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The Trueblood Case Studies


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For a complete index of Cases and Addendum summary please click the download button above.   


The Trueblood Series cases and solutions are available in Adobe PDF format below. Solutions are password protected for faculty use only. Access to solutions by other unauthorized individuals is strictly prohibited. To find out how to obtain access to the case solutions, please contact us via e-mail or mail a request on your school letterhead to:

Deloitte Foundation
Ten Westport Road
Wilton, CT 06897

Due to the issuance of certain new accounting literature, changes in the status of ongoing projects during the last year, or evolution of practice, addenda have been added to a number of the existing cases. To see if a case has been updated, please click on the download button above. Because an addendum may affect the solution for a case study, you should review the updated solutions.

The nonexclusive right to reproduce material contained in these cases without explicit written permission is hereby granted to faculty in connection with classroom use, academic research, and other educational endeavors of a not-for-profit nature.

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2013 Case Index

Case: 13-1 Refer-a-friend gift card
Download: Case | Solution
Type: Revenue recognition
Subject: Determine the appropriate accounting for discounts provided to customers who refer new customers to a company, commonly known as “Refer-a-Friend” programs.
Applicable courses: Intermediate

Case: 13-2 Buck's Dilemma: Gross or Net?
Download: Case | Solution
Type: Cash flows
Subject: Determining when borrowings and payments under a revolving line of credit may be presented on a net (versus gross) basis within the statement of cash flows.
Applicable courses: Intermediate

Case: 13-3 Hearts ‘R Us Preferred Stock Classification
Download: Case | Solution
Type: Financial instruments
Subject: Determine the accounting for preferred shares with redemption features.
Applicable courses: Intermediate or Graduate

Case: 13-4 Gator Electronics
Download: Case | Solution | Handout 1 | Handout 2 
Type: Audit fair value
Subject: Identifying the key assumptions used in a discounted cash flow analysis prepared in conjunction with a goodwill impairment analysis and determining what audit procedures could be performed on these assumptions.
Applicable courses: Auditing or Graduate course integrating Financial Reporting and Auditing

Case: 13-5 Occupy Mall Street
Download: Case | Solution
Type: Stock based compensation
Subject: Determine the accounting treatment for different aspects of a share-based payment awards.
Applicable courses: Intermediate or Graduate

Case: 13-6 Natural Irony
Download: Case | Solution
Type: Natural disaster
Subject: Application of considerations around lag reporting - instances in which a consolidated entity uses subsidiary financial information with different fiscal year-end dates.
Applicable courses: Advanced or Graduate

Case: 13-7 Definition of a Business
Download: Case | Solution
Type: Business Combinations
Subject: Determining whether a purchase transaction should be deemed as an acquisition of a business or a group of assets.
Applicable courses: Advanced or Graduate

Case: 13-8 Accounting for Loss Contingency for a Verdict Overturned on Appeal
Download: Case | Solution
Type: Contingencies
Subject: Apply the key concepts of accounting for contingencies pursuant to the guidance in ASC 450, Contingencies.Applicable courses: Intermediate or Auditing

Case: 13-9 ZOU's Fencing Controls
Download: Case | Solution | Handout

Type: Internal Controls
Subject: Evaluate procedures to assess the design, implementation, and operating effectiveness of internal controls.Applicable courses: Auditing

Case: 13-10 LOL – Income taxes
Download: Case | Solution | Handout
Type: Income Taxes
Subject: Determining the sources of taxable income to support whether a DTA will more likely than not be realized in the future and auditing management’s assertions on future taxable income and valuation of deferred tax assets.
Applicable courses: Intermediate or Graduate

Case: 13-11 LOL – Business combinations
Download: Case | Solution
Type: Income Taxes
Subject: Determining a change in the valuation allowance and adjustments to such allowances on DTA resulting from a purchase business combination.
Applicable courses: Intermediate or Graduate

2012 Case Index

Case: 12-1 An Unlikely Alliance
Download: Case | Solution
Type: Consolidations
Subject: Applying key concepts of the VIE model in ASC 810-10 (Statement 167).
Applicable courses: Advanced or Graduate

Case: 12-2 To Recognize or Not to Recognize, That Is the Question
Download: Case | Solution
Type: Subsequent events
Subject: Determining whether subsequent events should be recognized and/or disclosed.
Applicable courses: Auditing

Case: 12-3 Provisions and Contingencies
Download: Case | Solution
Type: Contingencies
Subject: Determining the accounting for provisions and contingencies under IFRS and U.S. GAAP.
Applicable courses: Intermediate or Graduate

