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Accounting Scenario
XBCOM/230 Version 1
1

University of Phoenix Material Accounting Scenario
Situation

Riordan Manufacturing wants to acquire the JJJ Company and has formed a confidential ad hoc committee to perform several functions, including due diligence of JJJ Company. The ad hoc committee was appointed by the chairman of the board (COB) of Riordan. Members of the committee are familiar with one another and have worked together in the past in various capacities. Accounting Team Representatives John and Beth are both from the accounting team and have reviewed the files for JJJ Company and are preparing to report their findings to the chief executive officer (CEO) and COB. They are not sure JJJ is financially stable enough to move forward with the acquisition. John graduated with a BA in Accounting from University of Phoenix in 1990. He joined Riordan in 2004 as a staff accountant and was promoted to accounting manager in 2007. He is a democratic leader whose focus is on sales profitability. Beth graduated with a BA in Accounting from University of Phoenix in 2008; she came to Riordan in 2007 as an accounting assistant after graduation. She was recently promoted to staff accountant by John, the accounting manager. William is the CEO of Riordan and he wants to do the acquisition—but only if it means greater profits for the company and bigger dividends for the stockholders. Although he understands business, he relies on John’s advice for the details on accounting oversight. William, finance major, graduated with an MBA from University of Phoenix in 2000. He has been president of Riordan since 2006, when he was hired by the COB. He is an authoritarian leader who is bottom-line oriented. Mark is the sales manager, and he is excited about JJJ’s sales numbers and their potential for Riordan. He is not familiar with accounting, but he likes

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