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The Trueblood Case Studies
Uncovering complex accounting and auditing issues
Trueblood cases cover more than 30 topics and are available to higher education faculty. Cases are reviewed annually and are updated to reflect changes in accounting literature or the evolution of practice. New cases are added to the site annually in August.
Overview
For more than 50 years, the Trueblood Seminars have served the profession by teaching new developments in auditing and accounting to select accounting educators and thought leaders from around the country. Named after Robert M. Trueblood, the Trueblood Seminars offer educators the opportunity to learn from and network with Deloitte professionals who share their experiences and institutional knowledge which professors can take back to the classroom to better prepare students for their future careers.
The Trueblood case studies prepared by Deloitte professionals are based on recent technical issues that often require significant research and judgment. The case topics highlight the “gray” areas of accounting and help prepare students for the types of questions likely to arise in professional practice. These seminars help professors enrich the accounting curriculum to reflect the necessary skills of the auditor of the future.
The Deloitte Foundation also offers case studies covering fraud related topics. Learn more about the Deloitte Foundation Forensic Accounting Case Studies.
Access Trueblood case solutions
To obtain access to the case solutions, please e-mail us or mail a request on your school letterhead to:
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P.O. Box 10098
Stamford, CT 06901-2150
The nonexclusive right to reproduce material contained in these cases without explicit written permission is hereby granted to faculty in connection with classroom use, academic research, and other educational endeavors of a not-for-profit nature.
2024
Case 24-1: Big Mountain Amusement Park
Download: Case | Solution
Type: Segment reporting
Subject: Applying the guidance in ASC 280, Segment Reporting.
Applicable Courses: Advanced or Graduate
Case 24-2: Zenith Corporation
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Type: ESG
Subject: ESG Consideration in an Audit Engagement
Applicable Courses: Auditing
Case 24-3: Software Provider Inc.
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Type: Classification of Cryptocurrency Holdings
Subject: Accounting for holdings of cryptocurrency.
Applicable Courses: Principles of Accounting or Intermediate
Case 24-4: Who Acquired Whom
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Type: Business Combinations
Subject: Identifying the accounting acquirer in a business combination.
Applicable Courses: Advanced Accounting, Financial Accounting Research, or Graduate Financial Seminar
Case 24-5: In Heaven Health Care Corporation
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Type: Not-for-profit (Revenue)
Subject: Accounting for credits for an NFP
Applicable Courses: Interimediate, Advanced, or Graduate
Download index of cases.
Case 23-1: Greener Houses Corp.
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Type: SCOPE - Cash flow statement
Subject: Determining the appropriate classification in the statement of cash flows of various transactions.
Applicable Courses: Intermediate Financial
Case 23-2: Nearly There
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Type: Financial Instruments - Embedded Derivatives
Subject: Evaluating embedded features for bifurcation by using the guidance in ASC 815-15.
Applicable Courses: Advanced or Graduate
Case 23-3: Evaluation of Misstatements
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Type: Audit
Subject: Assessing the nature and cause of misstatements, evaluating misstatements, and determining the potential impact of those misstatements.
Applicable Courses: Auditing, Graduate Auditing
Case 23-4: ABC Software
Download: Case | Solution | Handout 1 | Handout 2 | Handout 3
Type: Audit - Critical Audit Matters
Subject: Determining the critical audit matters for the PCAOB audit of a software company.
Applicable Courses: Auditing, Graduate Auditing
Case 23-5: HawkHome Inc.
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Type: Share-Based Compensation
Subject: Determining the grant date of share-based payment awards under ASC 718.
Applicable Courses: Intermediate Financial; Advanced Financial; and Graduate Financial Seminar
Case 23-6: Fraud Risk Assessment
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Type: Audit
Subject: Understanding a fraud risk assessment in an audit of financial statements.
Applicable Courses: Auditing
Case 23-7: Current Expected Credit Losses — Financing Receivables
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Type: Financial Instruments - CECL
Subject: Applying the current expected credit loss model to loans at a consumer bank.
Applicable Courses: Intermediate Accounting, Graduate
Case 22-1: The Swap
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Type: Business Combinations
Subject: Definition of a business.
Applicable Courses: Advanced or Graduate Accounting
Case 22-2: Fair Value Hierarchy
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Type: Financial Instruments - Fair Value
Subject: Classification of instruments in the fair value hierarchy
Applicable Courses: Intermediate, Advanced, or Graduate Accounting, Advanced Auditing
Case 22-3: Shuttered Inc.