Case: 12-4 Hemo-Tech
Download: Case | Solution
Type: Revenue Recognition
Subject: Accounting for multiple-element revenue transactions under U.S. GAAP  (specifically identifying deliverables and determining selling price) and exploring the sources of IFRS guidance for such transactions
Applicable courses: Intermediate or Graduate

Case: 12-5 Aren't We Done Yet?
Download: Case | Solution
Type: Revenue Recognition
Subject: Determine the accounting considerations involved in the use of contract accounting methodologies, assess the circumstances in which a change in the method of revenue recognition may be appropriate, and determine whether such changes are a change in accounting principle versus the application of an accounting policy.
Applicable courses: Intermediate

Case: 12-6 Philadelphia Communications
Download: Case | Solution
Type: Receivables
Subject: Determining the accounting for Receivables from Officers and Directors.
Applicable courses: Intermediate

Case: 12-7 Claims, Litigation, Settlements, and More Claims!    
Download: Case | Solution
Type: Audit Fair Value/Environmental Liabilities
Subject: Apply the key concepts in ASC 450-20 to the accounting for claims-based litigation liabilities and evaluate the appropriateness of the audit engagement team’s procedures for testing the reasonableness of management’s reserve estimates.
Applicable courses: Auditing or Graduate Course Integrating Accounting and Auditing

Case: 12-8 Going, Going, Gone
Download: Case | Solution | Appendix 1 | Appendix 2 | Appendix 3 | Appendix 4
Appendix 5
Type: Going Concern
Subject: Determining the appropriateness of an entity’s going concern assumption.
Applicable courses: Auditing

Case: 12-9 Rough Waters Ahead
Download: Case | Solution
Type: Fair Value
Subject: Determine the accounting for impairment of long-lived assets in accordance with ASC 360-10.
Applicable courses: Intermediate or Graduate

Case: 12-10 Acquisition of a Legal Subsidiary in Bankruptcy
Download: Case  | Solution
Type: Business Combinations
Subject: Determine the appropriate accounting for the acquisition of a former subsidiary in bankruptcy and the appropriateness of fresh start reporting or push down of new basis to the acquiree.
Applicable courses: Advanced or Graduate

 

2011 Case Index

Case: 11-1 Polluter
Download: Case | Solution
Type: Cash flows US and IFRS
Subject: Statement of Cashflows classification
Applicable courses: Intermediate

Case: 11-2(a) Fair Value Hierarchy 
Download: Case | Solution |Appendix
Type: Fair Value
Subject: Determining fair value hierarchy per ASC 820 and reconciliation of investments valued with Level 3 inputs.
Applicable courses: Graduate

Case: 11-2(b) Fair Value Disclosures
Download: Case | Solution 1 | Solution 2 | Appendix
Type: Fair Value
Subject: Determining quantitative and qualitative disclosures for assets and liabilities that are measured at fair value on a recurring basis under ASC 820.
Applicable courses: Graduate

Case: 11-3 Masters of the Universe
Download: Case | Solution
Type: Consolidation of Variable Interest Entities
Subject: Applying key concepts of the VIE model in ASC 810-10 (Statement 167).
Applicable courses: Advanced or Graduate

Case: 11-5 Venus Cellular
Download: Case | Solution
Type: Income Statement Presentation
Subject: Identifying presentation issues in the statement of comprehensive income or the income statement under U.S. GAAP and IFRS
Applicable courses: Intermediate

Case: 11-6 Lessee, Ltd.
Download: Case | Solution
Type: Lease accounting US and IFRS
Subject: Determining the appropriate classification and accounting for a lease arrangement under U.S. GAAP and IFRS
Applicable courses: Intermediate or Graduate

Case: 11-7 Food for Thought
Download: Case | Solution
Type: Business Combinations
Subject: Determining consideration transferred, fair value of assets acquired and liabilities assumed and valuation of intangible assets under ASC 805.
Applicable courses: Advanced or Graduate

Case: 11-8 Billy's Beats
Download: Case | Solution
Type:Professional judgement
Subject: Using professional judgment to evaluate the reserve estimates based on management representations.
Applicable courses: Undergraduate or Graduate Auditing

Case: 11-9 Goodwill Impairment Testing
Download: Case | Solution
Type: Goodwill Impairment
Subject: Determining if an interim goodwill impairment test should be performed and if the goodwill impairment analysis performed at the last annual testing date can be carried forward to the current year.
Applicable courses: Intermediate or Graduate

2010 Case Index

Case 10-3 Restructuring Costs
Download: Case | Solution (Coming soon)
Type: Restructuring Costs 
Subject: Accounting for restructuring costs under IFRS and U.S. GAAP
Applicable courses: Intermediate or Graduate

