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ACC 690: Final Project Guidelines and Grading Guide:
Consolidation Model
Overview
The final project for this course is the creation of an Excel spreadsheet model that shows the consolidation worksheet, intercompany elimination entries, other consolidation entries, and the final income statement and balance sheet for a sample parent and subsidiary company. The project is divided into three milestones, which will be submitted at various points throughout the course to scaffold learning and ensure quality final submissions. These milestones will be submitted in Modules Five, Eight, and Ten.
GuidelinesThe Model Assignment:
Students will be given the description of a parent company and a subsidiary company along with the two firms’ trial balances at book value as of December 31, 2012, the end of the year for both firms. (See Company Information below.)
The financial data will be presented in English pounds as local currency.
Other data pertaining to the consolidation is also to be provided.
The student will analyze the data for purpose of consolidation.
The student will create a useful Excel model that shows the consolidation worksheet, intercompany elimination entries, other consolidation entries, and the final income statement and balance sheet.
Using the consolidated financial statements created, students will then use Excel modeling to translate the consolidated income statement and balance sheet from the English pounds to U.S. dollars based on exchange rates provided. (The U.S. dollar is the functional
