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iRubric: Accounting Cycle Documentation -Part 1 rubric

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Accounting Cycle Documentation -Part 1 
Accounting Cycle Documentation -Part 1
Using text, perform the following: 1. Evaluate the student's knowledge of accounting cycle 2. Demonstrate the use of documentation 3. Understand a complex accounting problem.
Rubric Code: S5AXA3
By steking
Ready to use
Public Rubric
Subject: Accounting  
Type: Assessment  
Grade Levels: Undergraduate

Powered by iRubric GRID
100 %
  Advanced A+/A

100 pts

Proficient B+

87 pts

Partially Proficient B

80 pts

Novice C/C+

65 pts

Unsatisfactory F

60 pts

Accounting Formula & its use
10 pts

10 points
Advanced A+/A

Has been able to answer all Brief Exercises.
(10 points)
Proficient B+

Has been able to answer many of the brief excercises
(8.5 points)
Partially Proficient B

Has been able to answer few of the brief exercises with few errors
(7.5 points)
Novice C/C+

Has been able to answer few of the brief exercises but with many errors.
(6.5 points)
Unsatisfactory F

Transactions appear incomplete due to little understaning (5.5 points)
Discussion of topics in Chapter Two
10 pts

10 points
Advanced A+/A

Shows a well developed understanding of the material.
(10 points)
Proficient B+

Shows a good understanding fo the material.
(8.5 points)
Partially Proficient B

Shows a basic understanding of the material.
(7.5 points)
Novice C/C+

Shows little or no understanding of the material.
(6.5 points)
Unsatisfactory F

Shows little or no understanding of the material; does not ask for clarity; does not part-take in discussion questions.
(5.5 points)
Use of Debits & Credits
10 pts

Advanced A+/A

Shows a well developed understanding of the principles of the T account and its relation to a given activity.
(10 points)
Proficient B+

Shows a good understanding of the principles of the T account and its relation to a given activity.
(8.5 points)
Partially Proficient B

Shows a basic understanding of the principles of the T account and its relation to a given transaction.
(7.5 points)
Novice C/C+

Shows little to no understanding of the principles of the T account and its relation to a given transaction.
(6.5 points)
Unsatisfactory F

Shows little or no understanding of the principles of the T account and its relation to a given transaction; does not ask for clarity; little attempt to gain improvement with material.
(5.5 points)
Journalizing Business Transactions
15 pts

15 points
Advanced A+/A

Shows a well developed understanding of the principles of journalizing accurately in the appropriate journal.
(15 points)
Proficient B+

Shows a good understanding of the principles of journalizing accurately in the appropriate journal.
(12.75 points)
Partially Proficient B

Shows a basic understanding of the principles of journalizing accurately in the appropriate journal.
(11.25 points)
Novice C/C+

Shows little to no understanding of the principles of journalizing accurately in the appropriate journal.
(9.75 points)
Unsatisfactory F

Transactions appear incomplete. Shows little to no understanding of the principles of journalizing accurately in the appropriate journal.
(8.25 points)
Posting
25 pts

25 points
Advanced A+/A

Shows a well developed understanding of the principles of posting.
(25 points)
Proficient B+

Shows a good understanding of the principles of posting.
(21 points)
Partially Proficient B

Shows a basic understanding of the principles of posting.
(19 points)
Novice C/C+

Shows little understanding of the principles of posting.
(16 points)
Unsatisfactory F

Shows very little understanding of the principles of posting.
(14 points)
Adjusting Entries
10 pts

5 points
Advanced A+/A

Adjusting entries are completed with no errors.
(5 points))
Proficient B+

Adjusting entries are completed with no more than one errors.
(4.25 points)
Partially Proficient B

adjusting entries are included and have one error
(3.75 points)
Novice C/C+

Adjusting entries were attempted, but have several errors.
(3.25 points)
Unsatisfactory F

Adjusting entries were attempted, but not completed and with several errors.
(2.75 points)
Worksheet
10 pts

10 points
Advanced A+/A

The entire worksheet is correctly prepared with no major errors.
(10 points)
Proficient B+

The entire worksheet is correctly prepared, with no more than one major errors.
(8.5 points)
Partially Proficient B

The worksheet is completed but has more than one major error or several smaller errors.
(7.5 points)
Novice C/C+

The worksheet was clearly attempted, but is not completed correctly.
(6.5 points)
Unsatisfactory F

The worksheet was started but provides little information.
(5.5 points)
Financial Statements
5 pts

5 points
Advanced A+/A

All of the financial statements are presented with no major errors.
(5 points)
Proficient B+

All of the Financial Statements are included with no more than one major error on the complete set.
(4.25 points)
Partially Proficient B

Some of the Financial Statements are included. More than two errors on those presented.
(3.75 points)
Novice C/C+

Financial Statements are included, but contain multiple errors.
(3.25 points)
Unsatisfactory F

Financial statements were attempted but are basically incomplete.
(2.75 points)
Adjusting/Closing Entries
5 pts

5 points
Advanced A+/A

Adjusting and closing entries are completed with no errors.
(5 points)
Proficient B+

Adjusting and closing entries are completed with no more than one errors.
(4.25 points)
Partially Proficient B

Both adjusting entries and closing entries were attempted, but have several errors.
(3.75 points)
Novice C/C+

Only adjusting entries are included and have one error
(3.25 points)
Unsatisfactory F

Only adjusting entries were attempted but have several errors.
(2.75 points)
Post-Closing Trial Balance
5 pts

5 points
Advanced A+/A

The post-closing trial balance is correct, with no errors.
(5 points)
Proficient B+

The post-closing trial balance is correct, with no major errors.
(4.25 points)
Partially Proficient B

The post-closing trial balance is complete, but does not balance correctly.
(3.75 points)
Novice C/C+

The post-closing trial balance includes temporary accounts.
(3.25 points)
Unsatisfactory F

The post-closing trial was started but is basically incomplete.
(2.75 points)




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