On-Line Gaming, Financial Reporting, and Audit: Chester Games Corp.

2015 ◽  
Vol 31 (4) ◽  
pp. 431-437
Author(s):  
Joan Davison Conrod ◽  
Judy Cumby
Keyword(s):  
Financial Reporting ◽  
Durable Goods ◽  
Intangible Asset ◽  
Recognition Judgment ◽  
Revenue Recognition ◽  
Gaming Industry ◽  
Asset Impairment ◽  
On Line ◽  
Key Issues ◽  
Public Offering

ABSTRACT This case examines selected financial reporting and audit issues in the context of the on-line gaming industry. Key issues are revenue recognition and asset impairment under IFRS. Revenue trends are critical for the company as it considers a public offering. The estimates inherent in recognizing revenue for virtual goods, both consumable goods and durable goods, make revenue recognition and audit of revenue especially judgmental. IAS 18 or IFRS 15 may be used as a framework to discuss revenue recognition. Judgment is also required to support impairment testing of an intangible asset and goodwill.

Recognition Of Revenue In Mobile Phone Companies Under IFRS 15

2019 ◽  
Vol 118 (10) ◽  
pp. 181-196
Author(s):  
Layth Ali Hammadi Al-Tamimi ◽  
Abbas Alwan Sharif ◽  
Murtadha Mohammed Shani
Keyword(s):  
Mobile Phone ◽  
Financial Reporting ◽  
International Financial Reporting Standards ◽  
Administrative Staff ◽  
Reporting Standards ◽  
Revenue Recognition ◽  
Important Conclusion ◽  
Know How ◽  
Financial Reporting Standards

The aim of this research is to find out the adequacy and appropriateness of revenue recognition procedures in mobile phone companies and to know how well they comply with international financial reporting standards. The most important conclusion reached by the researcher is the lack of experience and know-how in the accounting and administrative staff working in most mobile phone companies. The most important recommendations of the research are the need to provide an efficient accounting and administrative staff with sufficient experience and know-how in the methods of recognizing revenues generated by mobile phone companies.

Alibaba Group Initial Public Offering: A Case Study of Financial Reporting Issues

2016 ◽  
Vol 31 (4) ◽  
pp. 449-460 ◽  
Author(s):  
Qing L. Burke ◽  
Tim V. Eaton
Keyword(s):  
New York ◽  
Initial Public Offering ◽  
Financial Reporting ◽  
Stock Exchange ◽  
Financial Accounting ◽  
Learning Needs ◽  
York Stock Exchange ◽  
Accounting Courses ◽  
Chinese Company ◽  
Public Offering

ABSTRACT In September 2014, the Chinese e-commerce giant Alibaba Group Holding Limited issued shares on the New York Stock Exchange, making it the world's largest initial public offering. This case examines different aspects of the Alibaba Group's initial public offering, including Alibaba Group's business model, financial reporting and corporate governance, as well as the macroeconomic, political, and legal environment in which the company operates. In addition, this case will familiarize students with the risks and opportunities for Chinese companies and investors when a Chinese company lists in the U.S. This case is suitable for financial accounting and international accounting courses at the intermediate and advanced levels for undergraduates as well as graduate students. The case is scalable, and instructors can choose from multiple sections of the case and different case questions to tailor the case difficulty to their students' learning needs.

Jones Enterprises Real Estate Investment Trust: Comparing U.S. and Canadian Acquisition Accounting, Balance Sheet and Security Commission Reporting, and Initial Public Offering Location

2018 ◽  
Vol 33 (2) ◽  
pp. 35-42
Author(s):  
Natalie Tatiana Churyk ◽  
Alan Reinstein ◽  
Lance Smith
Keyword(s):  
Real Estate ◽  
Initial Public Offering ◽  
Financial Reporting ◽  
Balance Sheet ◽  
Accounting Students ◽  
Real Estate Investment ◽  
Generally Accepted Accounting Principles ◽  
Balance Sheets ◽  
Advantages And Disadvantages ◽  
Public Offering

ABSTRACT Based on a Big 4 real estate audit partner's client, this case introduces graduate research and advanced financial accounting students to acquisition accounting under U.S. generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRS), provides a perspective on real estate investment trusts (REITs), and requires analyzing a U.S. versus Canadian (Ontario) initial public offering (IPO). Students list U.S. and Canadian advantages and disadvantages of REITs, record a portfolio purchase, prepare U.S. GAAP and IFRS balance sheets in order to grasp major REIT reporting differences, contrast the key provisions between U.S. and Canadian (Ontario) securities commissions' IPO reporting, and consider ongoing securities commissions' reporting options. Finally, students will recommend whether the IPO should be issued in the U.S. or Canada. Completing the case helps students: (1) grasp U.S. GAAP and IFRS acquisition accounting methods and different REIT presentations; and (2) recognize that the country selected for the IPO depends upon the issuer's circumstances and preferences.

