ACC 550 Final Project Guidelines and Rubric Overview

ACC 550 Final Project Guidelines and Rubric
Overview
The final project for this course is the creation of a quantitative analysis that includes an Excel spreadsheet, accompanied by a memo to management.
Accountants provide management with the logistics of the business that are crucial for daily operations and a company’s overall success. In any business, it is of
the utmost importance to be aware of all finances and internal processes. Cost accountants focus solely on the internal processes of a business and are tasked
with eliminating any unnecessary costs in order to maximize profits.
In this assessment, you have been tasked with conducting a quantitative analysis that looks into the internal processes of a company. Based on your analysis, you
will formulate recommendations to management that aim to improve internal processes and increase profits for the 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 Three, Five, and Seven. Your final submission will occur in Module Nine.
In this assignment, you will demonstrate your mastery of the following course outcomes: Apply cost-volume-profit (CVP) analysis based on cost classification for planning and control of internal accounting processes within an organization
Assess cost and revenue allocation methods for providing relevant information to decision makers
Select the optimal inventory management method for meeting the needs of an organization
Evaluate cost accounting performance and planning tools for their impact on business operations Prompt
Conduct a quantitative analysis of a company’s internal processes using the Hampshire Company Case Study document. Your analysis will consist of completing
the Hampshire Company Spreadsheet and will be accompanied by a memo to management.
Specifically, the following critical elements must be addressed:
I. Cost-Volume-Profit Analysis
Cost-volume-profit (CVP) analysis is a useful tool for informing short-term economic planning within an organization. In this section, a CVP analysis
will be conducted and used to inform business decisions and recommendations.
A. Perform a CVP analysis based on cost classifications.
B. Explain how a CVP analysis can assist management with short-term economic planning. Support your response with examples from your
CVP analysis.
C. Accurately compute the break-even quantity and break-even revenue. D. Determine whether the company is breaking even. What are the CVP analysis implications on planning?
II. Inventory Management
Inventory management serves to minimize the cost to maintain inventory and maximize returns. In this section, the company’s financial data will be
reviewed in order to determine the optimal inventory management system.
A. Determine an optimal cost allocation method based on the relevant costs.
B. Describe how this method should be used by decision makers to fulfill their responsibilities. Support your response with examples.
C. What are the pros and cons of implementing the just-in-time (JIT) inventory system? Do the pros outweigh the cons for this company?
D. Explain how the just-in-time (JIT) inventory system can benefit this organization. Defend your response.
E. Identify the inventory management method you recommend, and explain why this method will benefit the company. III. Benchmarking
In this section, benchmarking will be reviewed. Benchmarking can be implemented in various ways depending on a company’s circumstances. Your
company has decided to implement benchmarking and would like you to research and recommend the most effective approach.
A. What is the advantage to benchmarking in terms of improving companies’ performance? Support your response.
B. Identify possible approaches to benchmarking. Describe each.
C. Which benchmarking method should management adopt and why? IV. Alternative Costing Method
There are various costing methods available for companies to implement. As a company grows, it may become beneficial to consider an alternate
costing method.
A. Identify an alternative costing method that could benefit this company, and describe the main characteristics of that method.
B. What should a company look for when trying to determine whether they should adopt such a system?
C. Should the company adopt this alternative costing method? Defend your response. V. Memo to Management
Your memo to management should serve as a summary of your quantitative analysis, reviewing the key points and recommendations that you feel
management should be aware of.
A. Describe the overall findings of your analysis, including key elements that management should be aware of.
B. Make a recommendation to management based on your cost accounting analysis that will enhance business planning.
C. Recommend a performance tool to management based on your cost accounting analysis that will improve business operations. You may use the following resources to help you prepare your memo to management: Purdue OWL: Memos contains information related to formatting a memo,
and Purdue OWL: Sample Memo presents a sample of a memo that you can use as a guide when you format the memo for the final project. If you would like a refresher course on using various features of Excel, sign in to Atomic Learning and type “Excel” in the search box. This will provide you with
options to select the specific level of training that you need (intro, intermediate, or advanced) and the specific version of Excel that you have (e.g., 2011 or 2013).
The trainings are broken down into small, meaningful chunks. Therefore, you should be able to find specific topics at each level that will meet your needs. Milestones
Milestone One: Draft of Cost-Volume-Profit Analysis
In Module Three, you will submit a draft of the cost-volume-profit analysis (Section I of the final project), including all critical elements as listed above. Refer to
the Hampshire Company Case Study document, as this will provide you with details on how to complete this milestone. All calculations for your quantitative
analysis should be completed in the Hampshire Company Spreadsheet. You will provide a rough draft of your one- to two-page qualitative analysis in a Word
document. The Word document must be in APA format. Once you have completed your analysis, submit your Word and Excel documents. This milestone will be
graded with the Milestone One Rubric.
