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Case study definition

Case study, a term which some of you may know from the "Case Study of Vanitas" anime and manga, is a thorough examination of a particular subject, such as a person, group, location, occasion, establishment, phenomena, etc. They are most frequently utilized in research of business, medicine, education and social behaviour. There are a different types of case studies that researchers might use:

• Collective case studies

• Descriptive case studies

• Explanatory case studies

• Exploratory case studies

• Instrumental case studies

• Intrinsic case studies

Case studies are usually much more sophisticated and professional than regular essays and courseworks, as they require a lot of verified data, are research-oriented and not necessarily designed to be read by the general public.

How to write a case study?

It very much depends on the topic of your case study, as a medical case study and a coffee business case study have completely different sources, outlines, target demographics, etc. But just for this example, let's outline a coffee roaster case study. Firstly, it's likely going to be a problem-solving case study, like most in the business and economics field are. Here are some tips for these types of case studies:

• Your case scenario should be precisely defined in terms of your unique assessment criteria.

• Determine the primary issues by analyzing the scenario. Think about how they connect to the main ideas and theories in your piece.

• Find and investigate any theories or methods that might be relevant to your case.

• Keep your audience in mind. Exactly who are your stakeholder(s)? If writing a case study on coffee roasters, it's probably gonna be suppliers, landlords, investors, customers, etc.

• Indicate the best solution(s) and how they should be implemented. Make sure your suggestions are grounded in pertinent theories and useful resources, as well as being realistic, practical, and attainable.

• Carefully proofread your case study. Keep in mind these four principles when editing: clarity, honesty, reality and relevance.

Are there any online services that could write a case study for me?

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Accounting →

• 17 Jan 2024
• Research & Ideas

Are Companies Getting Away with 'Cheap Talk' on Climate Goals?

Many companies set emissions targets with great fanfare—and never meet them, says research by Shirley Lu and colleagues. But what if investors held businesses accountable for achieving their climate plans?

• 23 Jun 2023

This Company Lets Employees Take Charge—Even with Life and Death Decisions

Dutch home health care organization Buurtzorg avoids middle management positions and instead empowers its nurses to care for patients as they see fit. Tatiana Sandino and Ethan Bernstein explore how removing organizational layers and allowing employees to make decisions can boost performance.

• 07 Feb 2023

Supervisor of Sandwiches? More Companies Inflate Titles to Avoid Extra Pay

What does an assistant manager of bingo actually manage? Increasingly, companies are falsely classifying hourly workers as managers to avoid paying an estimated $4 billion a year in overtime, says research by Lauren Cohen.

• 13 Jan 2023

Are Companies Actually Greener—or Are They All Talk?

More companies than ever use ESG reports to showcase their social consciousness. But are these disclosures meaningful or just marketing? Research by Ethan Rouen delves into the murky world of voluntary reporting and offers advice for investors.

• 24 Feb 2022

Want to Prevent the Next Hospital Bed Crisis? Enlist the SEC

After two years of COVID-19, many hospitals still haven't figured out how to manage the overwhelming wave of patients that flood ICUs during each surge. Regina Herzlinger and Richard Boxer offer a novel solution. Open for comment; 0 Comments.

• 28 Feb 2021
• Working Paper Summaries

Connecting Expected Stock Returns to Accounting Valuation Multiples: A Primer

This paper introduces a framework to investors and researchers interested in accounting-based valuation. The framework connects expected stock returns to accounting valuation anchors. It can be generalized to evaluate an enterprise's expected returns, and can be adapted to correct for the use of stale accounting data.

Measuring Employment Impact: Applications and Cases

Employment impact-weighted accounting statements quantify the positive and negative effects of firm practices for employees and the broader labor community. This analysis of companies in different sectors shows how these statements are beneficial both at an aggregate and more specific level.

• 02 Nov 2020

Accounting for Organizational Employment Impact

Impact-weighted accounting methodology standardizes previously disparate measures of impact, in this case the impact of employment. This paper’s methodology and analysis of Intel, Apple, Costco, and Merck shows the feasibility of measuring firm employment impact for insight into firm practices and performance. Closed for comment; 0 Comments.

