Cases in Financial Accounting: A Principles-Based Approach

Paperback | March 6, 2006

byAlan Richardson

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The failure of Enron and other accounting scandals ushered in a new era of accountability in financial accounting. Cases in Financial Accounting: A Principles-Based Approach encourages thoughtful managers and accounting practitioners for the future to exercise principaled judgement. It exposes the substance beneath the form of business transactions and challenges tomorrow's decision-makers to cope with new transactions and changing circumstances in an appropriate way.Cases in Financial Accounting: A Principles-Based Approach can be used with equal success in the introductory financial accounting course at the undergraduate or MBA level. It's approach requires the development and use of critical thinking skills and the application of a sound knowledge of what financial accounting is trying to accomplish in society.This case book provides realistic snapshots of business practice. Many of the cases are based on situations that were covered in the financial press and represent decisions that were faced by managers, auditors and investors often with severe consequences. The cases represent a range of businesses including small family owned enterprises, medium sized businesses and large corporations. The range of situations covered provides a realistic reflection of the environment that will be faced by the graduates of top business and accounting programs.

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From the Publisher

The failure of Enron and other accounting scandals ushered in a new era of accountability in financial accounting. Cases in Financial Accounting: A Principles-Based Approach encourages thoughtful managers and accounting practitioners for the future to exercise principaled judgement. It exposes the substance beneath the form of business...

Format:PaperbackDimensions:220 pages, 9.25 × 7.31 × 0.5 inPublished:March 6, 2006Publisher:Nelson College IndigenousLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0176102752

ISBN - 13:9780176102753

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Table of Contents

PREFACETABLE OF FIGURESCONTRIBUTING AUTHORSCHAPTER 1: THE CASE FOR CASESThe Pedagogic Case for CasesThe Professional Case for CasesCHAPTER 2: PRINCIPLED JUDGMENT IN FINANCIAL REPORTINGGAAP and Financial StatementsNon-GAAP Financial StatementsThings to consider when exercising judgment in financial reporting(i)Who are the users?(ii)What estimates and assumptions are needed to calculate accruals?(iii)What legal and ethical constraints affect the reports?(iv)How should the information be reported?Standards for Financial Reporting: Rules versus PrinciplesGAAP versus (First) Principles: How should you approach these cases?CHAPTER 3: A GUIDE TO CASE ANALYSISInformation Gathering(i) Understand your assignment(ii) Understand the context(iii) Identify Important Case FactsIssue IdentificationIssue PrioritizationAlternative Generation(i)Consequence EvaluationRecommendationImplementation IssuesGroup Case AnalysisWriting a case analysis(i)Memo(ii)Letter(iii)ReportWhat to look for in a good case analysisCHAPTER 4: AN EXAMPLE CASE ANALYSISLeddLedd - Suggested solutionCHAPTER 5: AN SECOND EXAMPLE CASE ANALYSISHannah ConfectionsHannah Confections - Suggested solutionCHAPTER 6: INTRODUCTORY CASESAyrGlenSweet Cheeks LimitedWind Jammer Inc.Healthy Dairy CaseCranberry Marsh CaseLoaddown.comToronto Autumn LeavesMukLuk LimitedPCC Inc.Reengineering Inc.Robbin Inc.New Age Spiritual AcademyHarrington BooksHappy Times Retirement Homes LimitedBBean Coffee Inc.Parsons'' Parts Inc.Hair Accessories Inc.Astro MusicAurelius Developments LimitedPiper City PharmacyBytes ''n ThingsValhalla Inc.World Telecom LimitedHarmonic Healing Private Inc.S&P Etc.Sparkling Jewelers Inc.Crystal Custom BuildersPredator Private Corp.Lake''s BelovedPrinttalk Inc.Harley Inc.CHAPTER 7: INTERMEDIATE CASESTampico AirwayAir De RoseBalli Contracting LimitedBand On The RunBeauty Manufacturing LimitedBlooming BeautyPorel CorporationBuilt It CorporationCommunicom CorporationDeadent Theatre CompanyEndless Beauty LimitedIgloo CorporationJack B. NimbleJokemon Inc.Let Your Backbone SlideLittle Johnny''s Book BarnMichael Services Inc.Vintage WineryGillam''s Awesome PantsBombadeer Co.Books4U Inc.Cherie CorporationCreative Cribs Inc.Wallace Inc.Liberty Health Network Inc.Ashcott Dental OfficeXPL Paintball LimitedEnvironmental Consulting Inc.Diamondbird Inc.Thrifty AirlinesWorth The WaitXenon Inc.WorldCanWillows Inc.Bacchus Inc.Haddock FisheriesCHAPTER 8: ADVANCED CASESC.Webb pharmacy businessRC Players Ltd.Bottlefab CaseSimple Diagnostic MedicineA Day in the Life of an "Ethical" Financial ControllerCHAPTER 9: WHAT SHOULD YOU DO NEXT?Substantive KnowledgeInstitutional KnowledgeRhetorical KnowledgeConclusionITHACA