FDNACCT: Reflection Paper

Term 2, AY2021-2022
Individual output
10% of final grade

You are required to prepare a reflection paper that incorporates your answers to the following
questions:

1. Besides earning a profit, what other objectives might a business have? How can
Accounting play an important role in these objectives?

2. A new manager of a retail company suggests that the company should prepare its
Statement of Profit or Loss on the basis of cash receipts and cash expenditures (except for
the acquisition of fixed assets, such as plant and equipment). He argues that managers,
investors, creditors, and others are more interested in cash receipts and disbursements
than in accrual-based accounting. Do you think he is correct? Explain.

3. The manager of your company told you to go out to the warehouse and count
merchandise inventory. He said that owner is coming for a meeting next week and the
manager wanted to put on a good show. He asked you to make the inventory higher by
counting the first and last row twice. The higher ending inventory will result in higher net
profit. What should you do?

Adapted from:
Price, J., Haddock, M., & Farina, M., (2021). College Accounting, 16th edition. McGraw-Hill Education.

DEADLINE: February 2, 2022, Wednesday, 11:59pm, AnimoSpace

FORMAT:
• Number of pages: 3 pages
• Font and font size: Times New Roman, 12
• Paper size: Letter
• Margins: 1” on all sides
• Paragraph line spacing: 1.5 line
• Paragraph alignment: Align left

PARTS:
• Cover page (if you want to put), not part of the required 3 pages
• Reflection paper
• References, not part of the required 3 pages

REMINDERS:
• Cite source/s whenever appropriate.
• Save final file as pdf.
• File name: FDNACCT<space>Section_Reflection Paper_Surname, First Name
Example: FDNACCT C31A_ Reflection Paper_Cruz, Juan
RUBRICS FOR ASSESSMENT:

Individual reflection paper

CRITERIA EXEMPLARY SATISFACTORY DEVELOPING BEGINNING RATING
(97-100) (80-96) (70-79) (Below 70)
Content - The student The student applies The student applies The student
Application of applies all relevant most FDNACCT some FDNACCT fails to apply
theories) FDNACCT topics topics appropriately. topics appropriately. FDNACCT
(80%) appropriately. topics
Appropriately.
Format and The student The student follows The student follows The student
Use of English follows required required format but required format but does not follow
Language format and paper paper contains paper contains major format, uses a
(10%) is free of any minor grammatical violations of the mixture of
grammatical and and spelling errors. English language. Filipino and
spelling error. English
language in the
paper, and uses
the English
language
inappropriately.
Timeliness The student The student The student The student
(10%) submitted output submitted output a submitted output submitted
on or before the day after the two (2) days after output three (3)
deadline. deadline. the deadline. days or more
after deadline.
TOTAL