Subject category:
Finance, Accounting and Control
Published by:
IBS Center for Management Research
Length: 4 pages
Data source: Generalised experience
Abstract
Ramesh Kumar (Ramesh), accountant at Anirudh Furniture Spare Parts Limited (AFSPL), went on leave for 2 months (April and May) for personal reasons. Before going on leave, he assigned the task of revenue recognition for the two months to Avinash Kumar, his assistant. After returning, Ramesh found that the revenue recognition statement submitted by Avinash had not followed the actual guidelines that Ramesh followed. Hence, he started to reconcile the revenue figures by validating the record books and cross verifying with buyers. The present case study is helpful in discussing the concept of revenue recognition and the guidelines specified under Accounting Standard-9 - Revenue Recognition from the sale of goods.
Teaching and learning
This item is suitable for undergraduate, postgraduate and executive education courses.Time period
The events covered by this case took place in 2019-2020.Geographical setting
Region:
Asia
Country:
India
Featured company
Anirudh Furniture Spare Parts Limited (Fictitious)
Employees:
11-50
Type:
Self-owned
Industry:
Home appliances & consumer products
Subject category:
Finance, Accounting and Control
Published by:
IBS Center for Management Research
Length: 5 pages
Data source: Generalised experience
About
Abstract
Ramesh Kumar (Ramesh), accountant at Anirudh Furniture Spare Parts Limited (AFSPL), went on leave for 2 months (April and May) for personal reasons. Before going on leave, he assigned the task of revenue recognition for the two months to Avinash Kumar, his assistant. After returning, Ramesh found that the revenue recognition statement submitted by Avinash had not followed the actual guidelines that Ramesh followed. Hence, he started to reconcile the revenue figures by validating the record books and cross verifying with buyers. The present case study is helpful in discussing the concept of revenue recognition and the guidelines specified under Accounting Standard-9 - Revenue Recognition from the sale of goods.
Teaching and learning
This item is suitable for undergraduate, postgraduate and executive education courses.Settings
Time period
The events covered by this case took place in 2019-2020.Geographical setting
Region:
Asia
Country:
India
Featured company
Anirudh Furniture Spare Parts Limited (Fictitious)
Employees:
11-50
Type:
Self-owned
Industry:
Home appliances & consumer products
Related
Subject category:
Finance, Accounting and Control
Published by:
IBS Center for Management Research
Length: 5 pages
Data source: Generalised experience