Milestone Two: Draft of Inventory Management and Benchmarking
In Module Five, you will submit a draft of the inventory management and benchmarking sections of the final project (Sections II and III, respectively), including all
critical elements as listed above. Refer to the Hampshire Company Case Study document, as this will provide you with details on how to complete this milestone.
All calculations for your quantitative analysis should be completed in the Hampshire Company Spreadsheet. You will provide a rough draft of your three- to fourpage qualitative analysis in a Word document. The Word document must be in APA format. Once you have completed your analysis, submit your Word and Excel
documents. This milestone will be graded with the Milestone Two Rubric.
Milestone Three: Draft of Alternative Costing Method
In Module Seven, you will submit a draft of the alternative costing method section of the final project (Section IV), including all critical elements as listed above.
Refer to the Hampshire Company Case Study document, as this will provide you with details on how to complete this milestone. All calculations for your
quantitative analysis should be completed in the Hampshire Company Spreadsheet. You will provide a rough draft of your two- to three-page qualitative analysis
in a Word document. The Word document must be in APA format. Once you have completed your analysis, submit your Word and Excel documents. This
milestone will be graded with the Milestone Three Rubric.
Final Project Submission: Quantitative Analysis and Memo to Management
In Module Nine, you will submit your quantitative analysis and memo to management. 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 Rubric. Deliverables
Milestone
One
Two
Three Deliverable
Draft of Cost-Volume-Profit Analysis
Draft of Inventory Management and
Benchmarking
Draft of Alternative Costing Method
Final Project Submission: Quantitative
Analysis and Memo to Management Module Due
Three
Five Grading
Graded separately; Milestone One Rubric
Graded separately; Milestone Two Rubric Seven
Nine Graded separately; Milestone Three Rubric
Graded separately; Final Project Rubric Final Project Rubric
Guidelines for Submission: The financial portions of your quantitative analysis should be submitted using the Hampshire Company Spreadsheet. The written
portions of your qualitative analysis should be submitted as a six- to nine-page Microsoft Word document. Your memo to management should be submitted as a
two- to three-page Microsoft Word document. Both Word documents 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
Cost-Volume-Profit
Analysis: Analysis
Cost-Volume-Profit
Analysis: Economic
Planning Cost-Volume-Profit
Analysis: Break-Even Exemplary Proficient
Performs a cost-volume-profit
analysis based on cost
classifications (100%)
Meets “Proficient” criteria and
Explains how a CVP analysis can
demonstrates a nuanced
assist management with shortunderstanding of the relationship term economic planning and
between CVP and short-term
supports response with examples
planning (100%)
(90%)
Accurately computes the breakeven quantity and break-even
revenue (100%) Needs Improvement
Performs a cost-volume-profit
analysis, but it is not based on
cost classifications (70%)
Explains how a CVP analysis can
assist management with shortterm economic planning but does
not support response with
examples, or explanation is
cursory or inaccurate (70%)
Computes the break-even
quantity and break-even revenue,
but there are issues with
accuracy (70%) Not Evident
Does not perform a cost-volumeprofit analysis (0%) Value
5.4 Does not explain how a CVP
analysis can assist management
with short-term economic
planning (0%) 5.4 Does not compute the breakeven quantity and break-even
revenue (0%) 5.4 Cost-Volume-Profit
Analysis: Implications Meets “Proficient” criteria and
Determines whether the
uses industry-specific language to company is breaking even and
establish expertise (100%)
identifies cost-volume-profit
analysis implications for planning
(90%) Inventory Management: Meets “Proficient” criteria and
Relevant Costs
demonstrates a nuanced
understanding of the relationship
between optimal cost allocation
and relevant costs (100%)
Inventory Management: Meets “Proficient” criteria, and
Method
description is exceptionally clear
and contextualized (100%) Determines an optimal cost
allocation method based on the
relevant costs (90%) Recommends how the method
should be used by decision
makers to fulfill their
responsibilities and supports
response with examples (90%) Determines whether the
company is breaking even but
does not identify cost-volumeprofit analysis implications on
planning, or determination or
identification contain issues with
accuracy (70%)
Determines an optimal cost
allocation method, but
determination is not based on
the relevant costs (70%) Recommends how the method
should be used by decision
makers to fulfill their
responsibilities but does not
support response with examples
(70%)
Inventory Management: Meets “Proficient” criteria, and
Identifies the pros and cons of
Identifies the pros and cons of
Pros and Cons
description is well supported with implementing JIT and describes
implementing JIT but does not
examples (100%)
whether the pros outweigh the
describe whether the pros
cons for this company (90%)
outweigh the cons for this
company (70%)
