accounting cycle and each nine steps

Accounting Cycle Written Assignment

At this point, you should have an understanding of the basic foundation of accounting. The steps to the accounting cycle are crucial to the success and accuracy of preparing financial information for internal and external stakeholders.

When sharing information about your studies with your friends and family, suppose one of them asks you about your accounting course. How would you explain each of the steps of the accounting cycle to them if they have little or no knowledge of accounting?

You are to write a 2–4 page paper explaining the accounting cycle and each of the nine steps.

This should be done in APA with citations and references.  Here is the grading rubrick

At this point, you should have an understanding of the basic foundation of accounting. The steps to the accounting cycle are crucial to the success and accuracy of preparing financial information for internal and external stakeholders.  When sharing information about your studies with your friends and family, suppose one of them asks you about your accounting course. How would you explain each of the steps of the accounting cycle to them if they have little or no knowledge of accounting?  You are to write a 2–4 page paper explaining the accounting cycle and each of the nine steps.  Your paper should be in terms that someone without much knowledge of accounting can understand. You should address what information is needed and how it is processed at each step. Be sure to address the consequences of inaccuracies and the ramifications of omitting any of the steps. An introduction and conclusion should be included in your paper. This Assignment should be typed and follow APA guidelines for document format and citations of resources. For APA resources and assistance, please visit the Kaplan University Writing Center at https://kucampus.kaplan.edu/Platform/AcademicSupport/AcademicSuccess/PeerTutoring/Writing/WritingCente r.aspx.  The following checklist will assist you with completing this Assignment:  1.  Introduction – provide background information and an overview of the accounting cycle 2.  The Accounting Cycle: 9 Steps – provide an explanation of each of the nine steps, address the information needed and how it is processed at each step, provide information regarding the consequences of inaccuracies or the effect of leaving out individual steps 3.  Conclusion – summarizes the accounting cycle and provides a review of the importance of following the steps and providing accurate financial information  Also, make sure the paper provides these critical elements:  • Write your original response in Standard English, paying special attention to grammar, style and mechanics. • Respond to the questions in a thorough manner, providing specific examples of concepts and topics from the checklist. • Ensure that your viewpoint and purpose are clearly stated. • Demonstrate logical and appropriate transitions from one idea to another. • Your paper should be highly organized, logical and focused.   
Submit your Assignment to the Unit 9 Assignment Dropbox.
Unit 9 [114: Accounting I]
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Unit 9 Writing Assignment Grading Rubric  Grade Content, Focus, Use of Text/Research 50% Analysis and Critical Thinking 30%
Writing Style, Grammar, APA Format 20%
90–100% (45 – 50 points)
Student has successfully provided an introduction, explanation of the nine steps to the accounting cycle, and a conclusion.
The paper addresses the information needed and how it is processed at each of the nine steps. Indications of what would happen if information were inaccurate or omitted at eight of the nine steps is included.
Sentences are clear, concise, and direct; tone is appropriate. Grammatical skills are strong with almost no errors per page. Correct use of APA format when assigned.
80–89% (40 – 46 points)
Student provided an introduction and conclusion. Explanation of at least eight of the nine steps in the accounting cycle was included in the assignment.
The paper addresses the information needed and how it is processed at seven of the nine steps. Indications of what would happen if information were inaccurate or omitted at six of the nine steps is included.
Sentences are generally clear, concise, and direct; tone is appropriate. Grammatical skills are competent with very few errors per page. Correct use of APA format when assigned.
70–79% (35 – 41 points)
Student provided an introduction and conclusion. Explanation  of seven of the nine steps in the accounting cycle is included in the assignment.
The paper addresses the information needed  and how it is processed at seven of the nine steps. Indications of what would happen if information were inaccurate or omitted at four of the nine steps is included.
Sentences are occasionally wordy or ambiguous; tone is too informal. Grammatical skills are adequate with few errors per page. Adequate use of APA format when assigned.
60–69% (30 – 36 points)
Student provided an introduction and conclusion. Explanation of six of the nine steps in the accounting cycle is included in the assignment.
The paper addresses the information needed and how it is processed at six of the nine steps. Indications of what would happen if information were inaccurate or omitted at three of the nine steps is included.
Sentences are generally wordy and/or ambiguous; tone is too informal. Grammatical skills are inadequate, clarity and meaning are impaired, numerous errors per page. Inadequate use of APA format when assigned.
0 – 59% (0 – 29 points)
Student is missing an introduction or conclusion. Explanation of five or less of the nine steps in the accounting cycle is included in the assignment.
The paper addresses the information needed and how it is processed at five or less of the nine steps. Indications of what would happen if information were inaccurate or omitted at two or less of the nine steps is included.
Sentences unclear enough to impair meaning; tone is inappropriate and/or inconsistent. Grammatical skills are inadequate for college level. Unacceptable use of APA format when assigned.