The Financial Accounting II rubric for Undergraduate Year 3 (Junior) students is designed to assess and reinforce advanced accounting principles and practices essential for professional development. This course builds on foundational knowledge from Financial Accounting I; focusing on complex topics such as long-term liabilities; equity transactions; investments; revenue recognition; and financial statement analysis. Students will develop a deeper understanding of Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS); ensuring they can apply these frameworks to real-world scenarios. The rubric evaluates students on their ability to prepare and interpret financial statements; analyze accounting transactions; and demonstrate critical thinking in problem-solving. Key learning outcomes include mastering the accounting cycle for corporations; understanding the impact of debt and equity financing; and applying advanced revenue recognition criteria. Through case studies and practical exercises; students will enhance their analytical skills and ability to communicate financial information clearly and accurately. Assessment criteria include accuracy in journal entries; adherence to accounting standards; and the ability to justify accounting decisions. Students will also be evaluated on their proficiency in using accounting software and tools to streamline financial reporting. By the end of the course; students will be equipped with the technical and analytical skills necessary for careers in accounting; finance; or auditing. The rubric ensures a structured approach to learning; providing clear expectations and measurable outcomes to support academic and professional growth. This course prepares students for advanced accounting coursework and professional certifications such as the CPA or CMA.
