Revenue Recognition at TSA, Inc. A Roller Coaster Ride
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages
Revenue Recognition at TSA, Inc. A Roller Coaster Ride
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- Project 2: Revenue Recognition at TSA, Inc. – A Roller Coaster Ride
In this project, you will research the FASB Codification to make decisions relevant to recognizing revenue according to ASC 606 and ASU 2014-09. The project includes a group component to reflect the collaborative nature of accountants who must work together to determine the timing and proper implementation of new and updated accounting standards.
You did such a great job on Project I that your company’s controller (the professor) now feels confident you can conduct professional accounting research using the FASB Accounting Standards Codification. Specifically, the controller is interested in the revenue recognition accounting at TSA, Inc. The company’s primary focus is on software development and marketing. The controller encourages you to use your critical thinking skills to make effective decisions regarding the recording and reporting of revenue.
Your boss (instructor) will be setting up an online discussion group and assigning you and a few of your colleagues(students) to a group. In your online discussion group, you may discuss the case issues and collaboratively decide how to account for the revenue recognition issues presented in the case. Each person will be required to write and submit his/her own report, but you may share your research and brainstorm the case issues within the discussion group.
Eager to prove you’re a born researcher with the writing skills of Charles Dickens, you begin planning the process you’ll use to impress the controller. You plan to submit a draft of your report to the editing department (graduate writing tutors) before delivering your final work to the Controller.
III. Steps to Completion: Step 1 – Read the case study and review the requirements for Revenue Recognition at TSA, Inc., which is posted in: Content/Course Resources/Projects & Rubrics/Project 2 Case Review.
- Case Citation:
- Chandra, U., Dutta, S., & Marcinko, D. (2018) Revenue Recognition at TSA, Inc. – A Roller Coaster Ride. Issues in Accounting Education: August 2018, Vol. 33, No. 3, pp. 101-116.
Step 2 – Conduct accounting research using the FASB Codification
- Introduce yourself to your colleagues in the Online Study Group Discussion and begin to discuss how you plan to work collaboratively to research the case issues and make decisions, which you will use to write your individual paper. The case is complex and requires students of diverse backgrounds to contribute to making the correct determination.
- Login credentials to the FASB Accounting Standards Codification (ASC) and the link are provided in Course Resourcessection in the classroom in the FASB’s ASC, GARS and COSOmodule .
- Research the FASB ASC 606 and ASU 2014-09 for guidance on revenue recognition issues.
- Brainstorm with your colleagues in the Online Study Group Discussions to enhance your final deliverable.
- To deepen your understanding of the FASB ASC topics related to case issues, read the appropriate sections in Wiley GAAP 2018: Interpretation & Application of GAAP.
- Research the UMUC library to find current articles in academic journals related to the case issues.
Step 3 – Complete case requirements
- Complete Case Requirementnumbers 1 and 2, which begin on page 6.
Milestone 1: Optional opportunity to receive feedback on Case Requirements 1 and 2, in advance of submitting your final file for a grade.
- Complete Case Requirementnumbers 3, and 7
- Report for your boss
- Use APA style formatting
- Approximate length of the report using APA style is 6 – 8 pages
- Correct spelling is mandatory
- Grammar must be clear, correct, and concise
- Hints and Tips:
- As your professor, please note that I have very little interest in reading what others in the field have written. It is fine to quote sources to illustrate or support your own thoughts, however, every graded assessment in graduate accounting courses will be based on the content you have thought about and you have written in your own words. To properly guide you, I need to read your thoughts and interpretations and observe you making presentations which demonstrate your comprehension of the learning goals and ability to perform the competencies.
- Read the grading rubric before beginning the project to fully understand the requirements; ask questions about the requirements if needed.
- Review and refresh your memory of APA style formatting 3-4 weeks before the assignment is due. The resources may be helpful:
- Writing a research paper: https://owl.english.purdue.edu/owl/resource/658/01/
- APA: https://owl.english.purdue.edu/owl/section/2/10/
- Developing your graduate level writing skills: https://owl.english.purdue.edu/owl/section/1/2/
- What Constitutes Graduate Level Writing; source unknown. In LEO, Content, Course Resources, Project 2.
- Demonstrate through your writing that you have gained a/an:
- deeper understanding of the FASB ASC guidelines for the development of internal-use software to be marketed and sold to external users,
- applied judgment and decision-making skills to the complex scenario described in the case study and have enhanced your professional research skills using the UMUC library, FASB ASC, and other academic resources.
- Prepare a draft version of your report 2 weeks before it is due.
- Ask a classmate, friend, or family member to read your report before submitting it to the Graduate Writing Center.
- Use the Graduate Writing Center:
- Submit your draft to the Graduate Writing Center at least 1 week before the project is due. This FREE resource can be accessed in your LEO classroom.
- Make edits to your report after reviewing feedback from the writing center tutors.
- Note: Failure to submit your document to the Graduate Writing Center and or failure to improve your document based on guidance from the writing tutors, before submitting the final version is unwise.
- Submit the deliverable on or before the due date.
- Ask your professor questions as needed.
You will find the rubric in LEO under Contents>Course Resources>Projects & Rubrics
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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