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iRubric: Revenue Recognition Case 2015-3 rubric


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Revenue Recognition Case 2015-3 
Principal vs. Agent Case
Rubric Code: XX3B2CB
Ready to use
Public Rubric
Subject: Accounting  
Type: Assignment  
Grade Levels: Undergraduate

Powered by iRubric Case 2015-3
Revenue Recognition - Gross vs. Net
  Exceeds Expectations

6 pts

Meets Expectations

4 pts

Does Not Meet Expectations

2 pts

General

Five Step Revenue Recognition Process

Exceeds Expectations

Understands the application of the process and includes all appropriate ASC references
Meets Expectations

Generally understands the application of the process but does not integrate the necessary ASC references
Does Not Meet Expectations

Does not address the five step process; does not go beyond the minimums asked in the case questions
Issue

Performance Obligations

Exceeds Expectations

Appropriately identifies this as a question of "principal vs agent"
Meets Expectations

Identifies the issue but does not demonstrate an understanding of its implications for recognition of revenue
Does Not Meet Expectations

Does not recognize or address the issue resident in this case
References

Professional Literature

Exceeds Expectations

Identifies all appropriate literature pertinent to the case situation
Meets Expectations

Identifies some of the appropriate literature but omits key portions relevant to the case
Does Not Meet Expectations

Does not identify the appropriate literature
Discussion

Analysis and Conclusion

Exceeds Expectations

Presents a logical, thorough analysis of the case; conclusions follow clearly from the discussion
Meets Expectations

Analysis is superficial; conclusions are stated but not well supported
Does Not Meet Expectations

Analysis is incomplete or illogical; conclusions do not follow the analysis
Entries

Revenue Presentation and Journal Entries

Exceeds Expectations

Presentation and related journal entries follow clearly from the discussion
Meets Expectations

Journal entries are inconsistent with the discussion
Does Not Meet Expectations

Presentation and related journal entries do not follow logically; journal entries are incomplete or not correct



Keywords:
  • Principal Agent Revenue Gross Net

Subjects:

Types:





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