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Type: Leases
Subject:Accounting for lease concessions related to the effects of the COVID-19 pandemic.
Applicable Courses: Intermediate or Advanced/Graduate Accounting
Case 22-4: Upscale Management Co.
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Type: Revenue
Subject: Evaluating a price concession under ASC 606 and the related contract modification.
Applicable Courses: Advanced or Graduate Accounting
Case 22-5: Reacquired Rights
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Type: Business Combinations
Subject: Identifying and measuring reacquired rights resulting from a business combination under ASC 805.
Applicable Courses: Advanced or Graduate Accounting
Case 22-6: Zoovest Capital
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Type: Consolidation
Subject: Evaluating whether an investor has significant influence over an investee.
Applicable Courses: Advanced or Graduate Accounting
Case 22-7: EGF Apparel
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Type: Audit - Internal Controls
Subject: Understanding and evaluating internal control deficiencies during an audit.
Applicable Courses: Auditing, Graduate Auditing
Case 22-8: Goodwill Risk Assessment
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Type: Audit - Risk Assessment
Subject: Identifying and assessing risks of material misstatement associated with the goodwill account balance and valuation assertion.
Applicable Courses: Auditing, Graduate Auditing
Case 22-9: Auditing an Accounting Estimate—Goodwill
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Type: Audit
Subject: Auditing an accounting estimate, in this instance management’s assertion regarding whether the goodwill asset at a client continues to have a fair value greater than its carrying value.
Applicable Courses: Auditing and Advanced Auditing; Advanced Accounting
Case: 21-1 Slacker Settlement
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Type: Business Combinations
Subject: Evaluating the criteria regarding accounting for contingencies and assessing the measurement period in a business combination.
Applicable Courses: Advanced or Graduate
Case: 21-2 Contingencies – Product Recall
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Type: Contingencies
Subject: Accounting for product recalls.
Applicable Courses: Intermediate or Graduate
Case: 21-3 Order of Impairment Testing
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Type: Business Combinations
Subject: Determining the order of asset impairment testing.
Applicable Courses: Advanced or Graduate
Case: 21-4 Grocery Inc.
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Type: Revenue
Subject: Principal-versus-agent considerations under ASC 606 for a distribution and supply arrangement.
Applicable Courses: Intermediate or Graduate
Case: 21-5 Accounting for Emissions Allowances
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Type: Intangible Assets / Inventory
Subject: Accounting for emissions allowances recorded on a blockchain.
Applicable Courses: Advanced or Graduate
Case: 21-7 Mac Group & Cheese Fund
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Type: Consolidation
Subject: Applying ASC 810-10 for a decision-maker of a variable interest entity.
Applicable Courses: Advanced or Graduate
Case: 21-9 Data Analytics in Excel
Download: Case | Solution 1 | Solution 2 | Solution3 | Handout
Type: Data Analytics
Subject: Use of Data Analytics in performing audit procedures - Excel
Applicable Courses: Auditing, Intermediate Accounting, Intro Data Analytics
Case: 21-10 Data Analytics in Power BI
Download: Case | Solution 1 | Handout | Solution 2 | Solution 3
Type: Data Analytics
Subject: Use of Data Analytics in performing audit procedures - Power BI
Applicable Courses: Auditing, Intermediate Accounting, Intro Data Analytics
Case: 20-1 Rose Marketing
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Type: Distinguishing liabilities from equity
Subject: This case gives students an opportunity to apply guidance in ASC 480 on distinguishing liabilities from equity.
Applicable courses: Intermediate Financial Accounting, Intermediate Accounting, Graduate Financial Accounting and Auditing (specific to audit assertions and financial statement treatment)
Case: 20-3 Hi-Tech Commerce Co.
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Type: Principal vs. Agent
Subject: Evaluation of the criteria under ASC 606 to determine whether an entity is acting as a principal or an agent.
Applicable courses: Graduate Financial Accounting; Graduate
Case: 20-4 Customized Software
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Type: Revenue
Subject: Application of the guidance in ASC 606-10 on identifying performance obligations.
Applicable courses: Intermediate Financial Accounting, Intermediate Accounting, Graduate Financial Accounting and Auditing (specific to audit assertions and financial statement treatment)
Case: 20-5 Moving On
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Type: Leases
Subject: Determine whether a leased asset is abandoned and to identify the related accounting requirements, as well as the resulting impact on impairment accounting.
