ACCT-513_Y Not Flowers Project Instructions_June 2021 (4)

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Olivet Nazarene University *

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513

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Accounting

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May 27, 2024

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ACCT-513 Accounting Information Systems Y Not Flowers Comprehensive Project Instructions Background Forrest runs Y Not Flowers, Inc. (YNF) , a wholesale flower distributor with stores in several major metropolitan areas of the U.S. He is considering expanding his business, but he thinks his current accounting and financial systems are restricting that expansion. He also worries that YNF is not adequately prepared to face expected business risks. He has come to you for assistance. Instructions Your supervisor met with Forrest and discussed his requirements in detail. At that meeting, they agreed on the following deliverables for your project. 1. Document process activity using BPMN. After gaining an understanding of YNF’s business processes, you will document current processes using business process modeling notation (BPMN). This involves documenting two current business processes, sales and purchases. These diagrams will serve multiple purposes. YNF expects to use them to train new employees. Plus, they will provide information about potential improvements to those processes by the efficient use of information technology. Additionally, they will also highlight areas where YNF is exposed to unnecessary risks in his business. Two examples are shown in Appendix 1. 2. Prepare an integrated data model using UML class diagrams and the REA framework. 3. Forrest has agreed to provide financial data from his business for the 1 st quarter of his fiscal year. That data will be in EXCEL format. You will need to perform several calculations and queries in Excel to complete the income statement for the 1 st quarter. 4. Prepare the income statement for each store for the 1 st quarter using the YNF data. You will use Excel formulas and functions to organize the data to populate the cells in the ACCT-513_YNF_Template following these steps: a. Calculate sales: i. Calculate total sales and associate the date of the sale with the sales amount. ii. Subtotal 1 st quarter sales by store. iii. Enter the results into the ACCT-513_YNF_Template. b. Calculate COGS: i. Calculate the total of each purchase and associate the date of the purchase with the purchase amount. ii. Subtotal 1 st quarter purchases by store. iii. Enter the results into the ACCT-513_YNF_Template. c. Calculate payroll expense by store: i. Payroll expense = gross pay + employer Fica + employer MC. ii. Enter the results into the ACCT-513_YNF_Template. d. Calculate the administrative by store: i. Subtotal purch/misc sheet by store. ii. Enter the results into the ACCT-513_YNF_Template. e. Calculate truck depreciation: i. Divide annual depreciation by 4. ii. Sort and subtotal by store. iii. Enter the results into the ACCT-513_YNF_Template. f. Calculate building depreciation:

ACCT-513 Accounting Information Systems Y Not Flowers Comprehensive Project Instructions i. Same steps as truck depreciation g. Calculate gross profit% h. Calculate sg&a% i. Calculate inc% j. Other performance measures that you believe YNF should adopt. 5. Evaluate the financial performance of YNF for the 1 st quarter. Use Excel formulas and functions to also prepare a formal income statement (in total) and compute appropriate ratios to evaluate performance and past performance using the YNF financial history data. Clearly explain what those ratios and trends mean for Mr. Z’s business. 6. Assess compliance with COSO principles. Assess Y Not Flowers compliance with the 17 COSO principles. 7. Recommend changes to YNF business processes to make it more effective and efficient. Report to YNF You will submit all the deliverables in one report to YNF at the end of the project. The report should be professionally prepared in a one-page poster format. Several examples are provided. The appendices or attachments should include financial statements, data model and activity diagrams, and other information necessary to support your analyses and conclusions. The content of the report should be clear to an accounting novice such as Forrest. Most of the content should be presented using tables, charts, and bullet points. You should avoid long paragraphs. The poster report should include the following information:  Short introduction  Financial performance review o Summary revenue and income information o Table with appropriate ratio information o Table and charts with store performance comparison o Other performance measures  Chart performance trends  Table with other recommended measures  Risk and control review o Summary of findings o Table analyzing compliance with COSO principles and recommendations  Recommended changes o Recommend five changes to improve efficiency and effectiveness of processes and references to specific BPMN changes  Appendices o Income statement o REA model o BPMN models o Other Interim Submissions

ACCT-513 Accounting Information Systems Y Not Flowers Comprehensive Project Instructions Even though you will submit all the deliverables in one report to YNF, you will make the following submissions: WS4: BPMN Diagrams WS5: UML Class Diagram WS6: Complete report to YNF Grading Rubric Criteria Level 4 Level 3 Level 2 Level 1 Compliance with COSO Principles (40 points possible) You demonstrated clear, insightful critical thinking and provided a detailed explanation in analyzing Y Not Flowers compliance with the 17 COSO principles and summarized your findings in an accurate and easy to read table. (32-39 points possible) You demonstrated competent critical thinking and provided a basic explanation in analyzing Y Not Flowers compliance with the 17 COSO principles. You summarized your findings in a table that contained some errors. (20-31) points possible) You demonstrated limited critical thinking and provided little explanation in analyzing Y Not Flowers compliance with the 17 COSO principles. The table that summarized the findings was either incomplete, or incorrect. (0-19 points possible) You demonstrated little to no critical thinking and provided little if any explanation in analyzing Y Not Flowers compliance with the 17 COSO principles. The table that summarized the findings is incomplete and incorrect. Criteria Level 4 Level 3 Level 2 Level 1 Poster Report (40 points possible) You demonstrated clear, insightful critical thinking and provided a detailed explanation in preparing a poster report with the required sections. (32-39 points possible) You demonstrated competent critical thinking and provided a basic explanation in preparing a poster report with the required sections and some errors. (20-31) points possible) You demonstrated limited critical thinking and provided little explanation in preparing a poster report with the required sections that was either incomplete, or incorrect. (0-19 points possible) You demonstrated little to no critical thinking and provided little if any explanation in preparing a poster report with the required sections that was incomplete or

