Suchergebnisse

ABSTRACT
The accounting for software development costs is a complex issue within the financial accounting curriculum. While intermediate-level texts address the relevant issues, this case provides a rich context for students to learn and apply knowledge of the topic while developing critical-thinking and professional research skills. The instructional case addresses a hypothetical scenario of a company's development of an internal-use software system that ultimately prompts the creation of a software product sold by the company to customers. Students are required to determine the appropriate recognition of the software development costs, as well as the presentation of those costs and proceeds from customers on the company's financial statements.

ABSTRACT
This instructional case discusses a hypothetical scenario of a global conglomerate that has recently divested operations for three different subsidiaries. Students are required to determine the appropriate general financial statement presentation of the different subsidiaries in the consolidated income statement of the conglomerate. The case expands students' understanding of the accounting for discontinued operations, a financial accounting topic that has recently changed, and develops their research skills within the Financial Accounting Standards Board's (FASB) Accounting Standards Codification®. Furthermore, the case allows students to practice applying judgment to unique and complex situations within the accounting environment.

ABSTRACT
The real-life failures of others provide opportunities to learn. Audit failures and rule infractions stemming from Public Company Accounting Oversight Board (PCAOB) inspections represent the few instances for which detailed information about financial statement audits is made publicly available. The PCAOB enforcement reports contain key information and offer greater transparency in regard to the audits of SEC registrants. This project uses these reports to teach real-life lessons in the context of the complex regulatory environment in which registered audit firms operate. Students examine the information from these enforcements, and craft and present stories of the related audit failures. This approach has a proven impact on learning, and students who completed the project reported enhanced knowledge of the regulatory process and audit standards. The student presentations can be used in a professional environment for CPAs to earn CPE. We provide advice to faculty who wish to pursue a similar option.

ABSTRACT
While undergraduate financial reporting courses focus primarily on the application of generally accepted accounting principles and the mechanics of accounting treatments, graduate-level courses should motivate students to explore standard-setting's theoretical perspective and to develop a more rigorous understanding of accounting issues not necessarily discussed in textbooks, but included, implicitly or explicitly, in the authoritative guidance. Anecdotal evidence suggests that accounting students face difficulties transitioning from the undergraduate setting to the higher expectations common in graduate accounting programs and the workplace. This hypothetical case provides an interesting scenario on goodwill impairment to facilitate the development of students' understanding of accounting theory and its connection to professional research skills. While students are accustomed to computing goodwill impairment losses from knowledge acquired in undergraduate financial accounting courses, this topic contains interesting theoretical and practical issues and serves as a salient example of the analysis of interesting accounting issues possible at the graduate level.

ABSTRACT
In 2016, the Financial Accounting Standards Board (FASB) issued a standards update on current expected credit losses (Accounting Standards Update 2016-13; FASB Codification® Topic 326). While the update does not change the debits and credits associated with current expected credit losses (CECL), it does significantly change the calculations associated with estimates of current expected credit losses. Additionally, given that most textbooks simply provide inputs for the calculations associated with estimates of current expected credit losses, most accounting curricula do not cover the most important changes found in the update. This case provides students with a hypothetical situation in which to analyze and understand these issues. Specifically, the case requires students to critically analyze a series of current expected credit loss calculations, research authoritative guidance, and conclude regarding the appropriateness of the calculations of the actors in the case. Results indicate that students perceive significant practical learning opportunities from the case.

ABSTRACT
Financial accounting students are often provided cues regarding a particular recognition/measurement issue prior to learning the related technical material. Yet, anecdotal evidence from the profession suggests that the identification and framing of complex issues is a necessary skill for emerging professionals. This case provides accounting students a hypothetical scenario that requires them to identify several financial reporting issues, research the relevant authoritative guidance, and arrive at conclusions regarding the appropriate reporting treatment. The recent implementation of the updated revenue recognition guidance per Topic 606 from the Financial Accounting Standards Board's Accounting Standards Codification® and IFRS 15 from the International Accounting Standards Board provides a current and relevant setting for this issue identification and evaluation exercise. Results from graduate-level courses at two universities indicate that students perceived great benefits in (1) identifying and framing revenue recognition issues without textbook cues and (2) learning the new authoritative guidance.

ABSTRACT
This case is designed to help students develop research skills using the Financial Accounting Standards Board's (FASB) Accounting Standards Codification (Codification or ASC). The case also helps develop students' abilities to analyze and recommend alternatives for a complex accounting issue, goodwill impairment, which is very relevant in today's business world. This case can be used in an undergraduate or graduate accounting class, either in groups of students or as an individual student project.