• 20 Sep 2020

Updating the Balanced Scorecard for Triple Bottom Line Strategies

Society increasingly expects businesses to help solve problems of environmental degradation, inequality, and poverty. This paper explains how the Balanced Scorecard and Strategy Map should be modified to reflect businesses’ expanded role for society.

• 24 Aug 2020

Performance Hacking: The Contagious Business Practice that Corrodes Corporate Culture, Undermines Core Values, and Damages Great Companies

Performance hacking (or p-hacking for short) means overzealous advocacy of positive interpretations to the point of detachment from actuals. In business as in research there are strong incentives to p-hack. If p-hacking behaviours are not checked, a crash becomes inevitable.

• 27 Feb 2020
• Sharpening Your Skills

How Following Best Business Practices Can Improve Health Care

Why do Harvard Business School scholars spend so much time and money analyzing health care delivery? Open for comment; 0 Comments.

• 18 Feb 2020

A Preliminary Framework for Product Impact-Weighted Accounts

Although there is growing interest in environmental, social, and governance measurement, the impact of company operations is emphasized over product use. A framework like this one that captures a product’s reach, accessibility, quality, optionality, environmental use emissions, and end of life recyclability allows for a systematic methodology that can be applied to companies across many industries.

• 16 Oct 2019

Core Earnings? New Data and Evidence

Using a novel dataset of earnings-related disclosures embedded in the 10-Ks, this paper shows how detailed financial statement analysis can produce a measure of core earnings that is more persistent than traditional earnings measures and forecasts future performance. Analysts and market participants are slow to appreciate the importance of transitory earnings.

• 28 May 2019

Investor Lawsuits Against Auditors Are Falling, and That's Bad News for Capital Markets

It's becoming more difficult for investors to sue corporate auditors. The result? A weakening of trust in US capital markets, says Suraj Srinivasan. Open for comment; 0 Comments.

• 22 Jan 2019

Corporate Sustainability: A Strategy?

Between 2012 and 2017, companies within most industries adopted an increasingly similar set of sustainability practices. This study examines the interplay between common and strategic practices. This dynamic distinction helps for understanding whether and how sustainability practices can help companies establish a competitive advantage over time.

• 03 Jan 2019

Financing the Response to Climate Change: The Pricing and Ownership of US Green Bonds

Green bonds are used for environmentally friendly purposes like renewable energy. Complementing previous research, this paper explores the US corporate and municipal green bond and shows that a subset of investors is willing to give up some return to hold green bonds.

• 03 Dec 2018

How Companies Can Increase Market Rewards for Sustainability Efforts

There is a connection between public sentiment about a company and how the market rewards its corporate social performance, according to George Serafeim. Is your company undervalued? Open for comment; 0 Comments.

• 19 Nov 2018

Lazy Prices

The most comprehensive information windows that firms provide to the markets—in the form of their mandated annual and quarterly filings—have changed dramatically over time, becoming significantly longer and more complex. When firms break from their routine phrasing and content, this action contains rich information for future firm stock returns and outcomes.

• 24 Sep 2018

How Cost Accounting is Improving Healthcare in Rural Haiti

The cost of healthcare in rural Haiti was found to vary widely, even inside the same health organization. A pioneering cost accounting system co-developed by Robert Kaplan was called in to determine the cause. Open for comment; 0 Comments.

• 14 Dec 2017

The Real Exchange Rate, Innovation and Productivity

Addressing debates on the effects of real exchange rate (RER) movements on the economy, this study examines manufacturing firm-level effects of medium-term fluctuations, in particular firm-level productivity across a wide range of countries. RER changes have different impacts depending on the export and import orientation of regions and the prevalence of credit constraints. Effects are non-linear and asymmetric, suggesting that the link between RER changes and macroeconomic performance might be much more nuanced than usually thought.

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The IMA Educational Case Journal (IECJ ® ) is a quarterly online journal that publishes teaching cases and notes.

IECJ publishes cases covering a wide range of topics reflecting the diverse skill set required of management accountants.

Its published cases take learning beyond mere “number-crunching” exercises to require interpretation of data in a decision-making context – making them ideal learning tools for graduate and undergraduate students.