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ACCT-513 Accounting Information Systems Y Not Flowers Comprehensive Project Instructions The document has a highly professional and polished appearance. You make excellent use of formatting that enhances readability and content. The document has a professional appearance but lacks some professional elements. You make good use of formatting to enhance the readability and content. The document’s appearance detracts from its professional effectiveness in several places. You make some use of formatting to enhance the readability and content. incorrect. The document’s appearance is unprofessional and detracts from its effectiveness. Formatting is missing or severely insufficient. Criteria Level 4 Level 3 Level 2 Level 1 Incorporated Instructor’s Feedback (25 points possible) You demonstrated clear, insightful critical thinking and provided a detailed explanation by incorporating feedback from your instructor about your BPMN Diagram (WS3), UML Class Diagram (WS4), and Income Statement & Balance Sheet (WS5) into your final report. (20-24 points possible) You demonstrated competent critical thinking and provided a basic explanation by incorporating most of the feedback from your instructor about your BPMN Diagram (WS3), UML Class Diagram (WS4), and Income Statement & Balance Sheet (WS5) into your final report. (13-19) points possible) You demonstrated limited critical thinking and provided little explanation by incorporating some of the feedback from your instructor about your BPMN Diagram (WS3), UML Class Diagram (WS4), and Income Statement & Balance Sheet (WS5) into your final report. (0-12 points possible) You demonstrated little to no critical thinking and provided little if any explanation by incorporating little to no feedback from your instructor about your BPMN Diagram (WS3), UML Class Diagram (WS4), and Income Statement & Balance Sheet (WS5) into your final report. Criteria Level 4 Level 3 Level 2 Level 1 Financial Performance Review (25 points possible) You demonstrated clear, insightful critical thinking and provided a (20-24 points possible) You demonstrated competent critical thinking and provided a basic (13-19) points possible) You demonstrated limited critical thinking and provided little (0-12 points possible) You demonstrated little to no critical thinking and provided little if

ACCT-513 Accounting Information Systems Y Not Flowers Comprehensive Project Instructions detailed explanation in evaluating the financial performance of Y Not Flowers using Excel formulas and functions to compute appropriate ratios to evaluate current and past performance, and clearly explain what those ratios mean for Mr. Z’s business. explanation in evaluating the financial performance of Y Not Flowers using Excel formulas and functions to compute appropriate ratios to evaluate current and past performance, and clearly explain what those ratios mean for Mr. Z’s business. The analysis contained some errors. explanation in evaluating the financial performance of Y Not Flowers using Excel formulas and functions to compute appropriate ratios to evaluate current and past performance, and clearly explain what those ratios mean for Mr. Z’s business. The analysis was either incomplete, or incorrect. any explanation in evaluating the financial performance of Y Not Flowers using Excel formulas and functions to compute appropriate ratios to evaluate current and past performance, and clearly explain what those ratios mean for Mr. Z’s business. The analysis was incomplete and incorrect. Criteria Level 4 Level 3 Level 2 Level 1 Recommende d Changes (25 points possible) You demonstrated clear, insightful critical thinking and provided a detailed explanation of your recommended changes to YNF business processes to make it more effective and efficient. (20-24 points possible) You demonstrated competent critical thinking and provided a basic explanation of your recommended changes to YNF business processes to make it more effective and efficient. Most of the recommendations were actionable. (13-19) points possible) You demonstrated limited critical thinking and provided little explanation of your recommended changes to YNF business processes to make it more effective and efficient. The recommendations were either incomplete, or not actionable. (0-12 points possible) You demonstrated little to no critical thinking and provided little if any explanation of your recommended changes to YNF business processes to make it more effective and efficient. The recommendations are incomplete and not actionable. Criteria Level 4 Level 3 Level 2 Level 1 Appropriate Appendices (25 points possible) (20-24 points possible) (13-19) points possible) (0-12 points possible)

ACCT-513 Accounting Information Systems Y Not Flowers Comprehensive Project Instructions You demonstrated clear, insightful critical thinking and provided a detailed explanation by attaching appendices appropriate for the contents of your poster report. You demonstrated competent critical thinking and provided a basic explanation by attaching appendices appropriate for the contents of your poster report. The appendices contained some errors. You demonstrated limited critical thinking and provided little explanation by attaching appendices appropriate for the contents of your poster report. The appendices were either incomplete, or incorrect. You demonstrated little to no critical thinking and provided little if any explanation by attaching appendices appropriate for the contents of your poster report. The appendices are incomplete and incorrect. Grammar, spelling, length, and citation (20 points possible) Your sentence structure is complete with correct spelling, punctuation, capitalization, varied diction, and work choices. Your assignment length is correct. (16-19 points possible) Your sentence structure has minor errors (fragments, run- ons) with correct spelling, punctuation, capitalization, and limited diction and word choices. Your assignment length is correct. (10-15 points possible) Your sentence structure has several errors in sentence fluency with multiple fragments/run- ons, poor spelling, punctuation, and/or word choice. Your assignment length is inappropriate. (0-9 points possible) Your sentence structure has serious and persistent errors in sentence fluency, sentence structure, spelling, punctuation, and/or word choice. Your assignment length is inappropriate.

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ACCT-513 Accounting Information Systems Y Not Flowers Comprehensive Project Instructions Appendix 1 YNF Miscellaneous/Administrative Purchases This process describes ordering miscellaneous/administrative items and the corresponding monthly payments. It could be enhanced with data objects for the incoming invoice/bill and the outgoing check. YNF Timekeeping and Payroll This is a simple version of YNF’s payroll process. The looping activity shows employees working and recording time during the month. The Payroll Process is described as a collapsed subprocess. It could be enhanced with data objects for the timecards, checks, and payroll records.