You did such a great job on research projects in grad school that you decided to accept a job offer as an accounting research assistant. Destiny Brown, your new immediate supervisor (your professor)...

Microsoft Word - 58DFAFB00FF6B3475850E0309ED57E33.docx 010323 Last updated by Sharon L. Levin Page 1 of 3 I. Title: Financial Accounting Research Project All graduate accounting course deliverables use the AICPA Pre-Certification Core Competency Framework to assess competencies deemed essential for success in the accounting profession. Competencies assessed by this project: § Analysis o Properly lists issues as questions in a logical order § Research: o Contains all relevant background information presented in a logical manner and does not contain irrelevant background information o Cites the Financial Accounting Standards Board Accounting Standards Codification (ASC), paraphrases ASC in own words, ties relevant facts from the case to the ASC, and concludes on each issue § Decision-making: o States conclusion and reasons why without just referencing ASC (use own words) § Communication o To, From, Subject and Date are all accurate and descriptive. Sentence structure, organization and flow of writing, proper tone (precise, professional style of writing), conciseness. Spelling, grammar, punctuation, use of correct words Scenario: You did such a great job on research projects in grad school that you decided to accept a job offer as an accounting research assistant. Destiny Brown, your new immediate supervisor (your professor) now feels confident you can conduct professional accounting research using FASB’s Accounting Standards Codification (ASC). Destiny called an impromptu meeting to discuss the specifics of your research assignment. Eager to please the new boss, you brush up on your writing skills by reviewing all resources in Appendix B. Steps to Completion: Step 1 – Review the grading rubric to ensure you understand how your deliverable will be graded. The rubric is in Content>Learning Resources>Assessments: Projects, Discussions, Quizzes, & Rubrics. Step 2 – Read this project file thoroughly. Step 3: Read the case study file until you fully understand the issues you’ll be researching. Note, the case study includes Appendix B only. Appendix A is not 010323 Last updated by Sharon L. Levin Page 2 of 3 included. This American Accounting Association case study is Writing Accounting Research Memos by Janet M. Huston of Texas Tech University and Janet A. Samuels from Arizona State University. Step 4 – Use the FASB ASC • You should have begun the process of learning how to use the ASC in Week 1. If you have not already done so, you need to learn how to use the Codification to complete this project. You will find the login credentials and this document: How to Use the Codification in Content/Course Resources/Subscription-Based Resources. • Use the login credentials to access the FASB Accounting Standards Codification (ASC) Step 5 – Make informed decisions • Use your critical thinking skills by asking questions, such as: o What problem(s)/questions am I trying to solve? o Have I researched the Codification sufficiently to locate the correct ASC number? o Have I researched relevant and reliable resources to find possible answers? o What assumptions am I making, if any? Are they justifiable or self-serving assumptions? o Have I collected sufficient evidence to develop an effective decision? o Which evidence supports my decisions? Am I ignoring evidence that disputes my decisions? If so, why? o Would my decision be different if I spent more time researching? o Would my decision remain constant over time assuming the ASC does not change? • Base your decision on objective evidence found in the FASB ASC. Step 6 – Prepare a draft of your report • Use the template provided in the case to prepare the deliverable. Note, the template uses APA Style, 7th ed. • Submit your draft to the writing tutors early enough to receive their feedback. • Submit your draft in your LEO folder early enough to receive a Turnitin Similarity Score. Step 7 – Prepare and Submit your Final Deliverable • Review and incorporate feedback you received from the writing tutors to improve your final report. • Review your Turnitin Similarity Score and make edits if necessary. Information on Turnitin is located in Content/Course Resources/Writing Resources/Turnitin. 