Mobile detailers, Inc.

Document Type

Article

Publication Date

1-1-2014

Abstract

CASE DESCRIPTION: The primary objective of the case is to reinforce the accounting cycle process by illustrating the true purpose of accounting which is to identify business transactions, record the transactions in the proper period, and communicate the results by preparing financial statements. The secondary objectives of the case are to encourage critical thinking, and strengthen student's understanding of accrual accounting principles. The case allows students to become familiar with the language of business, addressing terminology typically used in accounting such as 'issued', 'on account' and 'incurred'. The case is presented in two parts. The first part covers daily journal entries while the second part continues with the adjusting entries, financial statement presentation and closing entries. The case has a difficulty level of 2. It is suitable for either an Introductory Accounting course or an Intermediate Accounting course. If used in an Introductory Accounting course, students can complete Part A and B in approximately two hours each. If Instructors use the case as an in-class assignment or lab, four 50 minute class periods should be sufficient. If used as a review for an Intermediate Accounting course, students can completes Part A and B in approximately two and a half hours. CASE SYNOPSIS: John Eco and Manning Stewart have just graduated from college. They have raised financing from family to start their new venture which is based upon a business plan created in college. Mobile Detailers, Inc. is a car detailing service. During their first month John and Manning tackle issues common in many new businesses. Will Mobile Detailers win the race or crash and burn?

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