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Schedule  Lecture Notes

Acct 592 - Financial Accounting & Reporting Seminar

 

  Case presentations for Spring 2011

You will each be involved in three case presentations. Except for Set 1, you will be working in groups of 2 to 3 students and each student must be involved in the oral presentation.

 Set 1 is the “easy” set for short presentations by large groups – for “warm up.” Since the teams are large, I would not necessarily expect all team members to be presenters.

 Set 2 is the most complicated set because each of you will work on TWO different cases in this set.  These are generally of moderate difficulty.  You will be on ONE presentation team and you will do a formal case write-up for at least one other cases. Please note that if you have to be out of town for some reason, you may swap CASES with someone but we will not change the DATES of the presentations since the whole class is supposed to read ALL of the cases to be presented on a particular day.  If you are an "early writer" and you don't like the grade on your first case, you can optionally choose another case that is being presented later (as long as you aren't the presenter of that case).

 Also note that your case write-up is to be done individually and is due no later than the BEGINNING of the class period when the presentations are scheduled.  It would be acceptable to discuss the case with the presenters and others who are going to be writing up the same case but this would be brain storming, arguing about alternatives, identifying relevant portions of the ASC and so forth.  The conclusions/recommendation and the writing should be your OWN work. 

 The Set 2 cases are spread over the month of April – all presentations are on Thursdays.  I’ve tried to make sure that you will not have a case write-up due in the same week that you are doing a presentations.   If you are looking at your overall schedule of assignments, please remember that you can turn in the case write-ups EARLY and get them out of the way even though I will not accept them late.

 Set 3 cases are the “final exam presentations” which take place during dead week and the 2-hour final exam period.  If you happened to miss one of the assigned write-ups (or made a poor grade), you may write up one of the Set 3 cases that you are not presenting.  Since these are generally more challenging cases, I suggest that you try to avoid the necessity of writing up one of them!

 FOR ALL PRESENTATIONS

It is not my intent to have you embarrass yourselves with an “off the base” answer to your cases.  After your team has done its preliminary research, come talk to me and I’ll see if you’ve missed something important!  As presenters, you are the instructors for the class. A presentations will generally begin with a brief overview of the key facts in the case.  Everyone in the class is expected to READ the case before class (pretty easy to do since these are mostly 1 or 2 page cases). For clarity, you’ll probably want to paste in selected passages from the ASC with important words, phrases or sentences highlighted so we can read along. Often, the cases will have more than one “reasonable alternative” which it may be helpful to discuss. However, be sure to reach a clear decision based on your best judgment.  Each team will provide a “handout” for the rest of the class (including the professor) and you will also send me a copy of your powerpoint slides by email. Generally, a one-page synopsis with citations will be better than a multiple page copy of your powerpoint slides which will waste a lot more paper. Remember, the presenters need to pass out handouts to the audience one for me and there are 23 students + the professor.  For the day that the advisory board members will be in attendance, you'll need to make a few extra for our guests.

SET 1 CASES (February 17, 2011)

07-4 Murray Corporation
Aydt, Cicrich, Dimeler, Haack, Hallett, Hansford

Case 07-5 Springboc Corporation
Harnett, Hasenoehrl, Hatch, Hunt, King

Case 05-9 Spend-More
Kleffner, Lu, Martin, Michaelis, Peterson, Popplewell

Case 08-2 Sooner or Later
Scott, Sherk, Taylor, Wu, Zing, Zong

 

Set 2 - Cases for Presentation & Write-up

Students presenting the case to class   Students preparing written cases solutions
Case 10-4 Lack of Information Set 2, Case 1    DAY 1 March 31
Aydt, Behren D 1   Dimeler, Keith Patrick
Hartnett, Margie Lou 1   Haack, Kenneth 
Lu, Xi  1   Hallett, Joshua Jae
Sherk, Mason Chadwick 1   Hansford, Amy Lucille
     
07-7 Porky's Revenge Set 2, Case 2    DAY 1 March 31
Cicrich, Wade Joseph 2   Hatch, Erik Todd
Hasenoehrl, Andrea Michelle 2   Hunt, Kristal Dawn
Martin, Todd Christopher 2   King, Kevin Grant
Taylor, Scott Michael 2   Kleffner, Janet Marie
     
Case 09-5(a) Pit Stop Closed Set 2, Case 3    DAY 2 April 7
Dimeler, Keith Patrick 3   Aydt, Behren D
Hatch, Erik Todd 3   Cicrich, Wade Joseph
Michaelis, Jacob Dale 3   Popplewell, Joseph Duane
Wu, Yang  3   Scott, Melanie Michelle
     
Case 09-5 Pit Stop Sold Set 2, Case 4    DAY 2 April 7
Haack, Kenneth  4   Hartnett, Margie Lou
Hunt, Kristal Dawn 4   Hasenoehrl, Andrea M
Peterson, Rachel Clarisa 4   Zong, Qin 
Xing, Ruolin  4    
     