010323 Last updated by Sharon L. Levin Page 3 of 3 • Review the grading rubric one more time to ensure you understand how your report will be graded. • Prepare and submit your final memorandum. IV. Deliverables: • One memorandum in MS Word, double spaced, approximately 4-6 pages. V. Rubric: You will find the rubric in LEO under Content>Learning Resources>Assessments: Projects, Discussions, Quizzes, & Rubrics VI. Hints and Tips: • Read the grading rubric before beginning the project to fully understand the requirements; ask questions about the requirements if needed. • Read the case study until you fully understand it. • All of the answers can be found in the FASB ASC. • Use the Wiley GAAP text for interpretation and clarification of the ASC. • To properly guide you, I need to read your thoughts and interpretations of the ASC, which demonstrate your comprehension of the FASB ASC and ability to perform the competencies • Demonstrate through your writing that you have gained a/an: • deeper understanding of the FASB ASC guidelines • applied critical thinking, professional judgment, and decision-making skills to the case study and have enhanced your professional writing and research skills using the FASB ASC. • Submit the deliverable on or before the due date. • Review the Late Policy, which will be strictly enforced. It is in Learning Resources/Late Policy. • Ask your professor questions as needed. Content Research Communication Writing Style Analysis Decision making Total Accounting Research Rubric Exceeds Performance Expectations 30 points Contains all relevant background information presented in a logical manner and does not contain irrelevant background information. Cites the Financial Accounting Standards Board Accounting Standards Codification (ASC), paraphrases ASC in own words, ties relevant facts from the case to the ASC, and concludes on each issue To, From, Subject and Date are all accurate and descriptive. Sentence structure, organization and flow of writing, proper tone (precise, professional style of writing), conciseness. Mechanics accurate - Spelling, grammar, punctuation, use of correct words Exceeds Performance Expectations 20 points Properly lists issues as questions in a logical order Accurately states conclusion and reasons why without just referencing ASC (use own words) Meets Performance Expectations 26.7 points Contains most of the relevant background information presented in a logical manner and contains little irrelevant background information. Cites the Financial Accounting Standards Board Accounting Standards Codification (ASC), paraphrases ASC in own words, ties most of the relevant facts from the case to the ASC, and concludes on each issue. To, From, Subject and Date are all mostly accurate and descriptive. Sentence structure, organization and flow of writing, proper tone usage (mostly precise, professional style of writing), conciseness. Mechanics mostly accurate - Spelling, grammar, punctuation, use of mostly correct words Meets Performance Expectations 17.8 points Properly lists most issues as questions in a logical order Mostly accurate conclusion and reasons why without just referencing ASC (use own words) Does Not Meet Performance Expectations 23.7 points Does not contain relevant background information, or did not present in a logical manner and/or contains irrelevant background information. Does not cite the Financial Accounting Standards Board Accounting Standards Codification (ASC), paraphrases ASC in own words, or does not tie the relevant facts from the case to the ASC, and/or does not conclude on each issue. Or does not submit. To, From, Subject and Date are not all accurate and descriptive. Or, sentence structure poor, or, organization and flow of writing bumpy, or improper tone (not precise or professional style of writing), was not concise. Numerous mechanics errors- Spelling, grammar, punctuation, use of correct words. Or did not submit. Does Not Meet Performance Expectations 15.8 points Did not properly lists issues as questions in a logical order or did not submit Did not state conclusion and/or reasons why or just referenced ASC (not in own words) or did not submit Criterion Score / 30 / 30 Criterion Score / 20 / 20 / 100 Writing Accounting Research Memos: An Instructional Case to Introduce the Basics Janet M. Huston Texas Tech University Janet A. Samuels Arizona State University APPENDIX A Memorandum To: The 2019 audit file of Dawson Tea and Spice Shoppe From: Re: Date: August 19, 2019 BACKGROUND/FACTS [Include all and only the relevant facts here. It is best to complete this after the analysis is completed] ISSUES/QUESTIONS Issue 1: State Issue 1 question here Issue 2: State Issue 2 question here [State