The case focuses of royal memorabilia and collectibles at the royal collections, a manufacturer. The company subcontracts its production of goods and markets products on cable TV and other means of addressing a wider public. Students create a set of basic financial statements on production, sales, costs, and other data. A number of accounting issues arise, as the case unfolds, including issues of revenue recognition, provisions for returns, cost flow assumptions and other ma … Read more »

The case focuses of royal memorabilia and collectibles at the royal collections, a manufacturer. The company subcontracts its production of goods and markets products on cable TV and other means of addressing a wider public. Students create a set of basic financial statements on production, sales, costs, and other data. A number of accounting issues arise, as the case unfolds, including issues of revenue recognition, provisions for returns, cost flow assumptions and other matters. Students develop a simple balance sheet, profit and loss account and cash reconciliation. Class discussion can also be due to the relatively high volume of transactions with related parties, and the students can use the nature of the business as a whole, and if it is considered to be a continuation.
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from
Vaughan Radcliffe,
Derrick Wong
Source: Ivey Publishing
4 pages.
Release Date: 24, September 2012. Prod #: W12222-PDF-ENG
Royal Collection Inc. HBR case solution

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