Case 09-8 Classified Information Set 2, Case 5    DAY 3 April 14
Hallett, Joshua Jae 5   Lu, Xi 
King, Kevin Grant 5   Martin, Todd Christopher
Popplewell, Joseph Duane 5   Michaelis, Jacob Dale
Zong, Qin  5   Peterson, Rachel Clarisa
     
Case 09-1 Velocity Cellular Set 2, Case 6    DAY 3 April 14
Hansford, Amy Lucille 6   Sherk, Mason Chadwick
Kleffner, Janet Marie 6   Taylor, Scott Michael
Scott, Melanie Michelle 6   Wu, Yang 
    Xing, Ruolin 

Set 3 - final exam presentations

3-May-11
09-3 Venturing into Consolidations  
Aydt, Behren D  
Hatch, Erik Todd  
3-May-11
08-5 Sell-It-Products  
Cicrich, Wade Joseph  
Hunt, Kristal Dawn  
Scott, Melanie Michelle  
 
5-May-11
05-1 It's Close Enough, Inc.  
Dimeler, Keith Patrick  
King, Kevin Grant  
Sherk, Mason Chadwick  
 
5-May-11
06-2 Convertme Inc.   
Haack, Kenneth   
Kleffner, Janet Marie  
Taylor, Scott Michael  
 
9-May-11
06-12 Outsourcing Services Inc.  
Popplewell, Joseph Duane  
Hallett, Joshua Jae  
Lu, Xi   
 
9-May-11
05-3 Cherry Pop (new version with a banana entity)  
Hansford, Amy Lucille  
Martin, Todd Christopher  
Xing, Ruolin   
 
9-May-11
10-5 Danle Corporation (Changed)  
Hartnett, Margie Lou  
Michaelis, Jacob Dale  
Zong, Qin   
 
9-May-11
10-3 Restructuring Costs  
Wu, Yang   
Hasenoehrl, Andrea Michelle  
Peterson, Rachel Clarisa  

 

 

 

 

 

You can also go to the Deloitte and Touche Web Page buy clicking on this link

 

Acct 592 – Spring 2010
Cases and Readings

Note - we WILL NOT use all of these cases so don't get too far ahead.  I will probably be adding new cases - so keep your eye on schedule!   I haven't updated this list for some of the new 09 Trueblood cases yet -see schedule for links or above for presentation assignments
 

98-9 Sour Grapes and Interest Costs (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation)  

99-4 The Eye of the Potato (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation)

02-5     Sick of Debt (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation) 

Case 07-1 Insuring R Losses  (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation) 

Lucent Loses its Luster (pdf file) - ignore last section intended for instructors or use MSword version: Lucent Loses Its Luster (doc) (IAE, by Teresa Gordon and Marcia Niles)

The Case of the Small Business Client.  - handout

Financial Statement Disclosure Project

VLT project Spring 2011.docx  with due dates and general instructions

VLT project - DATA for students Acct 592 S11.xlsx

Related assignments:

VLT Post-retirement benefit plans HOMEWORK.xlsx

VLT Option Plan Assignments (docx)

VLT - Earnings Per Share assignment S11.pdf

Deferred Taxes

Article:   Torres, Paul D., and Marvin J. Albin.  Fall 1997.  Integrating the curriculum:  A resource for including tax. Issues in Accounting Education 12(2), pp. 561-572. - Obtain via Library - full text available in "Business Source Premier" database of articles

03-07       AxCess Unlimited (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation) 

07-6 Graphic Inc. (The Robert M. Trueblood Accounting and Auditing Case
             Study Series, Deloitte & Touche Foundation) 

Issues in Implementing the Black Sholes Call Option Pricing Model to the Valuation of Employee Stock Options, Mario Reyes, Teresa P. Gordon, and Jeffrey Harkins

Article:  Accounting for Tax Benefits of Employee Stock Options and Implications for Research, by Michelle Hanlon and Terry Shevlin, Accounting Horizons, Vol. 16, No. 1, March 2002, pp. 1-16 - Obtain via Library - full text available in "Business Source Premier" database of articles

Stock Based Compensation & Earnings per Share

Jones Apparel Group (2006.pdf)

07-4    Murray Compensation

07-5    Springbok Corporation

05-9    Spend More

Caravan International: stock repurchase plan with impact on EPS

Other recent standards

07-2    Western Aluminum (changes in accounting principles)

05-9         Spend More  (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation)

05-5         Guarantees-R-Us  (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation)

05-2         Minority Inc. (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation)

04-09     Healthcare Depot - Parts 1 & 2 & 3 (Impairment of goodwill) (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation)

04-8         Drug King (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation)

02-3         Frequent Fixer (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation) 

06-8 Sell Soon Inc. Sell Soon Inc. (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation) 

