Introduction To Compilation Services As A Reinforcement Of Basic Accounting Concepts For Intermediate Accounting Students

Abstract

According to a recent survey of accounting firms in 2008, Compilation and write-up services make up 23% of accounting firm billing for small firms with less than $1 Million in fee billings and 14% overall for all types of firms (Anonymous 2008), yet accounting students are rarely exposed to these services in their accounting academic experience. This comprehensive case gives students an opportunity to develop proficiencies in providing accounting compilation and write-up services to small business clients. Specifically, the goals of the case are to help students review the steps of the accounting cycle, understand how each of the four basic financial statements are inter-related, improve their ability to prepare financial statements and related disclosures, and enhance their spreadsheet skills. This case has been classroom tested and is appropriate for an intermediate accounting; honors introduction financial accounting course; or an accounting information systems course.