the research question(s) here in a logical order. Complete this section first.] ANALYSIS Applicable guidance The guidance in Contingencies topic (ASC 450) applies to all entities (see scope guidance in Exhibit 1). The transaction that DTSS is involved in (possible payment of a lawsuit liability) does not meet any of the scope exceptions listed in subtopics ASC 450-10 (Overall) and ASC 450-20 (Loss Contingencies). Hence, subtopic ASC 450-20 is used to address the research questions. Issue 1: Restate Issue 1 question here [Analyze Issue 1 here] Issue 2: Restate Issue 2 question here [Analyze Issue 2 here] [This is the significant part with multiple steps: (1) Cite the applicable Codification reference from Exhibit 1, (2) paraphrase the guidance, (3) examine the facts and compare facts to whether they meet the guidance or not, and (4) conclude on whether the facts meet the guidance or not and what it means. If there are multiple issues, then separate each issue and organize them in the same order as they are listed in the issues section. It is best to complete this section second. After you know what facts are important for analysis, you can then list those facts in the background/facts section of the memo.] CONCLUSION/JUDGMENT [This part of your memo (a) concisely answers the research issue, (b) indicates the main reason[s] for your opinion, and (c) refers the reader to the journal entry in Exhibit 2, Presentation and Disclosure. This portion of the memo is typically prepared last.] untitled ISSUES IN ACCOUNTING EDUCATION American Accounting Association Vol. 37, No. 1 DOI: 10.2308/ISSUES-2021-017 February 2022 pp. 79–90 Writing Accounting Research Memos: An Instructional Case to Introduce the Basics Janet M. Huston Texas Tech University Janet A. Samuels Arizona State University ABSTRACT: This case introduces students to the basics of accounting research memo construction. Accounting research memos can overwhelm students because memos involve researching the Accounting Standards Codification (ASC), analyzing the issue, and writing in a specific format using a professional tone. The case involves an audit client with a lawsuit-based contingent liability. The audit team recently received the legal representation letter and needs to document the correct accounting for the lawsuit. The applicable ASC and required journal entry are provided, allowing students to focus on memo construction. The case requires students to write an accounting research memo using the provided information. Students learn the structure and creation of accounting research memos, how to paraphrase and analyze the ASC, and thus demonstrate professional writing skills. This case is appropriate for a course that introduces students to writing accounting research memos with an assessment done by the instructor or the students themselves. Keywords: accounting research memo; educational case; writing to learn; graduate research course. I. CASE G reg Dawson opened his first ‘‘Dawson Tea and Spice Shoppe’’ (DTSS) in 2002 in Tempe, Arizona. DTSS originally specialized in selling loose leaf teas, bulk spices, and brewed tea beverages. Over the years, Greg opened additional stores and now has a total of 29 stores located throughout the Southwest. With the additional stores, Greg also expanded the menu. DTSS now sells light breakfast items (scones, muffins, and croissants), sandwiches, salads, soups, and beverages (tea, coffee, espresso, and fresh fruit juices). DTSS continues to sell loose leaf tea and bulk and packaged spices. In January 2019, more than 100 DTSS customers became very ill and required hospitalization. The Centers for Disease Control (CDC) determined this was due to salmonella poisoning that was associated with salads that customers purchased and ate at DTSS. The food poisoning was so severe that some customers experienced kidney and/or liver damage. DTSS was using a new vendor, Maria’s Euro-Farms, for spinach and leafy greens in the salads, which the CDC determined was the cause of the salmonella poisoning. DTSS did not know much about Maria’s Euro-Farms other than it had low prices on produce. DTSS had not reviewed Maria’s Euro-Farms’ controls and previous issues with salmonella, and DTSS also had not cleaned the produce they received from Maria’s Euro Farms. Due to the salmonella issue, DTSS no longer uses this vendor and, in fact, Maria’s Euro-Farms has gone out of business. However, DTSS has received undesirable publicity associated with the food poisoning. This has negatively affected revenue and DTSS