Inventory Management: Meets “Proficient” criteria, and
Explains how the JIT inventory
Explains how the JIT inventory
Inventory System
explanation is exceptionally clear system can benefit the
system can benefit the
and contextualized (100%)
organization and defends
organization but does not defend
response (90%)
response (70%)
Inventory Management: Meets “Proficient” criteria and
Identifies the inventory
Identifies the inventory
Inventory
uses specific examples to support management method
management method
description (100%)
recommended and explains why recommended but does not
this method will benefit the
explain why this method will
company (90%)
benefit the company (70%)
Benchmarking:
Meets “Proficient” criteria, and
Identifies an advantage of
Identifies an advantage of
Advantage
support includes specific
benchmarking and supports
benchmarking but does not
examples (100%)
response (90%)
support response (70%)
Benchmarking:
Meets “Proficient” criteria and
Identifies different approaches to Identifies different approaches to
Approaches
shows a keen insight into the
benchmarking and describes each benchmarking but does not
variety of benchmarking
(90%)
describe each (70%)
approaches (100%) Does not determine whether the
company is breaking even (0%) 5.4 Does not determine an optimal
cost allocation method (0%) 5.4 Does not recommend how the
method should be used by
decision makers (0%) 5.4 Does not identify the pros and
cons of implementing JIT (0%) 5.4 Does not explain how the JIT
inventory system can benefit the
organization (0%) 5.4 Does not identify the inventory
management method that is
recommended (0%) 5.4 Does not identify an advantage of
benchmarking (0%) 5.4 Does not identify different
approaches to benchmarking
(0%) 5.4 Benchmarking:
Benchmarking Method Meets “Proficient” criteria, and
determination is well supported
and plausible (100%) Alternative Costing
Method: Main
Characteristics Meets “Proficient” criteria and
displays a keen insight into the
variety of alternative costing
systems (100%) Alternative Costing
Method: Adopt Meets “Proficient” criteria and
demonstrates a nuanced
understanding of the relationship
of the needs of a company and an
alternative costing system (100%)
Meets “Proficient” criteria, and
determination is well supported
and plausible (100%) Alternative Costing
Method: Method Memo to Management:
Findings Meets “Proficient” criteria, and
description is exceptionally clear
and contextualized (100%) Memo to Management:
Business Planning Meets “Proficient” criteria, and
recommendation is well
supported and plausible (100%) Memo to Management:
Business Operations Meets “Proficient” criteria, and
recommendation uses industryspecific language to establish
expertise (100%)
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 (100%) Determines which benchmarking
method management should
adopt and justifies response
(90%)
Identifies alternative costing
systems and describes the main
characteristics of each (90%) Determines what the company
should look for when deciding to
adopt an alternative costing
system and supports response
with examples (90%)
Determines whether the
company should adopt the
alternative costing method and
defends response (90%)
Describes the overall findings of
analysis and identifies key
elements that management
should be aware of (90%)
Makes recommendation to
enhance business planning based
on cost accounting analysis (90%)
Recommends a performance tool
to improve business operations
based on cost accounting analysis
(90%)
Submission has no major errors
related to citations, grammar,
spelling, syntax, or organization
(90%) Determines which benchmarking
method management should
adopt but does not justify
response (70%)
Identifies alternative costing
systems but does not describe
the main characteristics of each,
or identification or description
contain inaccuracies (70%)
Determines what the company
should look for when deciding to
adopt an alternative costing
system but does not support
response with examples (70%)
Determines whether the
company should adopt the
alternative costing method but
does not defend response (70%)
Describes the overall findings of
analysis but does not identify key
elements that management
should be aware of (70%)
Makes recommendation to
enhance business planning, but
recommendation is not based on
cost accounting analysis (70%)
Recommends a performance tool
to improve business operations,
but recommendation is not based
on cost accounting analysis (70%)
Submission has major errors
related to citations, grammar,
spelling, syntax, or organization
that negatively impact readability
and articulation of main ideas
(70%) Does not determine which
benchmarking method
management should adopt (0%) 5.4 Does not identify alternative
costing systems (0%) 5.4 Does not determine what the
company should look for when
deciding to adopt an alternative
costing system (0%) 5.4 Does not determine whether the
company should adopt the
alternative costing method (0%) 5.4 Does not describe the overall
findings of analysis (0%) 5.4 Does not make recommendation
to enhance planning (0%) 5.4 Does not recommend a
performance tool to improve
business operations (0%) 5.4 Submission has critical errors
related to citations, grammar,
spelling, syntax, or organization
that prevent understanding of
ideas (0%) 2.8 Earned Total 100%
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