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iRubric: Principals of Accounting I rubric

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: ZXBCBC6
By TArends
Ready to use
Public Rubric
Subject: Accounting  
Type: Assessment  
Grade Levels: Undergraduate

Powered by iRubric Accounting
  Advanced

4

(N/A)

Proficient

3

(N/A)

Developing

2

(N/A)

Beginning

1

(N/A)

Analyzing Business Transactions

Advanced

Shows an excellent understanding of business transactions. Can identify the appropriate supporting business documents. No errors.
Proficient

Shows a good understanding of business transactions. Can identify the appropriate supporting business documents. Few errors.
Developing

Shows little understanding of business transactions. Can identify a few appropriate supporting business documents. Many errors.
Beginning

Doesn't understand business transactions and can't identify the appropriate supporting business documents. Work is incomplete.
Journalizing Business Transactions

Advanced

Shows a well developed understanding of the principles of journalizing accurately in the appropriate journal. Very few errors in journalizing
Proficient

Shows a good understanding of the principles of journalizing accurately in the appropriate journal. Few errors in journalizing
Developing

Shows little to no understanding of the principles of journalizing accurately in the appropriate journal. Many errors in posting
Beginning

Transactions appear incomplete. Shows little to no understanding of the principles of journalizing accurately in the appropriate journal.
Posting to Ledgers

Advanced

Shows a well developed understanding of the principles of posting and what ledgers to post to. No errors in posting
Proficient

Shows a good understanding of the principles of posting and what ledgers to post to. Few errors in posting
Developing

Shows little understanding of the principles of posting and doesn't understand what ledgers to post to.
Many errors in posting
Beginning

Shows very little to no understanding of the principles of posting and doesn't know the difference between the different ledgers.
Adjusting Entries

Advanced

Journalizing and Posting Adjusting entries are correct, with no errors.
Proficient

Journalizing and Posting Adjusting entries are correct, with few minor errors.
Developing

Journalizing and Posting Adjusting entries but contains many errors.
Beginning

Student does not demonstrate an understanding of how to journalize and post Adjusting entries. The work is incomplete
Closing the Books

Advanced

Closing the accounting books are 100% correct.
Proficient

Closing the accounting books, with few minor errors.
Developing

Closing the accounting books, with many errors.
Beginning

Student does not demonstrate an understanding of how the accounting books are closed. The closing of the accounting books is incomplete.
Financial Statements

Advanced

Preparation of financial statements are correct, with no errors.
Proficient

Preparation of financial statements are correct, with few minor errors.
Developing

Preparation of financial statements, but contains many errors.
Beginning

Student does not demonstrate an understanding of how to prepare the financial statements. Work is incomplete.




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