Organic Foods: The Financial Reporting of Discontinued Operations (Cases‪)‬

CASE DESCRIPTION The primary subject manner of this case concerns the proper financial reporting of gains or losses on discontinued operations per Generally Accepted Accounting Principles (GAAP). This case has a difficulty level of three, appropriate for junior level courses. The case is designed to be taught in a one class hour and is expected to require three to four hours of outside preparation by students. The case would be appropriate for an undergraduate intermediate accounting course or graduate courses in either financial accounting theory or applied financial accounting research. Students will need access to Statement of Financial Accounting Standard No. 144, "Accounting for the Impairment or Disposal of Long-Lived Asset" and APB #30. These standards can be downloaded from the Financial Accounting Standards Board (FASB) web site at www.fasb.org or can be found on the Financial Accounting Research System disk that may be packaged with Intermediate Accounting or other advanced financial accounting textbooks.