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Selling Out at Daytona Dreams Restaurant: Linking Accounting Systems with Business Valuation
Vincent J. Shea,
Kent State University
Kevin E. Dow, Kent State University
Bobby E. Waldrup, University of North Florida
ABSTRACT. This case presents a privately held restaurant which is currently under acquisition consideration by a publicly traded restaurant group which follows internal control guidance as stipulated by The Committee of Sponsoring Organizations (COSO) guidelines. A common problem encountered in accounting information systems (AIS) education is that students fail to understand how system reporting weaknesses affect the value of the firm. The main objective of this case is to present students with a casual link among (1) internal control weakness in the business processes of a restaurant, (2) financial statement assertions, and (3) management decisions about firm value. Students are tasked with identifying and translating control weaknesses into the case’s business valuation decision. The case is appropriate for advance undergraduate and graduate AIS and audit classes
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