Hello, I need help with completing this case study. Detailed instructions are below. Please be sure to follow them and answer appropriately. Please provide in citation and a reference and a website re
ACC 680 Module Three Homework Guidelines and Rubric Overview: This module will introduce students to International Accounting Standards and how they differ from GAAP in various areas, inc luding revenue recognition and financial statement presentation standards. An introduction to the International Financial Reporting Standards is presented, along with the efforts currently underway to converge U.S. GAAP with the international standards. Prompt: Using the data provided in the Jaguar Land Rover PLC case on pages 153 –154 of your textbook, address the three requirements posed in the case study. Specifically, address the following critical elements: 1. What percentage of R&D expenditures was capitalized during the fiscal year ending March 31, 2017? How does t his percentage compare with the capitalization ratios of the German automakers profiled in Exhibit 4.4? 2. Estimate the average useful life of product development costs by dividing average capitalized product development costs by the amortization expense for fiscal 2016 –2017. Compute average capitalized product development costs as simple average balances at the beginning and end of each fiscal year. Does your esti mate fall within the range of the useful lives for development costs disclosed in the accounting policy footnote? 3. The table in the text contains metrics as reported in JLR ’s three primary financial statements. Convert these metrics to a U.S. GAAP basis. Wh ere necessary , assume that JLR ’s tax rate is 21.1 %, a rate disclosed in Footnote 14 , Taxation. Rubric Guidelines for Submission : Your paper may be submitted as either a Microsoft Word document or Microsoft Excel document . There is no length requirement. It does not need to follow APA guidelines. Critical Elements Exemplary (100%) Needs Improvement (70 %) Not Evident (0%) Value R&D Expenditures Percentage of R&D expenditures is calculated with no errors and compared to the German automakers Percentage of R&D expenditures is calculated with minimal errors and compared to the German automakers Percentage of R&D expenditures is not calculated or is calculated with multiple errors and is not compared to the German automakers 20 Useful Life Product Development Average useful life of product development costs is calculated with no errors Average useful life of product development costs is calculated with minimal errors Average useful life of product development costs is not calculated or is calculated with multiple errors 20 Capitalized Product Development Costs Average capitalized product development costs is calculated with no errors and the adherence to accounting policy is assessed Average capitalized product development costs is calculated with minimal errors and the adherence to accounting policy is assessed Average capitalized product development costs is not calculated or is calculated with multiple errors and the adherence to accounting policy is not assessed 20 Met ric Conversion Metrics are fully converted to U.S.GAAP basis with no errors Metrics are fully converted to U.S.
GAAP basis with one to two errors Metrics are not converted to U.S. GAAP basis or are converted with multiple errors 30 Critical Elements Exemplary (100%) Needs Improvement (70 %) Not Evident (0%) Value Presentation Excellent presentation that follows appropriate format, includes all classifications, and has no spelling or math errors Adequate presentation that largely follows appropriate format but omitted two classifications and/or has one to two spelling or math errors Poor presentation that does not follow appropriate format, omitted three classifications, and/or has five or more spelling and/or math errors 10 Total 100%
