This application scenario asks students to assume the role of an auditor and use their professional judgment to perform a fraud risk assessment as part of the audit planning process for Jameson Family Farms, a family-owned business that grows and sells peanuts. As a result of the assessment, student...

This application scenario asks students to assume the role of an auditor and use their professional judgment to perform a fraud risk assessment as part of the audit planning process for Jameson Family Farms, a family-owned business that grows and sells peanuts. As a result of the assessment, student...

A scenario where the student assumes the role of a junior accountant at Transcontinental Energy Company, an independently owned explorer and producer of oil and natural gas, and must make a judgment about recording a loss contingency regarding possible asset expropriation related to TEC’s assets in...

A scenario where the student assumes the role of a junior accountant at Asbat, a leading pharmaceutical company, and must make a judgment about recording a valuation allowance against the deferred tax asset created by a net operating loss carryforward.

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A scenario where the student assumes the role of the controller for AKS, a consumer electronics company, and must make a judgment to determine possible goodwill impairment using a qualitative assessment over a multi-year period.

Part II: Students should be broken into groups to either assume the r...

A scenario where the student assumes the role of the controller for AKS, a consumer electronics company, and must make a judgment to determine possible goodwill impairment using a qualitative assessment over a multi-year period.

Part I: students apply the professional judgment framework to make a...

A scenario where the student assumes the role of the new controller of United Super Steel, a steel producer, and must make a judgment about recording an environmental obligation due to contamination of a production site over a multi-year period.

Part II: student assumes a new role as the audit sen...

A scenario where the student assumes the role of the new controller of United Super Steel, a steel producer, and must make a judgment about recording an environmental obligation due to contamination of a production site over a multi-year period.

Part I: students apply the professional judgment fra...

A scenario where the student assumes the role of the new controller of the Prescott Company, a commercial real estate developer, and must make a judgment about the potential refinancing of its mortgage loan.

Part III: students prepare the final written memorandum of their judgment relative to the...

A scenario where the student assumes the role of the new controller of the Prescott Company, a commercial real estate developer, and must make a judgment about the potential refinancing of its mortgage loan.

Part II: students apply the professional judgment framework to make a judgment regarding t...

A scenario where the student assumes the role of the new controller of the Prescott Company, a commercial real estate developer, and must make a judgment about the potential refinancing of its mortgage loan.

Part I: students define the issues relative to the scenario

Note: This application scena...

A scenario where the student assumes the role of an audit senior of the client engagement team for RimStar Music Company and must make a judgment about the reasonableness of the client’s judgment for the useful life of a new copyright for its collection of a fusion genre of gospel songs and country...