schedule of expected
cash collections from sales 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
(55%)
Does not prepare a schedule of
expected cash collections from
sales by month and in total
(0%)
7
Budgeting:
Merchandise
Purchase Budget
[ACC-207-02]
Prepares an accurate
merchandise purchase budget
in dollars and shows the budget
y month and in total based on
the case study data (100%)
Prepares a merchandise purchase
udget in dollars and shows the
udget 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 (55%)
Does not prepare a
merchandise purchase budget
in dollars showing the budget
y month and in total based
(0%)
7
Critical Element Exemplary Proficient Needs Improvement Not Evident Value
Budgeting: Schedule
of Expected Cash
Disbursements for
Merchandise
[ACC-207-02]
Prepares an accurate schedule
of expected cash
disbursements for merchandise
purchases by month and in
total based on the case study
data (100%)
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
udget or there are e
ors in the
data entry or calculations (55%)
Does not prepare a schedule of
expected cash disbursements
for merchandise purchases by
month and in total (0%)
7
Budgeting: Selling and
Administrative
Budget
[ACC-207-02]
Prepares an accurate selling
and administrative budget by
month and in total based on
the case study data (100%)
Prepares a selling and
administrative budget by month
ased on the case study data, but
either does not make a total
udget or there are e
ors in the
data entry or calculations (55%)
Does not prepare a selling and
administrative budget by
month and in total (0%)
7
Budgeting: Schedule
of Expected Cash
Disbursements for
Selling and
Administration
[ACC-207-02]
Prepares an accurate schedule
of expected cash
disbursements for selling and
administration by month and in
total based on the case study
data (100%)
Prepares a schedule of expected
cash disbursements for selling
and administration by month
ased on the case study data, but
either does not make a total
udget or there are e
ors in the
data entry or calculations (55%)
Does not prepare a schedule of
expected cash disbursements
for selling and administration
y month and in total (0%)
7
Budgeting: Cash
Budget
[ACC-207-02]
Prepares an accurate cash
udget by month and in total
ased on the case study data
(100%)
Prepares a cash budget by month
ased on the case study data, but
either does not make a total
udget or there are e
ors in the
data entry or calculations (55%)
Does not prepare a cash
udget by month and in total
(0%)
7
Budgeting: Budgeted
Income Statement
(Pro Forma)
[ACC-207-02]
Prepares an accurate budgeted
income statement (pro forma)
for the three-month period
ending September 30th based
on the case study data (100%)
Prepares a budgeted income
statement (pro forma) for the
three-month period ending