Accounting Outages at Plug Power? (B)

Name: Accounting Outages at Plug Power? (B) (English version)
SKU: 124018

Heese, Jonas; Pacelli, Joseph; Barnett, James

Product #:124018

Supplier:Harvard Business School

Discipline:Accounting

Setting:Europe;United States

Details:Supplemental Case (PDF) • 9 pages • 2023-08-31 (Rev: 2023-11-30)

Subjects:

Accounting Business ethics Financial statements Management Finance and investing Business law and ethics Leadership and managing people Finance and investing Accounting

Geography:

Europe United States North America

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The case is set in spring 2021, immediately after Plug Power made financial restatements dating back to 2018. The case describes the restatements, which revealed that Plug was reclassifying expense items to boost gross profits.

Learning Objectives

Evaluate the potential risks associated with ESG investing. Introduce students to the concept of lease accounting, with a focus on the new lease accounting standards (ASC 842) and its implications for sale-and-lease buyback (SLB). Introduce students to the concept of stock warrants and the accounting for warrants under ASC 815-40. Evaluate the implications of non-GAAP metrics for financial reporting as it pertains to objectively communicating performance to external stakeholders. Discuss the implications of financial restatements and how they impact investors.