Project 2: Middle Road Media Case Study

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Project 2: Middle Road Media Case Study

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This project is designed to enhance your research skills using the FASB Codification to research the accounting for software development, enhance your critical thinking skills, and provide an opportunity for you to improve your graduate level writing skills with the help of graduate writing tutors.

  1. Introduction:

You did such a great job on Project I that your company’s controller (the professor) now feels confident you can conduct professional accounting research using the FASB Accounting Standards Codification.  Specifically, the controller is interested in the accounting for software development costs at Middle Road Media, Inc.  The company produces monthly political magazines.  The controller encourages you to use your critical thinking skills to make effective decisions regarding the recording and reporting of the software costs.

 

Eager to prove you’re a born researcher with the writing skills of Charles Dickens, you begin planning the process you’ll use to impress the controller.  You plan to submit a draft of your report to the editing department (graduate tutors) before delivering your final work to the Controller.

 

  • Steps to Completion:

Step 1 –Read the case study and review the requirements for Middle Road Media, Inc., which is posted in: Content/Course Resources/Projects and Rubrics.

  • Case Citation:
    • Casey J. McNellis (2018) Middle Road Media, Inc. A codification research case on the accounting for accounting software development activities. Issues in Accounting Education: August 2018, Vol. 33, No. 3, pp. 135-144.

 

Step 2 – Conduct accounting research using the FASB Codification

 

  • Login credentials to the FASB Accounting Standards Codification (ASC) and the link are provided in Course Resources section in the classroom in the FASB’s ASC, GARS and COSO module.
  • Research the FASB ASC for guidance on the accounting for software development costs as requested by the controller.
  • To deepen your understanding of the FASB ASC topic related to software development costs, read the appropriate sections in Wiley GAAP 2018: Interpretation & Application of GAAP.
  • Read: Bouray, R., & Richards, G. (2018, March 12). Accounting for external-use software development costs in an agile environment. Retrieved from https://www.journalofaccountancy.com/news/2018/mar/accounting-for-external-use-software-development-costs-201818259.html
  • Research the UMUC library to find current articles in academic journals related to software development costs.

 

 

Step 3 – Complete the case requirements

 

  • Complete the Main Case Requirements that begin on page 137.
  • Complete the Optional Case Requirement 1 on page 138.
  • Complete the Optional Case Requirement 2 on page 138.

 

  1. Deliverables:
  • Memorandum to your boss
    • Use APA style formatting
    • Approximate length of the memorandum using APA style is 3 pages
    • Correct spelling is mandatory
    • Grammar must be clear, correct, and concise
  1. Hints and Tips:
  • Review and refresh your memory of APA style formatting 3-4 weeks before the assignment is due. The resources may be helpful:
    • Writing a research paper: https://owl.english.purdue.edu/owl/resource/658/01/
    • APA: https://owl.english.purdue.edu/owl/section/2/10/
    • Developing your graduate level writing skills: https://owl.english.purdue.edu/owl/section/1/2/
    • What Constitutes Graduate Level Writing; source unknown. In LEO, Content, Course Resources, Project 2.
  • Demonstrate through your writing that you have gained a/an:
    • deeper understanding of the FASB ASC guidelines for the development of internal-use software to be marketed and sold to external users,
    • applied judgment and decision-making skills to the complex scenario described in the case study, and have enhanced your professional research skills using the UMUC library, FASB ASC, and other academic resources.
  • Prepare a draft version of your report 2 weeks before it is due.
  • Ask a classmate, friend, or family member to read your report before submitting it to the Graduate Writing Center.
  • Use the Graduate Writing Center:
    • Submit your draft to the Graduate Writing Center at least 1 week before the project is due.  This FREE resource can be accessed in your LEO classroom.
    • Make edits to your report after reviewing feedback from the writing center tutors.
    • Note: Failure to submit your document to the Graduate Writing Center and or failure to improve your document based on guidance from the writing tutors, before submitting the final version is unwise.
  • Submit the deliverable on or before the due date.
  • Ask your professor questions as needed.

 

  1. Rubric:

Case Analysis Rubric