Cases/08-1c_go_with_the_flow_inc.pdf

Cases/08-2c_sooner_or_later.pdf

Cases/08-3c_hedge_documentation.pdf

Cases/08-4c_the_bear_minimum.pdf

Cases/08-5c_sell_it_products_inc.pdf

Cases/08-6c_rump_organization.pdf

Cases/08-7c_data_trappers_inc.pdf

Cases/08-8c_gainey_auto_inc.pdf

Cases/08-9c_fraud_iIllegal_acts.pdf

Cases/08-10c_chocolate_rocks.pdf

Cases/09-1c_Velocity_Cellular.pdf

Cases/09-2c_Pharmagen_Pharmaceutical_Development_Funding.pdf

Cases/09-3c_Venturing_Into_Consolidations.pdf

Cases/09-4c_NeedsSpace.pdf

Cases/09-5ac_Pit_Stop_CLOSED.pdf

Cases/09-5c_Pit_Stop_SOLD.pdf

Cases/09-6c_UpBeat.pdf

Cases/09-7c_A2_Auto_Corporation_Impairment.pdf

Cases/09-8c_Classified_Information.pdf

Cases/09-9c_Bricks_&_Mortar.pdf

Cases/10_1c_solvgen_080610.pdf

Cases/10_2c_eagleimpairmentloss_093010.pdf

Cases/10_3c_restructing_costs_080610.pdf

Cases/10_4c_lack_of_information_072310.pdf

Cases/10_5c_danle_corporation_072310.pdf

Cases/10_6c_care_for_kids_072310.pdf

Cases/10_7c_impaired_abilities_072310.pdf

Cases/10_8c_abc_company_072310.pdf

Cases/10_9c_institutional_investor_company_072310.pdf

Cases/10_10c_an_offer_you_cant_refuse_072310.pdf

Consolidations & Foreign Subsidiaries

General Electric: Investment Accounting & Consolidations [IAE 17(3)]

92-9 To Consolidate or Not  (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation)    hand out

Security Systems Corporation (IMA 1:8)  hand out

91-10 Determining the Functional Currency (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation)  hand out

Foreign subsidiary:  Conversion to U.S. GAAP, Translation to U.S. Dollars and Consolidation {IAE 12(1)] 

Other Consolidation & business combination issues

Case 06-1 Am I In or Am I Out? Parts 1 and 2 (FIN46R - VIEs)

06-4 FastCar (related party lease - VIE)

05-3         CherryPop (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation)

05-6         CentCom  (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation)

03-9         Highrise Inc. (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation)

02-8         Mortar and Pestle (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation)

99-9         Swap Meet  (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation)

99-10       Ball and Chain (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation)  

03-1         Web Browser (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation)

00-9         Hi-Ho, Hi-Ho, It’s Off to Market We Go! (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation)

Problems in revenue recognition

Xerox Inc (pdf) - cookie jar reserves

Case 07-3 Columbia On-Line Networks (1), (part 2) (part 3)

Case 06-5 Manini Manufacturing (multiple element sales arrangement)

Case 06-9 Stocks for Cheap (minimum revenue guarantee)

Case 06-12 Outsourcing Services Inc. (deferred costs)

04-7    Lighthouse (product and related services)

03-02       Back to the USSR (discount on future services) (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation) 

Derivatives and financial instruments:

06-2 Convertme, Inc.

05-4    Blackout Power Utilities

05-7    Ace Company

04-8    Drug King

04-10    Cashless Inc.

03-8    Abbey Technologies

03-10     Painless Inc.

03-3    Need Cash Inc.

Other Cases for Presentation – Assorted Topics

07-8 Hurricane William (insurance recovery)

07-7 Porkey's Revenge (leases)

06-7 Crazy Computers (deferred costs)

06-8 Sell Soon (disposal of long-lived assets)

06-11 BlackGold Inc. (asset retirement obligation)

06-12 Outsourcing Services Inc. (deferred costs)

05-7    Ace Company (derivatives) (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation)  Additional info

05-4     Blackout Power Utilities (derivatives) (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation)

 

04-6         Power Station  (lease related) (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation)   

 

04-3    Home Computer Inc. (impairment issues)

03-04       Looking for Some Winners  (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation) 

04-2         Busy Signals, Unlimited (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation) 

04-4    Three Little Pigs (inventory)

04-5    Alchemist, Inc. (restructuring charges)

04-6    Power Station (leases)

04-7         Lighthouse  (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation) 

04-10       Cashless, Inc. (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation) 

02-1    Cost Capitalization at Crispy Crust

02-3    Frequent Fixer (contingencies)

02-6    The Needle Eater (leases)

00-5         Revenue’s Up, Dude! (The Robert M. Trueblood Accounting and Auditing Case Study Series, Deloitte & Touche Foundation) 

 

LINKS TO TRUEBLOOD CASES

You can also go to the Deloitte and Touche Web Page buy clicking on this link

 

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