Accounting

Case Solution for Olam: Accounting for Biological Assets

Case Solution & Analysis for Olam: Accounting for Biological Assets by Yew Kee Ho, Teo Chee Khiang, Sitoh Kheng Hoe.

Complete Case details are given below :

Case Name :      Olam: Accounting for Biological Assets
Authors :           Yew Kee Ho, Teo Chee Khiang, Sitoh Kheng Hoe
Source :              Ivey Publishing
Case ID :           9B15A042 / W15369
Discipline :        Accounting
Case Length :    14 pages
Plagiarism : NO (100% Original work)
Description for case is given below :
In 2012, an equity research firm based in California accused Singapore-based Olam International Limited (Olam) of engaging in potentially misleading and dangerous accounting practices. The firm – Muddy Waters Research – further stated that Olam was on the verge of bankruptcy. The primary complaint made against Olam by Muddy Waters was that Olam allegedly made aggressive use of “non-cash accounting gains,” particularly when reporting on Olam’s biological assets. Olam’s share price tumbled after the accusations were made public. Olam defended itself by asserting that it had applied Singapore Financial Reporting Standard (FRS) 41 – Agriculture appropriately and that the fair value gains of the biological assets were justifiably derived. FRS 41, equivalent to International Financial Accounting Standards 41 – Agriculture, required Singapore-listed companies to use fair value in the measurement of biological assets. This case examines the complex challenges that valuators face when presented with different valuation models, the application of financial reporting standards and the fine balance between reliability and relevance in the accounting of assets in the real world.
 
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Case Solution for Adenosine Therapeutics LLC: Accounting for a Different Compensation Method

Complete Case details are given below :

Case Name :      Adenosine Therapeutics LLC: Accounting for a Different Compensation Method
Authors :           Mark E. Haskins
Source :             Darden School of Business
Case ID :           UV0731
Discipline :        Finance
Case Length :    06 pages
Solution Sample availability : YES
Plagiarism : NO (100% Original work)
Description for case is given below :
This case challenges students to apply financial reporting concepts pertaining, most notably, to liabilities and expenses in a specific corporate situation. In the context of an interesting, but noncomplex, technical accounting issue, students debate the best way for Adenosine Therapeutics to present its compensation arrangements in its financial statements. In addition, this case also prompts students to debate the best way for a growing company, with cash constraints, to provide incentive and maintain top employees.
 
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Case Solution for Aztek Chocolate Studio: Accounting System Software

Complete Case details are given below :
Case Name :      Aztek Chocolate Studio: Accounting System Software
Authors :           Derrick Neufeld
Source :             Ivey Publishing
Case ID :            W14038
Discipline :        Entrepreneurship
Case Length :    04 pages
Solution Sample availability : YES
Plagiarism : NO (100% Original work)
Description for case is given below :
In late 2013, the founder of Aztek Chocolate, a candy manufacturer, in Winnipeg, Manitoba, is confronted with making an accounting system selection decision. He has two traditional options – outsourcing to an accounting or bookkeeping firm versus using an internally developed spreadsheet or commercial software package – as well as a third “hybrid” option – using an accounting cloud, or Software-as-a-Service, service provider. Sales are starting to flow in, and chocolates are shipping out, but he realizes he must now attend to setting up financial control and reporting systems before he loses control of the new firm’s financial performance. Should he hire an accountant, manage the finances himself with a commercial accounting software package or use an accounting cloud service provider?
 
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Case Solution for Visa Inc.: Accounting for Marketing

Complete Case details are given below :
Case Name :      Visa Inc.: Accounting for Marketing
Authors :           Neil Bendle
Source :             Ivey Publishing
Case ID :            W14258
Discipline :        Marketing
Case Length :    09 pages
Solution Sample availability : YES
Plagiarism : NO (100% Original work)
Description for case is given below :
A job candidate at Visa Inc., the technology payments company, prepares herself for her interview by considering what she can uncover about the company’s marketing from the published accounts. She analyzes what the company spends money on and how revenue is generated. She considers how marketing is accounted for – specifically, how marketing assets, such as brands, are dealt with on the balance sheet. She considers the relationship between values in the accounts and the market value of the firm, and the problem of brand valuation is discussed. Finally, she tries to understand the impact of accounting treatment on common financial ratios.
 
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Case Solution for Callmate Telips – Choice of Accounting Policy

Complete Case details are given below :
Case Name :      Callmate Telips – Choice of Accounting Policy
Authors :           Muntazar B. Ahmed
Source :             Ivey Publishing
Case ID :            908N28
Discipline :        Accounting
Case Length :    15 pages
Solution Sample availability : YES
Plagiarism : NO (100% Original work)
Description for case is given below :
Callmate Telips Telecom Limited (Callmate) was in the telecommunications business in which the regulatory controls were gradually being undone by the government of Pakistan as part of an economic deregulation program. Callmate was the pioneer in the pay phones and prepaid calling card industries in Pakistan and had significant opportunity to develop into a major business entity. The events in the case demonstrate that the company strategy, as well as aggressive share price management, could be dangerous if there were no checks on the directors. All the directors of Callmate were close family members and the audit committee consisted of three of the directors. The external audit firm that audited Callmate was A.F. Ferguson & Co. (Ferguson) and they were an affiliate of Price Waterhouse Coopers International. Ferguson was regarded among the top professional accounting firms in Pakistan. As Callmate was listed on the Karachi Stock Exchange, it was required to publish its financials quarterly after these had been reviewed by Ferguson. The company had received permission during early 1995 to enter into the long distance international market, which was earlier the monopoly of the state firm Pakistan Telecommunication Corporation Limited (PTCL). A disagreement arose between the auditors and the company on the accounting policy related to revenue recognition used in the financials of the half year ended December 2005. This dispute and the company trying to manage its share price led to a number of problems that became public knowledge as the company tried to malign the auditors. The case examines corporate governance by examining the role of the external auditor, the conduct of the board of directors and the regulator of public listed companies. There were a series of events that caused a profitable company to rapidly become a pariah on the stock exchange and be suspended from the exchange.
 