Growing Pains at Groupon

2013 ◽  
Vol 29 (1) ◽  
pp. 229-245 ◽  
Author(s):  
Saurav K. Dutta ◽  
Dennis H. Caplan ◽  
David J. Marcinko
Keyword(s):  
Financial Reporting ◽  
Intrinsic Value ◽  
Securities And Exchange Commission ◽  
Internal Controls ◽  
Revenue Recognition ◽  
Material Weakness ◽  
Going Public ◽  
Right Of Return ◽  
Growing Pains ◽  
Financial Metrics

ABSTRACT On November 4, 2011, Groupon Inc. went public with an initial market capitalization of $13 billion. The business was formed a couple of years earlier as an offshoot of “The Point.” The business grew rapidly and increased its reported revenue from $14.5 million in 2009 to $1.6 billion in 2011. Soon after going public, prior to its announcement of its first-quarter results, the company's auditors required Groupon to disclose a material weakness in its internal controls over financial reporting that impacted its disclosures on revenue and its estimation of returns. This case uses Groupon to motivate discussion of financial reporting issues in e-commerce businesses. Specifically, the case focuses on (1) revenue recognition practices for “agency” type e-commerce businesses, (2) accounting for sales with a right of return for new products, and (3) use of alternative financial metrics to better convey the intrinsic value of a business. The case requires students to critically read, analyze, and apply authoritative accounting guidance, and to read and analyze communications between the Securities and Exchange Commission (SEC) and the registrant.

Idiom as the intersection of conceptual and syntactic schemas

2014 ◽  
Vol 6 (4) ◽  
pp. 492-509 ◽  
Author(s):  
DANIEL SANFORD
Keyword(s):  
Frequency Effects ◽  
Token Frequency ◽  
Metaphor Theory ◽  
Idiomatic Expressions ◽  
The Status ◽  
On Line ◽  
Key Issues ◽  
Idiomatic Meaning

abstractTwo key issues in the study of idiom are the metaphorical status of idioms (whether or not underlying metaphors are active in the on-line processing of figurative idiomatic expressions) and the compositional status of idioms (whether or not the overall meaning of such expressions is analyzable from internal elements). This study addresses these questions from the perspective of emergent metaphor theory (Sanford, 2012, 2013), arguing that key properties of such expressions − idiosyncrasy of both form and meaning, the potential for idiom to be manipulated in discourse, and diachronic patterns in changes of idiomatic meaning − follow from the status of metaphorical idioms as highly entrenched instances of both conceptual and syntactic mappings. In the case of both types of schema, the interaction of type and token frequency effects predict the metaphoricity and analyzability of idioms.

The Hole in the Doughnut: Accounting for Acquired Intangibles at Krispy Kreme

2006 ◽  
Vol 21 (3) ◽  
pp. 297-312 ◽  
Author(s):  
Lori Holder-Webb ◽  
Mark Kohlbeck
Keyword(s):  
Executive Compensation ◽  
Initial Public Offering ◽  
Financial Reporting ◽  
Real World ◽  
Intangible Assets ◽  
Purchase Price ◽  
Real World Setting ◽  
Exit Costs ◽  
Accounting Courses ◽  
Public Offering

Krispy Kreme Doughnuts, Inc. used a 2000 initial public offering (IPO) to embark on an active expansion and franchise reacquisition program. This case focuses on this high-visibility franchise reacquisition program and several associated and highly controversial accounting issues, and provides an opportunity to examine numerous technical and conceptual issues in a real-world setting. In the case, you will encounter a variety of financial reporting issues—from identification and valuation of uncommon intangible assets in Part 1, to acquisition accounting, purchase-price allocations, contingent consideration, exit costs, executive compensation, and loan impairments in Part 2. The case is appropriate for use in intermediate and advanced accounting courses.

Shreffler Stores Accounting Issues Related to Consumer Receivables, Asset Impairment, and Discontinued Operations: A Problem-Based Learning Unfolding Problem

2010 ◽  
Vol 25 (4) ◽  
pp. 775-787 ◽  
Author(s):  
Philip G. Cottell
Keyword(s):  
Financial Reporting ◽  
Problem Based Learning ◽  
Actual Case ◽  
Financial Reports ◽  
Capstone Course ◽  
Accounting Firm ◽  
Accounts Receivable ◽  
Team Working ◽  
Asset Impairment ◽  
Discontinued Operations

ABSTRACT: Shreffler Stores, a large, diversified holding company in the retail industry has recently acquired Value Amalgamated Lots (VAL), a catalog retailer. In the following Problem-Based Learning unfolding problem, students will assume the role as a member of the financial reporting team, working on the Shreffler Stores’ annual report for several periods. Students will focus on issues relating to the operations of VAL, the subsequent impact on the financial reports of Shreffler Stores, and how results drive later management decisions. The events were taken from an actual case encountered in the conduct of an audit performed by a public accounting firm. Among the accounting concepts addressed are accounts receivable, impairments of different kinds of assets, and accounting for discontinued operations. The problem can be used as a whole in a capstone course or in pieces as part of an intermediate course.

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