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iRubric: Principals of Accounting I rubric
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Principals of Accounting I
Principals of Accounting I
Evaluate the student's knowledge of the accounting cycle, the rules of debits and credits, the preparation of financial statements, the trial balance, closing the books and journalizing and posting adjusting entries.
Rubric Code:
HXACW85
By
drbelli
Ready to use
Public Rubric
Subject:
Accounting
Type:
Exam
Grade Levels:
Undergraduate
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Accounting
Advanced
3 pts
Proficient
2 pts
Novice
1 pts
Unsatisfactory
0 pts
Business Transactions
Advanced
Shows an excellent understanding of business transactions. Can identify the appropriate supporting business documents. No errors.
(3 points)
Proficient
Shows a good understanding of business transactions. Can identify the appropriate supporting business documents. Few errors.
(2 points)
Novice
Shows little understanding of business transactions. Can identify a few appropriate supporting business documents. Many errors.
(1 point)
Unsatisfactory
Doesn't understand business transactions and can't identify the appropriate supporting business documents. Work is incomplete.
(0 point)
The Rules of Debits and Credits
Advanced
Shows an excellent understanding of the rules of debits and credits. Can identify the appropriate financial statement accounts, their characteristics and classifications. No errors.
(3 points)
Proficient
Shows a good understanding of the rules of debits and credits. Can identify the a few of appropriate financial statement accounts, their characteristics and classifications. Few errors.
(2 points)
Novice
Shows little to no understanding of the rules of debits and credits. Can identify very few appropriate financial statement accounts, their characteristics and classifications. Many errors.
(1 point)
Unsatisfactory
Doesn't understand the rules of debits and credits and can't identify the appropriate financial statement accounts, their characteristics and classifications. Work is incomplete.
(0 point)
Journalizing Business Transactions
Advanced
Shows a well developed understanding of the principles of journalizing accurately in the appropriate journal. Very few errors in journalizing
(3 points)
Proficient
Shows a good understanding of the principles of journalizing accurately in the appropriate journal. Few errors in journalizing
(2 points)
Novice
Shows little to no understanding of the principles of journalizing accurately in the appropriate journal. Many errors in posting
(1 point)
Unsatisfactory
Transactions appear incomplete. Shows little to no understanding of the principles of journalizing accurately in the appropriate journal.
(0 point)
Posting to Ledgers
Advanced
Shows a well developed understanding of the principles of posting and what ledgers to post to. No errors in posting
(3 points)
Proficient
Shows a good understanding of the principles of posting and what ledgers to post to. Few errors in posting
(2 points)
Novice
Shows little understanding of the principles of posting and doesn't understand what ledgers to post to.
Many errors in posting
(1 point)
Unsatisfactory
Shows very little to no understanding of the principles of posting and doesn't know the difference between the different ledgers.
(0 point)
The Trial Balance
Advanced
Preparation of the trial balance is correct, with no errors.
(3 points)
Proficient
Preparation of trial balance is correct, with few minor errors.
(2 points)
Novice
Preparation of the trial balance, but contains many errors.
(1 point)
Unsatisfactory
Student does not demonstrate an understanding of how to prepare the trial balance. Work is incomplete.
(0 point)
Financial Statements
Advanced
Preparation of financial statements are correct, with no errors.
(3 points)
Proficient
Preparation of financial statements are correct, with few minor errors.
(2 points)
Novice
Preparation of financial statements, but contains many errors.
(1 point)
Unsatisfactory
Student does not demonstrate an understanding of how to prepare the financial statements. Work is incomplete.
(0 point)
Closing the Books
Advanced
Closing the accounting books are 100% correct.
(3 points)
Proficient
Closing the accounting books, with few minor errors.
(2 points)
Novice
Closing the accounting books, with many errors.
(1 point)
Unsatisfactory
Student does not demonstrate an understanding of how the accounting books are closed. The closing of the accounting books is incomplete.
(0 point)
Adjusting Entries
Advanced
Journalizing and Posting Adjusting entries are correct, with no errors.
(3 points)
Proficient
Journalizing and Posting Adjusting entries are correct, with few minor errors.
(2 points)
Novice
Journalizing and Posting Adjusting entries but contains many errors.
(1 point)
Unsatisfactory
Student does not demonstrate an understanding of how to journalize and post Adjusting entries. The work is incomplete
(0 points)
Subjects:
Accounting
Types:
Exam
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