Case 10-4 Lack of Information
Download: Case | Solution
Type: Asset Retirement Obligations
Subject: Assessing whether sufficient information exists to measure an asset retirement obligation.
Applicable courses: Intermediate or Graduate

Case: 10-7 Impaired Abilites
Download: Case | Solution
Type: Investments
Subject: Assessing whether investments are other than temporarily impaired
Applicable courses: Intermediate or Graduate

Case: 10-8 Allie Enterprises Company
Download: Case |Solution
Type: Investments; Fair Value
Subject: Auditing investments: existence and valuation
Applicable courses: Auditing or Graduate course integrating Financial Reporting and Auditing

Case: 10-9 Institutional Investor Company
Download: Case | Solution
Type: Investments; Fair Value
Subject: Auditing investments: existence and valuation
Applicable courses: Auditing or Graduate course integrating Financial Reporting and Auditing

Case: 10-11 Eye Vision
Download: Case |Solution
Type: Revenue Recognition
Subject: Multiple deliverables/software revenue recognition
Applicable courses: Intermediate or Graduate

2009 Case Index

Case: 09-2 Pharmgen Pharmaceuticals
Download: Case |Solution
Type: Funded R&D
Subject: Understanding the implications of and accounting for R&D funding arrangements. The case focuses on the difficulty of deciding how to account for R&D contractual arrangements.
Applicable courses: Intermediate or Graduate

Case 09-4 Needs Space
Download: Case | Solution
Type: Lease accounting
Subject: Accounting for asset retirement and similar obligations imposed under the terms of a lease agreement.
Applicable courses: Intermediate or Graduate

Cases: 09-5 and 09-5(a) Pit Stop Closed/Sold
Download: 09-5 Case | Solution 09-5(a) Case | Solution
Type: Discontinued operations
Subject: Determining whether an asset disposal qualifies for presentation as a discontinued operation.
Applicable courses: Advanced or Graduate

Case: 09-6 UpBeat, Inc.
Download:Case | Solution
Type: Transfers of financial assets
Subject: Accounting for the transfer and servicing of financial instruments. The case requires students to determine whether particular provisions preclude sales treatment.
Applicable courses: Advanced or Graduate

Case: 09-8 Classified Information
Download: Case | Solution
Type: Income statement presentation
Subject: Issues related to the appropriate placement of items in the income statement. The case is designed to illustrate some common issues related to income statement presentation.
Applicable courses: Intermediate or Graduate

Case: 09-9 Bricks & Mortar
Download: Case | Solution
Type: Income taxes
Subject: Accounting for uncertain tax positions. The case illustrates the judgments involved in applying FIN48.
Applicable courses: Intermediate or Graduate Accounting or Tax course covering FIN48

2008 Case Index

Case: 08-2 - Sooner or Later
Download: Case |Solution
Type: Stock compensation 
Subject: Understanding the implications of performance measures in the accounting for share-based compensation.
Applicable Courses: Intermediate or graduate course

Case: 08-4 The Bear Minimum
Download: Case | Solution
Type: Lease accounting
Subject: Identifying minimum lease payments.
Applicable Courses: Intermediate

Case: 08-5 - Sell-It Products
Download: Case | Solution
Type: Segment reporting
Subject: Analyzing selected financial statement data to identify operating segments and determining which of those are reportable segments.
Applicable Courses: Intermediate or graduate

2007 Case Index

Case: 07-4 Murray Compensation
Download: Case | Solution
Type: Accounting
Subject: Accounting for modifications to share-based payment awards. Requires the calculation of share based payments including the impact of reducing the exercise price.
Applicable Courses: Intermediate accounting or graduate course.

2005 Case Index

Case: 05-6 Centcom, Inc.
Download: Case | Solution
Type: Accounting
Subject: Consolidation (consolidation in accordance with the guidance under IFRS)
Applicable Courses: Advanced or graduate

Case: 05-7 Ace Company
Download: Case| Solution |Exhibit
Type: Accounting
Subject: Derivatives (equity instruments with multiple components)
Applicable Courses: Graduate

2004 Case Index

Case: 04-4 Three Little Pigs, Inc.
Download:Case | Solution
Type: Accounting
Subject: Inventory (assessing and reporting of impairment of inventories - LOCOM)
Applicable Courses: Intermediate - inventory valuation

Case: 04-8 Drug King
Download: Case | Solution
Type: Accounting
Subject: Derivatives (accounting for assets transfers with related puts and calls)
Applicable Courses: Graduate