Honors Theses
Date of Award
Spring 5-9-2020
Document Type
Undergraduate Thesis
Department
Accountancy
First Advisor
Victoria Dickinson
Relational Format
Dissertation/Thesis
Abstract
This thesis encompasses the information gathered through a series of twelve accounting case studies that I completed throughout the 2018-2019 school year. These case studies explore various accounting theories and concepts within financial reporting and accounting as well as situations that I may find myself faced with in the short term. The case studies required the application of concepts learned over several accounting courses to realistic scenarios and real-life examples and the development of skills to analyze software and complex accounting transactions.
The case studies included topics such as accounting for contingencies, joint venture and equity method investments, pension accounting and retirement obligations, and analysts’ expectations and public company earnings releases. For these studies, a detailed review of companies’ balance sheets, income statements, statements of cash flows, as well as the notes to the financial statements was necessary. I learned the extent of supplementary information that companies disclose within their 10-Q and 10-K footnotes. Detailed analysis of companies footnotes and tracking on how the footnotes were changed and updated over time, in addition to the financial statements, supported my research. In addition, some of the case studies delved into personal decisions and situations such as determining which city to pursue an accounting career in, considerations of law degrees versus accounting degrees when it comes to tax accounting, and our thoughts on audit firms current focus on the balance sheet versus the income statement. This research expanded my knowledge of challenging accounting concepts and prepared me for my career in public accounting.
Preparing the case studies improved my researching skills and knowledge of current and complex accounting topics and how they impact companies today. It also gave me insights into the challenges faced by public accountants as many of the issues were not black and white, but involved significant judgment, which with hindsight, was not always accurate. One of the main takeaways of my thesis is that public accountants and the companies they audit need to work together to ensure that they reach consensus on the stances they take on material matters, especially the matters which involve incomplete information and significant judgment calls. Knowing the intricacies involved in some of the highly technical accounting topics in these case studies encourages me to consult with others on my team and subject matter experts when faced with significant, material issues.
Recommended Citation
White, Delaney, "A Comprehensive Review of Accounting Topics through Case Studies and Analysis" (2020). Honors Theses. 1284.
https://egrove.olemiss.edu/hon_thesis/1284
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