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Indus Cricket Academy Limited: Construct...

Agarwalla, Sobhesh...

Case

Indus Cricket Academy Limited: Constructing the Financial Statements

Agarwalla, Sobhesh Kumar

IIMA-FA0556 | Published September 21, 2020 | 11 pages Case

Collection: Indian Institute of Management, Ahmedabad

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Learning Objectives

The case covers various accounting transactions, including depreciation, provisions, investments, loans with interest calculations, dividends and income tax. The case can be used to teach accounting procedures such as journalising the transactions, posting into the ledgers, closing and adjusting entries, and preparing the three financial statements. It can also serve as a closing case in the module on the preparation of financial accounting statements, wherein the participants can directly plug in the effects of various transactions on the financial statements. We have tested the case in an examination setting (450 participants, 3-hour duration) for a Master of Business Administration course.

The case covers the fundamental accounting concepts like the accrual concept, matching concepts and duality concepts and also covers accounting for contra assets. The case can be used to cover the following learning objectives: Accounting mechanisms: a. Original transactions: Analysing the transactions, journalising the transactions and posting the journal entries into ledgers. b. Adjusting entries: Identifying, journalising and posting into ledgers. c. Closing entries: Journalising and posting into ledgers. Preparing financial statements.