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ACC 345 Module Two Assignment Guidelines and Rubric Overview Accountants must be familiar with �nding and interpreting data in a company’s balance sheet and income statement. They will take these documents and create a condensed version showing multiple years to review changes. It is important for accountants to understand the categories of the balance sheet and income statement, and the types of ratios discussed in the �nancial statements. This information is reported to stakeholders by accountants. Directions Use Nike’s SEC 2022 10-K �ling in the Supporting Materials section to complete this assignment. There are two parts for this assignment: the condensed �nancial statements and the summary. Module Two Workbook Template In the condensed �nancial statements part of this assignment, you will use the company’s Securities and Exchange Commission (SEC) 2022 10-K �ling to build a condensed version of the balance sheet and income statement in the Module Two Workbook Template linked in the What to Submit section. The SEC 2022 10-K �ling will provide three years of income statements and only two years of balance sheets. You will need to �nd Nike’s 2020 Form 10-K �ling on the SEC website to pull the 2020 balance sheet to complete the template. Categories will be different than what you �nd in the annual report. Use your best judgement when classifying them. If you need to lump certain costs together, then do so. Make certain you keep accounts in the correct category (i.e., current assets, non-current assets, current liabilities, long term liabilities, and owner’s equity). Each of these sections has an “other” category you can use. It is important to use the correct categories to have ratios calculate correctly. For example, the company shows cost of sales of $100K, general and administrative (G&A) expenses of $50K, and marketing expense of $10K. Combine the G&A and marketing expenses in the single line on the income statement called “Sales, General, and Administrative Expenses” in the amount of $60K. The template will provide a check digit for the Balance Sheet and Income Statement tabs. It will help with ensuring the Balance Sheet tab is balanced and the Income Statement tab net income is correct before tax. In the template, the ratios auto-calculate. You will not need to analyze the Ratio tab for historical data. You will only use the Ratio tab for explanatory purposes to complete the Module Two Summary Template. Note: You may choose to complete an assignment using a desktop program instead of SNHU's virtual desktop (VDI); however, technical support will not be provided by SNHU if you select this option. Module Two Summary Template Complete Module Two Summary Template linked in the What to Submit section. Speci�cally, you must address the following rubric criteria: https://app.readspeaker.com/cgi-bin/rsent?customerid=9568&url=https%3A%2F%2Flearn.snhu.edu%2Fcontent%2Fenforced%2F1272373-ACC-345-R4325-OL-TRAD-UG.23EW4%2FModule%2520Two%2520Assignment%2520Guidelines%2520and%2520Rubric.html&lang=en_us&readid=d2l_read_element_1 Module Two Workbook Template 1. Prepare the company’s balance sheet accurately and completely on the Balance Sheet tab in the workbook. Include the following detail in your response: A. Provide all data available from May 31, 2020, to May 31, 2022. 2. Prepare the company's income statement accurately and completely on the Income Statement tab in the workbook. Include the following details in your response: A. Provide all data available from May 31, 2020, to May 31, 2022. Module Two Summary Template 1. De�ne the measurement of each type of ratio and the accounts included in the calculation. Refer to the Ratios tab. 2. Explain the signi�cance of each ratio to the company. 3. Identify an asset or liability being measured at fair value. Include the following details in your response: 1. Provide the speci�c disclosure note(s). 2. Include the citation(s). 4. Provide the classi�cation for the GAAP standard that allows the fair value measurement. If you need writing support, access the Academic Support module of your course. What to Submit Module Two Workbook Template Submit the Module Two Workbook Template with the following tabs completed: Balance Sheet, Income Statement, Ratios. Module Two Summary Template Submit your completed Module Two Summary Template as a 2- to 4-page Microsoft Word document with double spacing, 12-point Times New Roman font, and one-inch margins. Sources should be cited according to APA style. Supporting Materials The following resources support your work on the project: Website: Nike’s SEC 2022 10-K Filing This resource provides Nike’s 2022 10-K. Read through the material in Item 8: Financial Statements and Supplementary Data and through the Notes To Consolidated Financial Statements section. It is not necessary to click on additional links on the website for this assignment. https://learn.snhu.edu/content/enforced/1272373-ACC-345-R4325-OL-TRAD-UG.23EW4/Course%20Documents/ACC%20345%20Module%20Two%20Workbook%20Template.xlsx?isCourseFile=true&_&d2lSessionVal=Wx61PyrfW2SzCOxFg1dGFUQ3S&ou=1272373 https://learn.snhu.edu/content/enforced/1272373-ACC-345-R4325-OL-TRAD-UG.23EW4/Course%20Documents/ACC%20345%20Module%20Two%20Summary%20Template%20(1).docx?isCourseFile=true&_&d2lSessionVal=Wx61PyrfW2SzCOxFg1dGFUQ3S&ou=1272373 