Open AccessMargarets Garden Shoppe: A Realistic Simulation Of Accounting For Small Entities
Author(s) -
Andrew D. Schiff,
Margaret Coulter Smith
Publication year - 2008
Publication title -
journal of business case studies
Language(s) - English
Resource type - Journals
eISSN - 2157-8826
pISSN - 1555-3353
DOI - 10.19030/jbcs.v4i3.4763
Subject(s) - accounting , business , management accounting , accounting information system , professional services , small business , marketing , public relations , political science
According to the American Institute of CPAs, over 58% of new accounting graduates hired by CPA firms join those with fewer than 50 professional staff members, and over 38% join CPA firms with fewer than 10 professional staff members [AICPA, 2005]. Many of these regional and local firms provide accounting services to small business clients, whose accounting needs can differ significantly from those of larger organizations that are the primary focus of most textbooks. Exposure to the unique requirements of smaller businesses can improve the ability of new staff accountants to serve these entities accurately and efficiently, thereby reducing budget overruns and client complaints. This case study, which is based on 15 years of accounting and consulting experience, provides a unique experience in that it emphasizes the source documents, transactions and unique accounting needs of small businesses. It has been classroom-tested for accuracy and ease of use, and is suitable for principles, systems and first intermediate courses in accounting.