The case focuses on the Royal Collection, the manufacturer Royal memorabilia and collectibles. The company subcontracted the production of its products and markets products for the cable television and other means of solving the general public. Students create a basic set of financial statements based on production, sales, costs, and other data. A number of questions arise accounting policies as in the case unfolds, including revenue recognition, providing returns, the cost flow assumptions and other issues. Students develop a simple balance sheet, income statement and reconciliation. Class discussion may also apply to a relatively high volume of transactions with related parties, as well as students can examine the nature of the business in general and whether it is in the foreseeable future.
Royal Collection case study solution
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by Vaughan Radcliffe, Derrick Wong Source: Richard Ivey School of Business Foundation 4 pages. Publication Date: September 24, 2012. Prod. #: W12222-PDF-ENG
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