Editorial Staff

The IMA Educational Case Journal (IECJ ® ) editor is Leif Sjöblom and the managing editor is Susie Duong. The associated editors are Laurie Burney, Margaret Shackell, and Thomas Calderon.

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Meet the Editors – IECJ Office Hours 

Do you have a case idea that you want to discuss and get feedback on? Or perhaps an early case draft? Or general questions about IECJ and the requirements and review process?

Members of the IECJ Editorial Board are happy to assist you during the journal’s “office hours” to help authors improve their papers and make the case writing process a productive and rewarding experience.  These open sessions are available to anyone who would like feedback on a case idea, suggestions on writing a case and teaching notes, or clarification on how to address review comments. If you are considering submitting a paper to the IECJ and would like our guidance, please  click here to access our office hours calendar which offers appointments in multiple time zones.  If the time slots are not convenient, please feel free to reach out for individual appointments with one of our associate or senior editors at [email protected]

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› Call for Data Sets : We are looking for “raw” data for use in developing teaching cases. This data can be structured or unstructured, newer or older data, and, if desired, cleaned and disguised so there are no privacy or confidentiality issues. Recipients of IMA Educational Case Journal receive the right to free use of the cases for educational purposes. Supplemental teaching notes are available without charge to IMA Academic members only in myIMA Network in the Teaching Notes Library (you will be prompted to login).

If you are a member of IMA and unable to access IECJ Teaching Notes or have a general question, please email [email protected] .

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IECJ is listed in Cabell’s Directory of Publishing Opportunities for Accounting and welcomes submissions from around the world. Case studies jointly authored by academics and practitioners are encouraged. Real-world cases are strongly preferred, but fictional cases with some basis in practice will be considered.

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Accounting Case Studies

Accounting and Finance

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A collection of business cases providing unlimited access to more than 5,500 authoritative cases from over 120 countries. SAGE curates interdisciplinary cases on in-demand subjects such as entrepreneurship, accounting, healthcare management, leadership, social enterprise, and more.

One of the most important scholarly business databases. Contains the full-text of over 1,800 journals within management and all related areas, plus over 2,000 magazine and trade publications. It includes full-text access to Harvard Business Review. Also includes selected company and marketing reports from Marketline and in-depth country profiles.

Cases studies of marketing excellence from all over the world, covering every marketing discipline. Selected Euromonitor company profiles in the following industries: Alcoholic drinks, Clothing and accessories, Financial services, Food, Leisure and entertainment, Healthcare, Retail, Soft drinks, Technology and electronics, Tobacco, Toiletries and cosmetics, Transport and tourism. Vast amount of data on global ad trends, advertising expenditure and media consumption.

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Free business case studies to bring real-life examples into the classroom

Searching for materials to bring into the classroom can be time consuming. At CPA Canada, we've made it a little easier by providing free case studies you can use in your next business or management accounting course. 

Developed by academics and industry leaders, our case studies provide high-quality content in the areas of strategy management, financial management and reporting, and performance management and measurement. 

Use them to complement your lessons and keep students engaged. Give your students valuable insights from real-life companies that they can apply in the work force.

Students will learn how to address day-to-day operations and challenges and improve a company’s financial performance.

Use them in your classroom today!

Available topics

Strategy management, strategy mapping: saskatchewan green roofing (sgr) .

Use this case study to illustrate how focusing on community support, the environment, and operational excellence led to a successful strategy mapping implementation.

Performance Management and Measurement

Business model design: nespresso.

Inspire your students by showing them how a shift in strategy is what Nespresso needed to achieve success and redefine the coffee industry.

Process-based management: ACME

Follow the journey of a utility company as it implements a process-based management plan.

Scenario planning: Lessons from the field

Don't wait for disaster to strike. Use these examples to walk your students through a six-step process to implement a strong decision-making model.

Financial Management and Financial Reporting 

Future value drivers: lessons from the field.

Explore the power of invisible assets and how various companies turned them into profit.

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Case studies.

