Case

Educator Copy

FINANCIAL REPORTING AT SAMSUNG - A CASE OF EXPLODING PHONES

Atifa A. Dar, Waqar Ali

INDUSTRY :-

AREA :FINANCE

ORGANIZATION :-

LENGTH :16

LUMS No :02-645-2018-1

PUBLICATION YEAR : 2018

DESCRIPTION

ABSTRACT:

This case is based on published financial statements of Samsung Electronics Company Limited and a collection of news articles published after the discontinuation and expensive recall of its Galaxy Note 7 after flaws led some of the phones to overheat and burst into flames. The case follows the woes of Samsung from the S7 debacle to the arrest of its Vice Chairman and requires students to anticipate the effects of these events on the published financial statements with an emphasis on financial reporting requirements of International Financial Reporting Standards (IFRS).