Pane in the Glass: A Review of the Accounting Cycle

ABSTRACT This case employs a realistic scenario in which students apply for internships with Pane in the Glass, Inc.'s financial reporting group. As part of the interview process, students are required to demonstrate their financial accounting knowledge by completing a simulated accounting and financial reporting cycle using Excel. Specifically, they: (1) analyze transactions and prepare the appropriate journal entries, (2) book adjusting and closing journal entries, and (3) prepare a set of financial statements. This case is intended to provide students with a comprehensive review and integration of intermediate financial accounting concepts. The modular nature of the case allows the instructor to assign any number of the case requirements, depending on the desired level of involvement and the amount of time available. In addition, the instructor can easily add, remove, or modify individual transactions, maximizing flexibility and allowing the instructor to tailor the case to specific topics of interest ...