Deepwater Horizon: A Case of Contingent Liabilities

• In Event: Teaching, Learning, and Curriculum II

Abstract

ABSTRACT
This case is designed to illustrate accounting issues related to the recent BP oil spill in the Gulf of Mexico. The spill resulted in the worst environmental disaster in US history. The topics covered are contingent and environmental liabilities and related disclosures. A unique aspect of the case is that it has been designed as a problem-based learning (PBL) exercise to help students think critically, to research online FASB codification and to communicate technical accounting information in a professional manner.

Authors

• Avinash Arya, William Paterson University of New Jersey

• Sia Nassiripour, William Paterson University