https://www.sec.gov/ix?doc=/Archives/edgar/data/0000320187/000032018722000038/nke-20220531.htm#i46e4e3c717064a3ca53a7fe9eaaaeca4_127 Website: Nike’s SEC 2021 10-K Filing This resource provides Nike’s 2021 10-K. Read through the material in Item 8: Financial Statements and Supplementary Data and through the Notes To Consolidated Financial Statements section. It is not necessary to click on additional links on the website for this assignment. Website: Generally Accepted Accounting Principles (GAAP) The resource provides access to the GAAP standard through the Financial Accounting Standards Board (FASB). Select “Basic View” to access the standards. Module Two Assignment Guidelines and Rubric Criteria Exemplary Pro�cient Needs Improvement Not Evident Value Module Two Workbook Template: Balance Sheet N/A Prepares the company's balance sheet accurately and completely on the Balance Sheet tab in the workbook (100%) Shows progress toward pro�ciency, but with errors or omissions; areas for improvement may include accurately completing entering the numbers from the company's balance sheet on the Balance Sheet tab (75%) Does not attempt criterion (0%) 18 Module Two Workbook Template: Income Statement N/A Prepares the company's income statement accurately and completely on the Income Statement tab in the workbook (100%) Shows progress toward pro�ciency, but with errors or omissions; areas for improvement may include accurately completing entering the numbers from the company's income statement on the Income Statement tab (75%) Does not attempt criterion (0%) 18 Module Two Summary Template: Measurement N/A De�nes the measurement of each type of ratio and the accounts included in the calculation (100%) Shows progress toward pro�ciency, but with errors or omissions; areas for improvement may include additional details or clari�cation regarding de�ning the measurement of each type of ratio and the accounts included in the calculation (75%) Does not attempt criterion (0%) 12 https://www.sec.gov/Archives/edgar/data/320187/000032018721000028/nke-20210531.htm#ibe46f16d2db0431aa4fa39b5b30b6f15_127 https://asc.fasb.org/Login Criteria Exemplary Pro�cient Needs Improvement Not Evident Value Module Two Summary Template: Signi�cance Exceeds pro�ciency in an exceptionally clear and insightful manner (100%) Explains the signi�cance of each ratio to the company (85%) Shows progress toward pro�ciency, but with errors or omissions; areas for improvement may include additional details or clari�cation explaining the signi�cance of each ratio for the company (55%) Does not attempt criterion (0%) 12 Module Two Summary Template: Fair Value N/A Identi�es an asset or liability being measured at fair value (100%) Shows progress toward pro�ciency, but with errors or omissions; areas for improvement may include providing the speci�c disclosure note that identi�es an asset or liability being measured at fair value and providing the citation for the disclosure note (75%) Does not attempt criterion (0%) 12 Module Two Summary Template: GAAP N/A Provides the classi�cation for the GAAP standard that allows the fair value measurement (100%) Shows progress toward pro�ciency, but with errors or omissions; areas for improvement may include providing the correct classi�cation for the GAAP rule that allows the fair value measurement (75%) Does not attempt criterion (0%) 12 Articulation of Response Exceeds pro�ciency in an exceptionally clear and insightful manner (100%) Clearly conveys meaning with correct grammar, sentence structure, and spelling, demonstrating an understanding of audience and purpose (85%) Shows progress toward pro�ciency, but with errors in grammar, sentence structure, and spelling, negatively impacting readability (55%) Submission has critical errors in grammar, sentence structure, and spelling, preventing understanding of ideas (0%) 8 Citations and Attributions Exceeds pro�ciency in an exceptionally clear and insightful manner (100%) Uses citations for ideas requiring attribution, with consistent minor errors (85%) Uses citations for ideas requiring attribution, with major errors (55%) Does not use citations for ideas requiring attribution (0%) 8 Criteria Exemplary Pro�cient Needs Improvement Not Evident Value Total: 100% Balance Sheet Nike, Inc. Balance Sheet For Period May 31, 2020 through May 31, 2022 (in millions) Financial StatementsVertical Analysis, Common Size Statements 202020212022202020212022 Assets Current Assets Cash and Cash Equivalents[insert value][insert value][insert value]ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Accounts Receivable Net[insert value][insert value][insert value]ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Inventory[insert value][insert value][insert value]ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Other Current Assets[insert value][insert value][insert value]ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Total Current Assets$ - 0$ - 0$ - 0ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Non-Current Assets Property, Plant and Equipment Net[insert value][insert value][insert value]ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Intangibles[insert value][insert value][insert value]ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Other Assets[insert