Subject category:
Finance, Accounting and Control
Published by:
IBS Center for Management Research
Length: 4 pages
Data source: Generalised experience
Abstract
The case study, 'Rohit's Journalizing Dilemma' is about Sapphire Private Limited (Sapphire), a self-assembly furniture manufacturer known for its standardized and customized wooden and steel furniture. Rohit, an assistant accountant at Sapphire, faced a challenge in journalizing the transactions during his first assignment and this prompted him to seek guidance. The case highlights various scenarios requiring accounting treatment, including trade discounts, cash discounts, bad debts, donations, stolen goods, damaged inventory, capital expenditure on new outlets, and managing sample goods. The case study helps the students understand real-world applications of accounting concepts. It also guides them in understanding and applying accounting principles to address diverse transactions. The case encourages critical thinking, the application of accounting concepts, and the development of problem-solving skills.
Time period
The events covered by this case took place in 2022-2022.Geographical setting
Region:
Asia
Featured company
Sapphire Private Limited
Employees:
51-200
Type:
Self-owned
Featured protagonists
- Girish T Kumar (male), Accounting Department Head
- Rohit (male), Assistant Accountant
About
Abstract
The case study, 'Rohit's Journalizing Dilemma' is about Sapphire Private Limited (Sapphire), a self-assembly furniture manufacturer known for its standardized and customized wooden and steel furniture. Rohit, an assistant accountant at Sapphire, faced a challenge in journalizing the transactions during his first assignment and this prompted him to seek guidance. The case highlights various scenarios requiring accounting treatment, including trade discounts, cash discounts, bad debts, donations, stolen goods, damaged inventory, capital expenditure on new outlets, and managing sample goods. The case study helps the students understand real-world applications of accounting concepts. It also guides them in understanding and applying accounting principles to address diverse transactions. The case encourages critical thinking, the application of accounting concepts, and the development of problem-solving skills.
Settings
Time period
The events covered by this case took place in 2022-2022.Geographical setting
Region:
Asia
Featured company
Sapphire Private Limited
Employees:
51-200
Type:
Self-owned
Featured protagonists
- Girish T Kumar (male), Accounting Department Head
- Rohit (male), Assistant Accountant