The case relates to the accounting quality analysis conducted by a leading research firm, Centre for Financial Research and Analysis (CFRA) for companies in the solar industry with a focus on First Solar Inc in 2009 CFRA was concerned that First Solar, like much of the solar energy faced with deteriorating business prospects and are subject to risks arising from revenue recognition, high inventory levels, the lack of customer and geographic diversification, aggressive policy guarantees, excessive production capacity growth, and the risks of the supply chain. The case puts students in the shoes of CFRA analysts who need to assess the quality of accounting First Solar and business prospects after the company released its second quarter financial numbers in 2009. The case provides students with background information on solar power, First Solar, the data from the CFRA research and First Solar's quarterly reports and earnings conference call to analyze and draw conclusions on the accounting First Solar and strength as a company. Students have to decide whether it should be noted CFRA First Solar, as anxiety and add it to the CFRA in the "big problems" list.
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by Suraj Srinivasan, Ian McKown Cornell Source: Harvard Business School 29 pages. Publication Date: January 24, 2013. Prod. #: 113044-PDF-ENG
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