A set of in-class activities is available for some of the modules in this course to support face-to-face and hybrid classes. These are not already built into the assignment tool of your learning management system (Canvas, Blackboard, etc.), but they can be downloaded for use or previewed below:

• Module 1: Case Study: Harley-Davidson, Inc.
• Module 2: Case Study: Harley Davidson
• Module 3: Case Study: Burton Snowboards
• Module 4: Case Study: Janus Motorcycles
• Module 5: Case Study: MOD Pizza
• Module 6: Case Study: Auto Manufacturing
• Module 7: Case Study: Zero-Based Budgeting
• Module 8: Case Study: Ski Santa Fe
• Module 9: Case Study: Highland Park
• Module 10: Case Study: Wells Fargo
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Accounting and Finance: Case Studies and Reports

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Introduction to Case Studies

Case Studies are widely used in Accountancy and Finance education. They offer students the opportunity to develop their analytic and writing skills. They are most common used to examine the communication skills and team working ability of the student. 

Finding Case Studies

Textbooks .

Books containing case studies can be found by using our catalogue. Here are a some examples for Accounting and Finance :

Some databases allow users to search for case studies under a certain topic. Others allow users to filter or offer to limit their search results to case studies. Two examples are :  

• Taylor & Francis Social Science & Humanities Library This link opens in a new window

Writing Case Studies

Online guides and help when writing case studies

Emerald publishing has a useful how to guide for case studies access it here  

Cengage  has a good introduction to the topic covering definition, Analysis, and writing a Case Study. 

Five Misunderstandings about case study research by Bent Flyvbjerg

The Real Life Guide to Accounting Research Edited by Chrotopher Humphrey 

The Case Centre for Educators 

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Case Study: Integrated Profit and Loss Accounting at Natura &Co

Presentation by Alessandra Segatelli, Controllership Director - LatAm, Natura &Co

• This case study article highlights Natura &Co’s Integrated Profit and Loss (IP&L) approach and methodology, as well as the role of the finance team in its development.
• Natura is a leader in impact accounting, using its IP&L and underlying methodology to quantify the impacts and net value of its corporate performance on environmental, social, and human capital.
• The IP&L captures the impacts of Natura’s business activities across its full value chain, ranging from Natura’s supplier chain and extractive communities in the Amazon region, through direct Natura operations, its beauty consultants, to product use and product end of life.
• Natura implemented the IP&L model as a strategic management and decision-making tool, as the results can be compared directly with the financial results, which helps in risk management and reporting to investors, and contribute to the operationalization of stakeholder capitalism.
• The controller and finance team are involved in the development of the IP&L methodology, including data collection, measurement and valuation. They support the measurement of key impacts linked to business activities and quantify these to enable decisions that achieve a balance between positive impacts and profitability.
• In terms of policy, to help develop the connectivity with financial statements, financial reporting standards could usefully develop common methodologies and accounting treatments for some ESG areas including carbon credits. International standards for measuring and valuing impacts would also help drive a more common approach to impact accounting that would lead to integrated reports being more quantitative.

Natura &Co Key Facts

• Founded in 1969, Natura is a Brazilian global cosmetics company headquartered in São Paulo. Since 2020, Natura is part of Natura &Co group, comprised of four purpose-led beauty companies: Avon, Natura, The Body Shop and Aesop.
• A pioneer within the beauty sector among B Corps, Natura obtained its certification in 2014, becoming the first publicly traded company in the world to earn it. In 2021, Natura &Co became the world’s largest certified B-Corp.
• Natura &Co’s consolidated net revenue is R$ 40.16 billion and net income R$1 billion, and has 35,000+ employees,7.7 million consultants and representatives, and 3,700 stores and franchises.
• Natura &Co issued a US$ 1 billion sustainability-linked bond related to selected sustainability targets, which is the largest single issuance of this type by a Brazilian company.
• Sustainability is an integral part of Natura’s purpose, strategy and business model across natural, social and human capital dimensions.
• Natura was highly commended at the 2022  Finance for the Future Awards  in the category for embedding an integrated approach and recognizing the finance team’s critical role in delivering this integration.

