I. “Actively Reading” a Case Assignment
Step One: Read and then Write the Question being asked.
1. What is the question you have to answer? Write the question below. Do not merely recite the facts or the prompt, but rather focus on what the client who contacted Justin Time wants to know.
2. Who is asking you the question? Why? What is your role? Are you in-house at a company or at an accounting firm?
Step Two: Read the Facts
3. Why is the client asking the question you identified above? What business strategy, practice, or decision has created the client’s accounting question? Why did the client choose this action?
Step Three: Read the Facts again
4. Create a timeline from the facts given in the iVineyard “Demo” Research Question Memo – what is happening when at iVineyard?
II. Developing Keywords for FASB ASC search
• What “accounting terms” or principles are mentioned? Which “accounting terms” or principles came to mind while you were reading the facts?
• What facts are directly relevant to accounting (e.g. sales, expenses, etc.)?
• What is the “corpus” of the potential accounting treatment? (e.g. what product is being made or sold?)
5. Write a “keyword search” for researching FASB ASC oniVineyard “Demo” Research Question Memo you would enter in the FASB ASC site and then compare with your teammates.
