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iRubric: Accounting Cycle rubric

iRubric: Accounting Cycle rubric

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Accounting Cycle 
Accounting Cycle
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: P9W632
By crakeyparekoy
Ready to use
Public Rubric
Subject: Accounting  
Type: Assessment  
Grade Levels: 9-12

Powered by iRubric Monopoly Simulation
  Advanced

(N/A)

Proficient

(N/A)

Novice

(N/A)

Unsatisfactory

(N/A)

Journalizing Business Transactions

20 points
Advanced

Shows a well developed understanding of the principles of journalizing accurately in the appropriate journal.
(20-15 points)
Proficient

Shows a good understanding of the principles of journalizing accurately in the appropriate journal.
(14-10 points)
Novice

Shows little to no understanding of the principles of journalizing accurately in the appropriate journal.
(9-5 points)
Unsatisfactory

Transactions appear incomplete. Shows little to no understanding of the principles of journalizing accurately in the appropriate journal.
(4-0 points)
Posting to Ledgers

15 points
Advanced

Shows a well developed understanding of the principles of posting.
(15-11 points)
Proficient

Shows a good understanding of the principles of posting.
(10-7 points)
Novice

Shows little understanding of the principles of posting.
(6-3 points)
Unsatisfactory

Shows very little understanding of the principles of posting.
(2-0 points)
Cash at End of Play

5 points
Advanced

Cash at the end of play balanced with cash ledger each day.
(5 points)
Proficient

Cash at the end of play balanced with cash ledger on 2 of the 3 days.
(4 points)
Novice

Cash at the end of play balanced with cash ledger on 1 of the 3 days.
(2 points)
Unsatisfactory

Cash at the end of play did not balance with cash ledger on any of the days.
(1 points)
Worksheet

20 points
Advanced

The entire worksheet is correctly prepared with no major errors.
(20-15 points)
Proficient

The entire worksheet is correctly prepared, with no more than one major errors.
(14-10 points)
Novice

The worksheet was clearly attempted, but is not completed correctly.
(9-5 points)
Unsatisfactory

The worksheet was started but provides little information.
(4-0 points)
Income Statements

10 points
Advanced

Income statement is presented with no errors.
(10-8 points)
Proficient

Income statement is included with no major errors.
(7-5 points)
Novice

Income statement is included, but contain multiple errors.
(4-2 points)
Unsatisfactory

Income statement was attempted but are basically incomplete.
(1-0 points)
Statement of Changes in OE

10 points
Advanced

Statement of Changes in OE is completed with no errors.
(10-8 points)
Proficient

Statement of Changes in OE is completed with no major errors.
(7-5 points)
Novice

Statement of Changes in OE is included and have one error
(4-2 points)
Unsatisfactory

Statement of Changes in OE was attempted but have several errors.
(1-0 points)
Balance Sheet

10 points
Advanced

Balance sheet is completed with no errors.
(10-8 points)
Proficient

Balance sheet is completed with no major errors.
(7-5 points)
Novice

Balance sheet is included and have one error
(4-2 points)
Unsatisfactory

Balance sheet was attempted but have several errors.
(1-0 points)
Post-Closing Trial Balance

10 points
Advanced

The post-closing trial balance is correct, with no errors.
(10-8 points)
Proficient

The post-closing trial balance is correct, with no major errors.
(7-5 points)
Novice

The post-closing trial balance includes temporary accounts.
(4-2 points)
Unsatisfactory

The post-closing trial was started but is basically incomplete.
(1-0 points)




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