Assignment Instructions
In preparation for upcoming assignments, create the three major financial statements for your business for Assignment 1 (please review the required reading for guidance). Each statement needs to represent one calendar year. If you are in the planning stages, you will need to create these financial statements based on your personal finances:
Balance Sheet
Income Statement
Cash Flow Statement
Create the three statements in one file using Spreadsheet Software; each statement will be on a separate tab. Do NOT submit three files – you will incur points deduction if you do.
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W e e k 1 – F i n a n c i a l S t a t e m e n t s
Grade:
Possible Points: 100.00
Calculated Score:
Adjusted Score:
Percentage: –
! Descriptions ! Comments
Financial Statements 100 %
Innovative4 pts Exceeds Dynamic 3.2 pts Meets
Shines 2.8 pts Below
Starting 2.4 pts Well Below
Haven’t started 0 pts Not Aligned
Balance Sheet 25 % Created balance sheet
Innovative
Created current balance sheet for one calendar year; assets, liabilities, and equity present; all calculations correct; balance sheet was balanced.
Dynamic
Created current balance sheet for less than one calendar year; assets, liabilities, and equity present; all calculations correct; balance sheet was balanced.
Shines
Created current balance sheet for one calendar year; assets, liabilities, and equity present; all calculations not correct; balance sheet was not balanced.
Starting
Attempted to create current balance sheet; assets, liabilities, and/or equity present but not all three; all calculations not correct; balance sheet was not balanced.
Haven’t started
Did not complete.
Income Statement 30 % Created income statement
Innovative
Created current income statement for one calendar year; had the following plus additional items: sales, cost of goods sold, expenses, losses, gross income, taxes, net income; calculations correct.
Dynamic
Created current income statement for less than one calendar year; had the following plus additional items: sales, cost of goods sold, expenses, losses, gross income, taxes, net income; calculations correct.
Shines
Created current income statement for one calendar year; minimally had the following items: sales, cost of goods sold, expenses, losses, gross income, taxes, net income; calculations may not be correct.
Starting
Attempted to create current income statement; did not minimally have the following items: sales, cost of goods sold, expenses, losses, gross income, taxes, net income; calculations not correct.
Haven’t started
Did not complete.
Cash Flow Statement 25 % Created cash flow statement
Innovative
Created current cash flow statement for one calendar year; had specific cash inflow and cash outflow sections; all calculations correct.
Dynamic
Created current cash flow statement for less than one calendar year; had specific cash inflow and cash outflow sections; all calculations correct.
Shines
Created current cash flow statement for one calendar year; had specific cash inflow and/or cash outflow sections; some calculations not correct.
Starting
Attempted to create current cash flow statement; did not have specific cash inflow and cash outflow sections; all calculations not correct.
Haven’t started
Did not complete.
Spreadsheet Software 10 % Used spreadsheet software
Innovative
Used spreadsheet software to create all financial statements; each statement on a separate tab; one spreadsheet file submitted.
Dynamic
Used spreadsheet software to create all financial statements; did not submit one spreadsheet file (multiple files submitted).
Shines
Used spreadsheet software to create most financial statements; did not submit one spreadsheet file (multiple files submitted).
Starting
Used spreadsheet software to create some of the financial statements; did not submit one spreadsheet file (submitted multiple files).
Haven’t started
Did not use spreadsheet software.
Writing Mechanics 10 %
Innovative Dynamic Shines Starting Haven’t started
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3/4/20, 6)48 PMAPUS RCampus – Week 1 – Financial Statements: RCampus Open Tools for Open Minds
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Clarity in writing, spelling, grammar.
The writing was clear and had no spelling and grammar errors.
The writing was clear and had minor spelling and grammar errors.
The writing had minor spelling and grammar errors; writing was somewhat unclear.
The writing had major spelling and grammar errors; writing was unclear.
The writing was grossly unclear and/or had major spelling and grammar errors.
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