Susan B. Hughes
Butler University
Douglas A. Boedeker
Tate & Tryon CPAs and Consultants
Abstract: Advanced accounting textbooks (e.g., Beams et al. 1999; Hoyle et al. 2001) include material on consolidated financial statements, foreign currency issues, and governmental and not-for-profit accounting. Although the texts connect issues underlying consolidated financial statements and foreign currency fluctuations, there is little connection between consolidated financial statements and not-for-profit financial reporting. This case is designed to introduce students to consolidated financial statements within the not-for-profit environment. It is modeled after actual not-for-profit (NFP) organizations with 100 percent controlled for-profit subsidiaries. The case also incorporates issues related to a majority limited partnership interest in the NFPs office building. To assist students with their solutions, the case includes a brief overview of partnership accounting and excerpts from relevant Statements of Position (AICPA 1978 and 1994).
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