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ACTG 2020 (73)

Accounting for success

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York University
ACTG 2020
Sylvia Hsingwen Hsu

Managerial Accounting ACTG2020 Jessica Gahtan Table of Contents Accounting for Success: The Guide to Case Resolution 1 Managerial Accounting ACTG2020 Jessica Gahtan Reading the Case Reading The Case: Objectives • Identifying the work “required” and explanatory paragraphs • Understanding the exact nature of the assignment • Considering the role to be played • Determining the case parameters • Retrieving the relevant case facts and hints to be taken into account in the response • Properly planning out the resolution of the various problems or issues Reading The Case • Becoming familiar with the entity’s background • Bringing out current problems and issues o How to identify subjects that need to be discussed o How to determine what is wrong within an entity o How to find out what is changing • Learning to detect implicit problems or issues using the hints you come across when reading the case • Determining the main focus of the assignment Reading The Exhibits • Knowing how to analyze exhibits according to the case parameters • Knowing what to look for when examining financial statements o What are the key ratios? o Was there an audit? o How to identify unusual items • Knowing how to establish links between various pieces of information relating to the same subject • Reading all the exhibits carefully from beginning to end Annotations • Taking the case “Subject” into account • Making it easy to retrieve relevant case facts o What words to encircle or underline o How to bring out what is essential • Learning how to categorize information o What classification criteria to use How to make margin annotations Checklist And Work Sheets • Identifying situations where the checklist is useful How it is structured o What type of information it contains o How it can be made more functional • Discovering the usefulness of work sheets o What they contain o How they help determine the case parameters Drafting A Response Outline • Understanding the importance of the response outline • Taking the time to rank the problems or issues by order of importance o What aspects to take into account o How to interpret case hints properly • Learning how to divide up the response writing time Accounting for Success: The Guide to Case Resolution 2 Managerial Accounting ACTG2020 Jessica Gahtan Analysis of a Case Analysis Of A Case: Objectives • Building up one’s knowledge of a range of subjects • Learning to structure an integrated approach • Linking the solution to the case facts • Improving one’s reading of the next case • Determining those elements essential for a successful case • Identifying the interrelationships between sections and subjects • Understanding quantitative analysis • Linking together quantitative and qualitative analyses • Presenting one’s ideas more efficiently • Being able to evaluate one’s own response Analyzing The Suggested Solution • When to analyze the suggested solution • How to read and analyze the suggested solution o What are the stages? o Why bring out the case parameters? • How to examine the components of a suggested solution o What questions to ask oneself o How to recognize relevant ideas • How to annotate the suggested solution Analyzing The Evaluation Guide • Understanding the basic characteristics of the evaluation approach • Making a detailed analysis of the contents of the evaluation guide o Studying the evaluation structure o Bringing out the key elements of each component o What are the criteria required for the passing level or standard?  • Establishing one’s findings after analyzing the suggested solution and the evaluation guide Marking A Simulation • How to obtain an objective evaluation of one’s performance • How to assess the suitability of an idea • How to determine the level of performance achieved o Evaluating one’s performance when the evaluation criteria are general o Determining what elements can affect an evaluation • How to comment on one’s own response to a case simulation Evaluating One’s Performance • Looking at one’s simulation results objectively o How to situate one’s performance o Why one needs to put results into perspective • Analyzing one’s simulation from a plurality of viewpoints o What aspects to examine and how to improve them o How to br
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