Applicable Courses: Intermediate Financial Accounting; Intermediate Accounting, Graduate
Case: 20-7 Real Value Corporation
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Type: Investments and Fair Value Measurement
Subject: This case gives students an opportunity to become familiar with aspects of ASC 321 and the challenges preparers face when they use the measurement alternative in ASC 321-10-35-2.
Applicable courses: Intermediate Financial Accounting; Intermediate; Graduate Financial Accounting; Graduate
Case: 20-8 To Sell or Not to Sell
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Type: Income Taxes
Subject: Measurement of deferred tax assets (DTAs) and deferred tax liabilities (DTLs).
Applicable courses: Intermediate Financial Accounting; Intermediate; Graduate Finanical Accounting; Graduate
Case: 20-9 Skeptical Lens
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Type: Professional Judgement
Subject: Examples to understand professional skepticism.
Applicable courses: Auditing
Case: 19-1 The Terminator
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Type: Leases
Subject: Highlights the accounting for renewal options in accordance with ASC 842 to determine the lease term.
Applicable courses: Intermediate Financial Accounting and Graduate Financial Accounting
Case: 19-2 Quit While You're Ahead
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Type: Discontinued Operations
Subject: Apply the guidance in ASC 205-20 on when to report a disposal of a component of an entity or a group of components of an entity in discontinued operations.
Applicable courses: Intermediate Financial Accounting, and Graduate Financial Accounting
Case: 19-8 Excel Data
Download: Case | Solution | Handout 1 | Handout 2 | Handout 3 | Handout 4 | Handout 5 | Handout 6 | Handout 7 | Handout 8
Type: Excel
Subject: Determine characteristics of clean Excel data files that are often used in performing audit procedures. Also provides an opportunity to practice cleaning Excel data files using basic Excel functions to prepare data for use in audit procedures.
Applicable courses: Auditing and Graudate Auditing
Case: 19-9 Dandelion Company
Download: Case | Solution | Handout 1 | Handout 2
Type: Data Analytics
Subject: Use of data analytics in performing risk assessment and to learn how data analytics may be used to analyze patterns that might not be evident just from observing the data in a tabular format. It also provides students with an opportunity to evaluate how the data analytics may affect or change the risk assessment.
Applicable courses: Accounting Information Systems, Intermediate Financial Accounting, Graduate Financial Accounting, and Accounting Data Analytics
Case: 18-3 Nailed It
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Type: Revenue Recognition
Subject: Evaluating the criteria for recognizing revenue over time versus a point in time in accordance with ASC 606.
Applicable courses: Intermediate Accounting/Graduate Financial Accounting
Case: 18-5 Ride Along
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Type: Goodwill
Subject: Evaluating the criteria regarding accounting for goodwill and assessing goodwill for impairment.
Applicable courses: Intermediate Accounting/Graduate Financial Accounting
Case: 18-6 Logical Logistics, Inc.
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Type: Leases
Subject: Identifying a lease under ASC 842.
Applicable courses: Intermediate Accounting/Graduate Financial Accounting
Case: 18-7 Fashion Inc
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Type: Share-Based Compensation
Subject: Evaluating share-based compensation with market and performance conditions.
Applicable courses: Intermediate Accounting/Graduate Financial Accounting
Case: 18-8 Fuel Pro
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Type: Sampling
Subject: Applying the practical aspects of sampling and evaluating the sampling options available.
Applicable courses: Auditing
Case: 18-10 Antelope Run Inc.
Download: Case | Solution | Handout 1 | Handout 2
Type: Internal Controls
Subject: Controls with a review element
Applicable courses: Auditing/Accounting Information Systems
Case: 13-8 Accounting for Loss Contingency for a Verdict Overturned on Appeal
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Type: Contingencies
Subject: Apply the key concepts of accounting for contingencies pursuant to the guidance in ASC 450, Contingencies.
Applicable courses: Intermediate or Auditing
Case: 13-9 ZOU's Fencing Controls
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Type: Internal Controls
Subject: Evaluate procedures to assess the design, implementation, and operating effectiveness of internal controls.
Applicable courses: Auditing
Contact usdeloittefoundation@deloitte.com for the excel files to case 19-8.
