ACC 690 Final Project Milestone Two: Model and Exchange Rates

Question

ACC 690 Final Project Milestone Two: Model and Exchange Rates

Question # 00099081 Posted By: jia_andy Updated on: 08/31/2015 02:46 PM Due on: 01/27/2016

Subject Business Topic General Business Tutorials:

Question

Southern Hampshire University ACC 690

Final Project Milestone Two: Model and Exchange Rates Rubric

For Milestone Two, you will translate the consolidated income statement and balance sheet from English pounds to U.S. dollars. The milestone will be graded using the rubric below.

Requirements of submission: The project must be in Excel format, using as many calculations in Excel as possible.

refer attachments for details

The final project for this course is the creation of an Excel spreadsheet model that shows the consolidation worksheet, intercompany elimination entries, other consolidation entries, and the final income statement and balance sheet for a sample parent and subsidiary 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 Four, Seven, and Nine.

Assume the following when completing the project:

Assume that the parent owned the subsidiary for the entire year for which financial statements are being prepared. The scenario indicates that as of December 31, there is a difference between book value and fair value for inventory and depreciable assets. Assume that these differences existed at the date of acquisition. Record only the differential and do not worry about amortization of the differential. Prepare the consolidation worksheet using the equity method. Assume that the trial balance was prepared prior to any entry the parent company made to record the net loss from the subsidiary.

Attachments

ACC_milestone_2.docx (152.13 KB)

FINAL_PROJECT_ACC.docx (165.79 KB)

ACC_690_PROJECT.xls (49.5 KB)