Nuria Villaescusa
professor
Accounting and Control
IESE Business School Universidad de Navarra
Spain
Biography
Núria Villaescusa is lecturer in the Accounting and Control Department. She started her professional career at KPMG Audit. Later, she has worked as a financial manager and as a consultant. Her consulting work focus on the implementation of management control systems, including the specific areas of financial accounting, cost accounting, and business risk management in both large and small and medium sized companies. Currently, her areas of research interest are earnings management, its consequences and how to detect them and forensic accounting.
Research Interest
Accounting and Control
Publications
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In a new business, the entrepreneur must draw up a profit and loss account, a balance sheet and a one-year cash flow statement to make predictions about what will be the result and the cash position. The entrepreneur must account for the simple operations that he plans to carry out during the year in the balance sheet accounts. In relation to this, the case illustrates how Juan GarcÃa, an entrepreneur, starts a business motivated by the work experiences of his former classmates.
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Two entrepreneurs create a stationery material company for companies and special events. As the company grows, they plan to make new investments. The case raises the need to prepare pro forma financial statements (forecast) for the next two years and thus assess the financing needs. The conclusion is that the company will earn money but that it could experience problems of liquidity, reason why solutions must be posed to undertake the growth. This case also allows, through a problem raised in the preparation sheet (optional), to analyze the appropriateness of an investment.
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The case explains how a cooperative dedicated to the production and sale of oils and wines decides to create a new company dedicated to the production of organic products. After explaining the main events during the period 2002-2003, the accountant must record the transactions in the general ledger and prepare the financial statements (balance sheet, income statement and statement of cash flows).
