The Accounting Case @ Learning Team 50

6 Pages Posted: 30 May 2017

See all articles by Siew Han Sim

Siew Han Sim

University of Virginia - Darden School of Business

Luann J. Lynch

University of Virginia - Darden School of Business


This case works well following an introductory class on transaction analysis and preparation of basic financial statements. A learning team of Darden MBA students meets to discuss the case assigned for the following day's accounting class. Two members who are CPAs realize that the team will lack basic understanding of the material unless they intervene. The case-within-a-case structure serves to highlight common misconceptions among students new to the material on one level and, simultaneously, common accounting oversights among entrepreneurs on the other.



Rev. Mar. 24, 2014


It was getting late on a cold Wednesday as Sim, delegated to prepare the next day's accounting case, began to share his work with the rest of his learning team. (An integral part of the first-year MBA experience at Darden, learning teams comprised five or six classmates who met nightly to prepare for the next day's classes.) It had been a grueling week, and everyone was tired and restless, so after a long discussion about a marketing case whose numbers made absolutely no sense, nobody objected when Michelle and Caroline suggested Sim share his spreadsheet with the group. Then they could all go home and prepare the case individually. Sim responded sheepishly:

I had a company briefing, an office meeting, and a Global Business Experience Program briefing today, so I didn't spend as much time on the case as I would have liked. Honestly, I didn't even get to the second assignment question! Maybe Michelle and Caroline can check my numbers and help us out with that one.

Michelle and Caroline, housemates who were the learning team's accounting experts, admitted that they hadn't read the case at all, but promised they would read it, review Sim's work on the first question, and address the second question.

. . .

Keywords: accrual, accounts receivable, COGS, lower of cost or market value, income statement, balance sheet, cash flow

Suggested Citation

Sim, Siew Han and Lynch, Luann J., The Accounting Case @ Learning Team 50. Darden Case No. UVA-C-2344, Available at SSRN:

Siew Han Sim

University of Virginia - Darden School of Business

P.O. Box 6550
Charlottesville, VA 22906-6550
United States

Luann J. Lynch (Contact Author)

University of Virginia - Darden School of Business ( email )

P.O. Box 6550
Charlottesville, VA 22906-6550
United States
434-924-4721 (Phone)
434-243-7677 (Fax)


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