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Velocity

In: Business and Management

Submitted By yaiq08ab
Words 657
Pages 3
Team Cases

The cases are assigned for their ambiguity, i.e. solutions are not clear cut. These cases were real-life situations encountered by corporations. Since solutions were not clear cut, corporations approached accounting firms for guidance. Deloitte, Touche & Tohmatsu used these issues to compile a series of cases to provide students the opportunities to have a “hands-on” experience in how accounting firms go about looking for a solution.

To assist students in completing the assignment, sample cases with solutions were posted. Students would need to use FASB Codification database (the same one used by accounting firms). You can access the database through: http://aaahq.org/ascLogin.cfm Userid: AAA52120 Password: 6HxBPpx

The main purposes of the cases are: 1. Provide hands-on experience in using FASB Codification to research for accounting solutions. 2. Encourage team effort to examine possible solutions and come to a consensus well supported by accounting rules and pronouncements.

There are many solutions to the cases, some better (or more in line with the pronouncements) than others. I look forward to your explorations with untainted young minds to come up with mesmerizing solutions. Any consultation with the instructor could bias your approach. It may even mislead the team to think that the discussion is about “the solution” and therefore negate the second purpose of this assignment.

Students should study the sample solutions carefully and use them as guidance in the pursuit of “the solution” to their own case.

Guide:
Recommend two possible solutions which should be definitive and succinct – be firm with your proposal(s). Like the samples, you should list the relevant pronouncements that you will be using to argue for or against your proposed solutions. Conclude with what you think would be the most logical solution.
Suggestions:
1. State the research question in a simple statement so that the reader knows what you are trying to present. Do not repeat the case background. 2. Try to be brief when citing pronouncement. Include only the relevant words or phrases. Do not copy large chunks of text. 3. Journal entries should be self explanatory. You do not need to describe the items in the entries, i.e., we debit cash of $100 and credit …

Due Dates (see class schedule):
Reports must be timely submitted:
In Digital copy using Microsoft WORD format via email (engwu@bu.edu) with section # and team # in the subject line. Make sure you send from BU mail, mail from other providers might be junked!
Do not send in any other format, e.g. pdf

Reports:
Presentation should strictly adhere to the following:
Cover page with team number appearing on the top right hand corner (to facilitate sorting). Include the case title and the names of the participants elsewhere on the cover.
The main report must not exceed three pages. Just as in the sample solutions, your report is headed: a) the Objectives of the Case, b) Applicable Professional Pronouncements, c) Discussion with at least two possible solutions and finally, d) the chosen solution.
The reports, with pages numbered, must be formatted for printing on standard letter size paper. All pages to be in Times Roman font 12 or similar, double line spacing, and one inch margin all round. Avoid any pictures or shadings except deemed absolutely necessary in the Exhibits only.

Grading a) 30% - timely submission and strict adherence to formatting b) 20% - organization of paper in the similar sequence as the sample solutions c) 25% - sound argument based on cited pronouncements; readability d) 25% - logical and persuasive conclusion

Contribution
I expect all members of each team to carry a fair share of the work submitted. If you feel strongly that some of the members are carrying the full load while some are free-riders, please send me an email detailing your thoughts. If I receive more than one feedback about a particular member, I’ll investigate and the grade for that member will be adjusted accordingly.…...

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