This case presents intermediate-level accounting and finance students with the task of constructing a U.S. GAAP-based statement of cash flows and performing financial and non-financial analysis to inform a decision about whether a company—Contempri Homes—should undertake an IPO. Students use a rich data set of recent financial statements, financial disclosures, and financial and operating data to prepare the company's statement of cash flows, conduct analysis, and make written recommendations regarding the proposed IPO. Case learning objectives include (1) simulation of accounting practice in a realistic setting, (2) development of a holistic view of the financial statements, (3) practice in cash flows financial reporting and analysis, and (4) practice in analyzing financial and non-financial factors for decision making. The case is designed specifically for the second intermediate financial accounting course and is well suited for use in other intermediate- or advanced-level financial accounting or finance courses.

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