pared as a report for your supervisor.
• The report should be visually pleasing.
• As many computations as possible should be done by the model with the exception of entering the original financial state ment data.
• The report should utilize “macros” and other built-in features found in Excel.
Milestone One: Initial Model
In task 5-1, you will submit the initial Excel model for the report that shows the consolidation entries and the final income statement and balance sheet. This milestone will be graded using the Final Project Milestone One Rubric.
Milestone Two: Model and Exchange Rates
In task 8-2, you will translate the consolidated income statement and balance sheet from English pounds to U.S. dollars. This milestone will be graded using the Final Project Milestone Two Rubric.
Milestone 3: Final Report
In task 10-4, you will submit the final report as an attractive, polished artifact that includes all the main elements of the final product. The report should reflect the incorporation of feedback gained throughout the course. This milestone will be graded using the Final Report Rubric (below).
Below you will find the trial balance for Parent Company and its wholly owned purchase, Subsidiary Company, as of December 31, 2012. The financial statements are denominated in British pounds.
Investment in Subsidiary
Debt Service Fund
Long-Term Notes Payable
Cost of Goods Sold
1. Subsidiary Company’s assets and liabilities are all shown at fair value except for:
a. The fair value of Inventory is 32,000.
b. The fair value of Depreciable Assets is 370,000. item that is in Parent Company’s inventory for
10,000 and cost Subsidiary Company 5,000. The sale was made to Parent Company on credit, and no payment has been made.
Other Important Information:
2. Subsidiary company sold Parent Company an
3. On December 27, 2012, Parent Company made a long-term loan to Subsidiary Company in the
amount of 100,000.
4. Subsidiary Company paid Parent Company 7,000 for Consulting Services. Subsidiary Com pany considers this an Administrative Expense, and Parent Company considers it Sales Revenue.
5. Exchange rates are:
March 31, 2012 Exchange Rate 1 £ = $1.24
Average Rate for 2012
1 £ = $1.22
December 31, 2012 Exchange Rate
Final Report Rubric
Requirements of submission: The project must be in Excel format, using as many calculations in Excel as possible.
Analysis of Data
Well-developed, accurate, and effective analysis of the data for purpose and consolidation (32-35)
Proficient Accurate and effective analysis of the data for purpose and consolidation
Emerging Accurate analysis of the data for purpose and consolidation
Accuracy of Model
The report includes useful, clear models with no errors or omissions (32-35)
The report includes models with several errors or omissions
Effective Use of Excel (Macros, Formulas)
All items that can be computed are computed with Excel
Design and layout are professional, visually striking, clear, and uncluttered (14-15)
The report includes useful, clear models with a few minor errors or omissions (28-31)
Most items that can be computed are computed with Excel (12-13)
Design and layout are generally professional and visually appealing (12-13)
Report Design and Layout
Some items that can be computed are computed with Excel
Design and layout are somewhat professional and visually acceptable
The report does not include an accurate analysis of the data for purpose and consolidation
The report contains multiple serious errors or omissions (0-24)
Few items that can be computed are computed with Excel (0-10)
Design and layout are unprofessional