 Natura’s purpose:  To nurture beauty and relationships for a better way of living and doing business

Natura Integrated Profit & Loss Accounting

Natura &Co believes that the value and longevity of a company are directly linked with its capacity to contribute to the evolution of society and its sustainable development. To collaborate with the wide-reaching change our world needs, it is fundamental for us to measure our legacy or, in other words, the impact we generate through our operation.

Natura’s leadership in impact accounting has culminated in its IP&L and underlying methodology to account in monetary values for the impacts of its corporate performance on environmental, social and human capital.

The IP&L methodology connects business activities to impacts and allows the attribution of value to impacts be they positive or negative. This provides quantitative information that permits better strategic decision-making aimed at leveraging positive impacts and mitigating negative ones, for example, in improving supply chain processes and vendor selection, and operations. It also allows decisions to be made to balance profitability at the same time as achieving sustainability goals. 

Natura has a cross-functional committee responsible for the development and strategy of the IP&L methodology, which includes the controllership and technical accounting team, as well as members of the financial planning and analysis (FP&A) team and Sustainability Center of Expertise.

The development and publication of the IP&L started in 2010 with Natura’s efforts to understand its supplier network and key raw materials such as palm oil. Between 2014-16, Natura developed an Environmental Profit & Loss and expanded it to social impacts in 2017-19, particularly to measure and enhance the contribution of its approximately 2 million beauty consultants in Brazil, Argentina, Chile, Colombia, Mexico, Peru and Malaysia to their communities. A full IP&L model was issued in 2021 and is now included in internal decision-making and public disclosure with external assurance. The IP&L has become  Natura’s Integrated Report .

The IP&L methodology relies mostly on the Natural Capital Protocol and the Human and Social Capital Protocol (Capitals Coalition, 2016, 2019). The methodology involves

• Collecting data
• Identifying and measuring impacts
• Taking decisions to leverage positive impacts and mitigate negative impacts.

IP&L  Methodology

The Natura &Co IP&L methodology is available at  Natura Integrated Profit & Loss Accounting 2021, Technical Executive Summary and Insights . A summary is provided here.

•  Natura’s sustainability strategy and IP&L address three material sustainability topics covering natural, human and social capital: 
• Living Amazon Forest : Movement to transform the Pan-Amazon region into a global example of a new society that integrates people, the forest and cities in a sustainable manner, creating more shared value;
• More Beauty, Less Waste : Offers the most, using the least, and reducing excesses. Natura has used recycled materials and materials of renewable origin, as well as refills, for over 30 years and strives to do more;
• Every Person Matters : Each person in Natura’s relationship network matters a great deal to the company. With each one, the focus is on making a social pact that decreases inequality and intolerance and promotes social inclusion with effective transformational actions. Each person is a world. And the whole world matters.
•  Figure 1 captures the business impacts from activities across Natura’s full value chain, from its suppliers and extractive communities in the Amazon region to its direct operations (manufacturing and offices), the Natura sales consultants, the products used by customers, and the product end-of-life.
•  Measuring impacts involves identifying key activities in the value chain, relevant impact drivers across human, social and natural capital, and assessment paths to understand direct and indirect economic effects. This means that impacts can be monetized, allowing, for example, the value of nature or wellbeing to be expressed in monetary terms. 
• Methodologies and calculations to convert resources into economic value are based on two main possible pathways: Direct effects on health and quality of life or economic effects that are calculated through utilitarian models, which reflect a change in the quality of life of an individual or collective. Some examples of valuation factors considered for measuring IP&L outcomes are: 
• Social cost of carbon, which reflects the current and future economic damage per ton of carbon ($97/tCO 2  based on PwC’s Total Impact Measurement and Management Framework); 
• The value of ecosystem services and wellbeing of Amazon supplier communities for the sustainable use of the forest, and other sources for plastic ($760/ha of forest based on substitution or mitigation costs); and
•  Factors that translate income or taxes into changes in well-being and quality of life, such as HUI (Health Utility of Income) which determines the utility of money in different socio-economic contexts, or HUT (Health Utility of Taxes), which values ​​quality change of life and well-being of a population through the collection of taxes.

