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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 By jfuehrme Ready to use Public Rubric Subject: Accounting Type: Assignment Grade Levels: Undergraduate

Case 2015-3 Descriptions 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