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Case Solution for Accounting for Content at Demand Media

Complete Case details are given below :
Case Name :      Accounting for Content at Demand Media
Authors :           Chris Sturby, Jessica Kelly
Source :             Ivey Publishing
Case ID :            W12658
Discipline :        Accounting
Case Length :    19 pages
Solution Sample availability : YES
Plagiarism : NO (100% Original work)
Description for case is given below :
An analyst is assessing Demand Media’s accounting policies in the face of media scrutiny around its capitalization of media costs as well as some of its non-GAAP disclosures. She has to decide whether it is appropriate to capitalize these costs. In order to do so, she must evaluate whether the costs meet the definition of an asset. After analyzing the company, its business model and its strategy, she can compare its content costs to various other companies that create “content” (intellectual property); competing accounting policies are also examined. The analyst can then determine the appropriate accounting treatment and whether any adjustments are warranted. With respect to non-GAAP earnings, she can decide whether the metrics proposed by the company are appropriate in order to measure performance.
 
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Case Solution for The Talbots, Inc., and Subsidiaries: Accounting for Goodwill

Complete Case details are given below :
Case Name :      The Talbots, Inc., and Subsidiaries: Accounting for Goodwill
Authors :           William J. Bruns Jr.
Source :             HBS Brief Cases
Case ID :            3254
Discipline :        Accounting
Case Length :    13 pages
Solution sample availability : YES
Plagiarism : NO (100% Original work)
Description for case is given below :
In 2006, Talbots, Inc., a specialty women’s retailer, purchased a competitor, J. Jill. The transaction created a large goodwill account along with accounts for trademarks and other intangible assets. Using prevailing accounting standards (Statement of Financial Accounting Standards No. 142), Talbots determined that the goodwill was not impaired in its Fiscal Year 2007 and it was carried forward at its purchase cost. However, one year later Talbots found the goodwill impaired, along with the trademarks and some store assets acquired from J. Jill in 2006, and these impairments were deducted from revenues in Fiscal Year 2008. Case includes financial statements.

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Case Solution for Biovail Corporation: Revenue Recognition and FOB Sales Accounting

Complete Case details are given below :
Case Name :      Biovail Corporation: Revenue Recognition and FOB Sales Accounting
Authors :           Craig J Chapman
Source :             HBS Brief Cases
Case ID :            4011
Discipline :        Accounting
Case Length :    09 pages
Solution sample availability : YES
Plagiarism : NO (100% Original work)
Description for case is given below :
Biovail Corporation, a major Canadian pharmaceutical company listed on the New York Stock Exchange, announces that it will miss its quarterly earnings target by $25 to $45 million, blaming $10 to $15 million of the shortfall on a truck accident involving a shipment that left its facility on the last day of the quarter. The case was ultimately prosecuted by the U.S. Securities and Exchange Commission (SEC). The case is centered on the question of revenue recognition and how the company should have accounted for the sales (FOB company or FOB destination). However, it also provides a rich setting permitting exploration of peripheral topics around the ethics of earnings management. For example, the case discusses stock analysts’ reactions to the announcement; questions how much product was actually in the truck; questions how aggressively the company responds against the analysts who downgrade the stock; and highlights the role of the SEC in enforcement.

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Case Solution for Accounting for Liabilities: Lessons from the Exxon Valdez

Complete Case details are given below :
Case Name :      Accounting for Liabilities: Lessons from the Exxon Valdez
Authors :           Janice Bell, Heidemarie Lundblad, Avinash Arya
Source:              Babson College
Case ID:             BAB719
Discipline :        General Management
Case Length :    06 pages
Solution sample availability : YES
Plagiarism : NO (100% Original work)
Description for case is given below :
“This case addresses how to account for an environmental catastrophe from its initial stages to its conclusion, using the 20-year history of the Exxon Valdez oil spill as an illustration of the accounting disclosures required over time. The spill resulted in severe social, environmental, and economic damages to the Prince William Sound region and led to more than 20 years of litigation regarding the appropriate amount of damages to be paid by Exxon. The case has two parts. Part I addresses the question of whether a company has a responsibility to accrue and disclose a provision in its financial statements before a disaster occurs. Part II addresses accounting disclosures required in the aftermath of such a disaster. A student in intermediate accounting performs the role of an intern working at an international public accounting firm with clients who may be faced with incidents similar to Exxon’s, such as the British Petroleum Deepwater Horizon catastrophe in the Gulf of Mexico, in 2010. These incidents, whether they occur in the United States or elsewhere, may have significant financial, social, and environmental impacts; create uncertainty over payment amounts; and span years before final settlement. Students must research and write a memo that discusses how to account for such losses using the 20-year history of the Exxon Valdez event as a possible scenario. The research should include authoritative pronouncements in effect at the current date using U.S. generally accepted accounting principles (GAAP) and international financial reporting standards (IFRS). ”

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