Open AccessComposite Manufacturing Company: A Financial (MIS) Statement Case
Author(s) -
John Kostolansky,
Brian B. Stanko,
Ellen L. Landgraf,
Michael D. Pakter
Publication year - 2011
Publication title -
journal of business case studies
Language(s) - English
Resource type - Journals
eISSN - 2157-8826
pISSN - 1555-3353
DOI - 10.19030/jbcs.v6i5.894
Subject(s) - worksheet , accounting , audit , business , financial statement , thriving , earnings , finance , earnings management , earnings per share , psychology , psychotherapist
Composite Manufacturing is a thriving privately-held company, whose owners need to attract outside investors. Composite’s financial statements have not been professionally prepared nor audited. Although there is no fraud or intentional wrongdoing, the inexperience of the owners and their bookkeeper has resulted in improper financial reporting. In this case students will have to identify and restate revenues, expenses, assets, liabilities, and retained earnings in so far as they are not reported in accord with generally accepted accounting principles. Students are provided with a “Student Adjustment Template” and a “Student Worksheet Template” that allow them to make correcting entries in an organized manner as well as make subsequent changes to the financial statements. Instructors will be provided with teaching notes, a “Student Adjustment Template Solution” and a “Student Worksheet Template Solution” upon contacting the authors.