value][insert value][insert value]ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Total Non-Current/Fixed Assets$ - 0$ - 0$ - 0ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Total Assets$ - 0$ - 0$ - 0ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Liabilities and Owners' Equity Current Liabilities Accounts Payable[insert value][insert value][insert value]ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Accrued Expenses and Other Current Liabilities[insert value][insert value][insert value]ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Current Portion of Debt and Leases[insert value][insert value][insert value]ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Total Current Liabilities$ - 0$ - 0$ - 0ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Long-Term Liabilities Long-Term Debt and Lease Obligations[insert value][insert value][insert value]ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Other Long-Term Liabilities[insert value][insert value][insert value]ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Total Long-Term Liabilities$ - 0$ - 0$ - 0ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Total Liabilities$ - 0$ - 0$ - 0ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Owners' Equity Common Stock, Less Treasury[insert value][insert value][insert value]ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Additional Paid in Capital[insert value][insert value][insert value]ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Retained Earnings[insert value][insert value][insert value]ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Other Equity[insert value][insert value][insert value]ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Total Equity $ - 0$ - 0$ - 0ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Total Liabilities & Equity $ - 0$ - 0$ - 0ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Check Digit: This should be 0 or your balance sheet is out of balance. Check your work.$ - 0$ - 0$ - 0 Check Digits Total Current Assets$ 20,556.00$ 26,291.00$ 28,213.00 Total Assets$ 31,342.00$ 37,740.00$ 40,321.00 Total Current Liabilties$ 8,284.00$ 9,674.00$ 10,730.00 Total Liabilities$ 23,287.00$ 24,973.00$ 25,040.00 Total Equity$ 8,055.00$ 12,767.00$ 15,281.00 Income Statement Nike, Inc Income Statement For May 31, 2020 through May 31, 2022 (in millions) Financial StatementsVertical Analysis, Common Size Statements 202020212022202020212022 Total Revenue (or Sales)[insert value][insert value][insert value]ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Cost of Sales[insert value][insert value][insert value]ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Gross ProfitERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Sales, General and Administrative Expenses[insert value][insert value][insert value]ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Operating IncomeERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Other Income (Expense) *If income is reported, enter as a negative number. Interest Income / (Expense)[insert value][insert value][insert value]ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Other Income (Expense)[insert value][insert value][insert value]ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Net Income (Loss), Before TaxERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Check Digit for Net Income (Loss) , Before Tax$ 2,887.00$ 6,661.00$ 6,651.00 Ratios Nike, Inc. Ratio Analysis For Period May 31, 2020 through May 31, 2022 202020212022 Liquidity Ratios Current RatioERROR:#DIV/0!ERROR:#DIV/0!ERROR:#DIV/0! Quick RatioERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Working Capital$ - 0$ - 0$ - 0 Activity Ratios Receivable TurnsERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Days in ReceivablesERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Revenues/Working CapitalERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Revenues/Fixed AssetsERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Revenues/Total AssetsERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Inventory TurnsERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Days in InventoryERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Payables TurnsERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Days in PayablesERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Coverage/Leverage Ratios Fixed Assets/EquityERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Profitability Ratios Return on EquityERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Return on Total AssetsERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! Net Profit on RevenuesERROR:#VALUE!ERROR:#VALUE!ERROR:#VALUE! ACC 345 Module Two Summary Template 1. Define the measurement of each type of ratio and the accounts included in the calculation. Refer to the Ratios tab. [Insert text.] 2. Explain the significance of each ratio to the company. [Insert text.] 3. Identify an asset or liability being measured at fair value. Provide the specific disclosure note(s). Include the citation(s). [Insert text.] 4. Provide the classification for the GAAP rule that allows the fair value measurement. [Insert text.] References Include any references used to complete this assignment. This section is for the full citation. Sources should be cited using APA style. [Insert text.]