This Graeber Companies, Inc. case is appropriate for use in the first or second auditing course. It engages students with a realistic simulation (based on an actual company's experience) of the complexities and estimates auditors face, and judgments they must make, in the course of an audit. It also provides an application of the new standards on fair value measurement, which is one major achievement of the FASB/IASB convergence project. The subject matter covered in this case includes concepts that are usually discussed in intermediate or advanced accounting textbooks. The subject of impairment may be introduced in beginning textbooks, but most do not include an in-depth analysis or discussion of advanced cases. Although impairment is covered in greater depth in more advanced textbooks, not all of these textbooks include examples that incorporate realistic events and specific examples of the variables and different types of information companies can face in determining...
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1 November 2012
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November 01 2012
Graeber Companies, Inc.: Examining Impairment of Equity-Owned Investments Available to Purchase
Belverd E. Needles, Jr.
Belverd E. Needles, Jr.
Belverd E. Needles Jr. is a Professor at DePaul University.
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The author thanks the management, especially the CFO, of the company on which this case is based for providing access to data and documents for the case as well as reading and providing input to various drafts. Further, the author appreciates the input of colleagues and students in the School of Accountancy at DePaul University provided throughout the development and testing of this case in the Lang Student Case Competitions.
2012
Issues in Accounting Education Teaching Notes (2012) 27 (4): 84–98.
Citation
Belverd E. Needles; Graeber Companies, Inc.: Examining Impairment of Equity-Owned Investments. Issues in Accounting Education Teaching Notes 1 November 2012; 27 (4): 84–98. https://doi.org/10.5555/iace-50234TN
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