• Ultimately, the IP&L methodology provides an overview of Natura’s net value delivered across human, social and natural capital. In 2021, the IP&L showed a net positive societal value created by Natura of approximately R$18 billion (around US$3.5 billion), mostly driven by social and human capital. For each $1 in revenue, Natura generated $1.5 in positive social and natural impact. The impact of Natura's natural capital is still negative (as it is for most companies), mainly due to the final stages of disposal of products by the consumer and subsequent recycling. It is important to see this indicator reflected in the IP&L precisely to direct and prioritize actions.
• To address these issues, Natura follows the targets and 40 sustainability key performance indicators (KPIs) set out in its Commitments in its 2030 Vision - Commitment to Life - which covers topics such as net zero, regenerative initiatives, circularity and sustainable materials. Natura has been reducing its natural capital impact for many years. Through its sustainability strategy, it will continue to reduce its negative impact and increase the positive. The KPIs enable performance management and track the company’s sustainability strategy in conjunction with strategic planning.

The Role of the Finance Team

Natura’s Finance Team plays an important role in the measurement of impacts, supporting necessary data collection, monitoring the progress of socio-environmental issues and combating climate change through key indicators, supporting the establishment of tangible and relevant goals, and encouraging the creation of action plans to leverage all the company's results, whether economic, social, human or environmental. 

Now, the integrated assessment that IP&L generates guarantees the implementation of ESG policies embedded in the day-to-day strategy of the group's companies, and ensures decisions always combine both the search for profitability and return to all stakeholders.

In terms of the external reporting and assurance process,

• Currently, IP&L is disclosed in the Annual Report, separate from Natura’s financial statements. However, the IP&L was structured in the same format as the traditional financial statement, making it possible to identify which activity generates which level of impact and to link the financial statement line to a range of non-financial metrics, such as carbon emissions and offsetting, and supply chain indicators.
• All sustainability-related KPIs are externally assured since 2001 and by PwC in 2022, and some are outputs then used in the IP&L measurement.

Through its controllership function, Natura also engages and influences external groups that are establishing standards, frameworks, and guidance including the IFRS Foundation and ISSB, the Capitals Coalition, Impact Management Project, Value Balancing Alliance, and World Business Council for Sustainable Development. To help develop the connectivity with financial statements, financial reporting standards could usefully develop common methodologies and accounting treatments for some ESG areas including carbon credits. International standards for measuring and valuing impacts would also help drive a more common approach to impact accounting that would lead to integrated reports being more quantitative.

This was a presentation to the IFAC Professional Accountants in Business Advisory Group during their September 2022 meeting. Read more insights from IFAC’s Professional Accountants in Business Advisory Group’s report:  Professional Accountants as Finance and Business Leaders.

• 2024 Competition

The QUT Accounting Challenge is a case study competition for high school students.

For the challenge students take on the role of an Accountant and work in small groups of three to four to tackle a client’s real-world business problem. See our case study example below.

Groups must prepare an advice document and presentation for their client (this task can be completed in class or given as additional work). These proposals should then be submitted to QUT’s School of Accountancy for judging.

Teams with the best proposals are then selected to present their approach at the QUT Accounting Challenge finals to a panel of judges including representatives from the QUT School of Accountancy, our industry partner, and accounting professional bodies (CPA and CAANZ). The finals are held in Brisbane at QUT’s Gardens Point campus on Friday 17th May 2024.

How to enter

On completion of student proposals, submissions are to be emailed to [email protected] with the subject heading ‘QUT Accounting Challenge’.

Please include signed consent forms in your submission available here .

• Registrations open (and case study released) on Monday 15th April 2024
• Case study submissions close Wednesday 15th May 2024
• Presentations and judging held at Gardens Point Campus on Friday 17th May 2024

Access the 2024 case study here.

Meet our partner, Andrew Van De Beek , illumin8.

Accounting challenge case study video below.

• 1st place $100 gift voucher (for each team member) sponsored by CA ANZ
• 2nd place $50 gift voucher (for each team member) sponsored by CA ANZ
• Winning school receives a boardroom lunch visit sponsored by EY Brisbane

Register your interest for 2025

If your school is interested in participating in the 2025 competition, or if you are a business that would like to partner with us in a case study, please register your interest here .

See our resources for students and teachers.