Acc 700 Milestone #1 Guidelines and Rubric

ACC 700 Milestone #1 Guidelines and Rubric
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The first milestone is a rough draft of the first artifact for your professional portfolio, financial statements and analysis. You will complete a set of financials asdescribed in the appendix section of the prompt below for a fictitious company called Chester Inc. You will then submit a report of your findings andrecommendations. This will be graded using the rubric at the end of this document and is an opportunity for you to organize your thoughts and receive feedbackfrom your instructor for the final submission. You should note that the submission guidelines for this milestone are less demanding than those for the finalsubmission. Once you have submitted this milestone and received feedback from your instructor, it is up to you to incorporate this feedback and complete theartifact by meeting the submission guidelines found in the Final Project Guidelines and Rubric document.Client One – Chester, Inc. (Financial Statements and Analysis)Chester, Inc. is a large, publicly traded client at S.N.H.U., LLC. Your task is to develop a comprehensive, professional report for the board of directors. To do this,you will use Chester, Inc.’s trial balance to compose comparative financial statements, analyze data, and interpret results. These financial statements must be ingood form in accordance with Generally Accepted Accounting Principles (GAAP). Next, you will assess the performance of Chester, Inc. using the financialstatements that you created, along with industry performance data and the financial statements of a competitor. In addition, Chester, Inc. is consideringexpanding into the global market. They would like you to highlight key areas of the financial statements you have prepared and identify how they would bereported differently if composed under International Financial Reporting Standards (IFRS) rather than GAAP.Background and Financial...